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Snowflake shares spiked 19% in extended trading on Wednesday after the data analytics software maker reported fiscal third-quarter earnings that beat estimates.Here's how the company did, compared to LSEG analysts' expectations:Earnings per share: 20 cents, adjusted vs. 15 cents expectedRevenue: $942 million vs. $897 million expectedSnowflake's revenue rose 28% year over year in the quarter, which ended on Oct. 31, according to a statement. The company's net loss of $324.3 million, or 98 cents per share, widened from $214.3 million, or 65 cents per share, in the same quarter a year earlier.Product revenue represented around 96% of total sales. Snowflake called for $3.43 billion in fiscal 2025 product revenue, implying 29% growth. That's up from the $3.36 billion forecast management gave th...

Nikolas Kokovlis | Nurphoto | Getty ImagesComcast shares posted modest gains Wednesday after the company announced its plan to spin off all of NBCUniversal's cable networks, except Bravo, into a separate publicly traded entity.Investors' initial shrug at the proposed transaction underscores the uncertainty of the maneuver.The hope for Comcast is that by shedding declining assets, the company's shares will rise. Cable networks are still profitable, but they're hemorrhaging subscribers and revenue every year as Americans cancel traditional pay TV for streaming services. That may be an anchor on Comcast's shares. Wall Street typically doesn't like assets with slumping revenue and profit.Still, there's plenty of uncertainty around the spinoff. It's unclear if Comcast investors will care that m...

Check out the companies making headlines in extended trading: Nvidia — The artificial intelligence darling slid nearly 2% despite exceeding expectations for the third quarter and providing strong guidance. Nvidia posted 81 cents in adjusted earnings per share and $35.08 billion in revenue. Analysts surveyed by LSEG were expecting 75 cents in earnings per share and $33.16 billion in revenue. Snowflake — The cloud stock soared 18% after beating earnings expectations for the third quarter and issuing strong guidance. Snowflake posted adjusted earnings of 20 cents per share on $942 million in revenue, while analysts surveyed by LSEG predicted 15 cents in earnings per share and $897 million in revenue. Palo Alto Networks — The cybersecurity stock slipped 5%. Palo Alto announced a two-for-one st...

Chairperson of Indian conglomerate Adani Group, Gautam Adani addresses a gathering during the inaugural session of Vibrant Gujarat Global Summit 2024 in Gandhinagar on January 10, 2024.Punit Paranjpe | AFP | Getty ImagesGautam Adani, the chair of India's Adani Group conglometerate and one of the world's richest people, has been indicted in New York federal court with other defendants in connection with an alleged multi-billion-dollar fraud scheme, authorities said Wednesday.Adani and two other defendants, Sagar Adani and Vneet Jaain, who are executives of Adani Green Energy Limited, are accused of conspiring to commit wire fraud and securities fraud for their roles in obtaining funds from investors in the United States and international lenders "on the basis of false and misleading stateme...

A McDonald's is seen in the Flatbush neighborhood in Brooklyn, New York City, on Oct. 23, 2024.Michael M. Santiago | Getty ImagesMcDonald's is preparing 2025 value offerings in a bid to hang onto customers who are fed up with high costs at restaurants.The company is working on a new "McValue" approach for next year that involves keeping the $5 value meal offer it launched this summer on the menu for the first half of the year, along with introducing a "buy one add one" option for $1 more, CNBC has learned. The "buy one add one" offer includes a double cheeseburger; McChicken sandwich; 6 piece chicken nuggets and small fry; or breakfast options of a Sausage McMuffin, sausage biscuit or sausage burrito and a hash brown, according to a person familiar with the matter.Local value offerings hav...

Expectations are high for Nvidia's earnings. Nvidia is expected to report fiscal 2025 third-quarter results Wednesday after the close. Analysts see the darling chipmaker reporting a profit of 75 cents per share on revenue of $33.16 billion, per LSEG. Both figures represent more than 80% growth from the year-earlier period. The report will likely have implications for the broader market, given Nvidia's massive size. The semiconductor giant has a market capitalization of more than $3.6 trillion, making it the most valuable U.S.-listed company. But just as key as the results themselves will be is what Nvidia says about the demand behind its latest Blackwell graphics processing unit, or GPU, which is designed to meet the heavy processing needs for AI capabilities and often sold to large tech h...

Check out the companies making headlines in midday trading: Williams-Sonoma — The home goods retailer soared about 29% after beating expectations on both lines for the third quarter and raising full-year guidance. Williams-Sonoma earned $1.96 per share on $1.80 billion in revenue, while analysts surveyed by LSEG had anticipated just $1.78 in earnings per share and $1.79 billion in revenue. Ford Motor — Shares of the U.S. automaker slid 3% after Ford said on Wednesday it plans to cut around 14% of its European workforce . The company cited significant losses in recent years driven by weak demand for electric vehicles, a lack of government support for the shift toward electric vehicles and greater industry competition. Nvidia — Shares dipped 1% ahead of the chipmaker's fiscal third-quarter r...

Single-family homes in a residential neighborhood in San Marcos, Texas.Jordan Vonderhaar | Bloomberg | Getty ImagesAfter flatlining the week before, mortgage demand rose last week, despite mortgage rates increasing for the fourth straight week. Total application volume climbed 1.7% compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.90% from 6.86%, with points rising to 0.70 from 0.60 (including the origination fee) for loans with a 20% down payment. That was the highest level since July.Applications for a mortgage to purchase a home rose 2% for the week but were 1% lower than the same week one year ago. P...

Ed Bastian, chief executive officer of Delta Air Lines Inc., during an interview in New York, US, on Monday, Nov. 7, 2022.Jeenah Moon | Bloomberg | Getty ImagesDelta Air Lines CEO Ed Bastian said the Trump administration's approach to regulation could be a "breath of fresh air."Speaking to reporters ahead of Delta's investor day, Bastian noted that President-elect Donald Trump campaigned saying he would take a "fresh look" at regulation and bureaucracy.The U.S. Department of Transportation under Secretary Pete Buttigieg has issued a host of rules aimed at protecting consumers, some of which the airline industry has bristled at, including one this year that requires carriers to provide automatic cash refunds to travelers when an airline cancels a flight.Bastian said the industry has seen a ...

The National Hockey League is commanding more respect when it comes to team values.The average NHL team is worth $1.92 billion, according to CNBC's Official 2024 NHL Valuations, and recent transactions come at revenue multiples that rival deals done in Major League Baseball.What accounts for the league's ascension?Steady revenue growth combined with a hard salary cap and a leaguewide revenue-sharing system all but ensure profitability for the league's 32 teams.For the 2023-24 season, the NHL's hockey-related revenue was $6.3 billion, 8.6% higher than the previous season, according to the league. The NHL also hit record national sponsorship revenue last season, bringing in $250 million, as well as record regular-season gate receipt revenue of $2.4 billion, the NHL said.That growth, combined...