NEWS
Big Tech Buoys A Mixed Market

Strength in technology and communication services buoyed the large-cap indexes, while weakness in every other sector dragged small-caps and the Dow 30 lower. Bitcoin was the biggest move of the day, with many looking to capitalize on the fresh breakout as “Mag 7” earnings and economic data add volatility to the mix. 👀

Today's issue covers the biggest tech earnings, Bitcoin’s breakout to new highs, and other noteworthy pops and drops. 📰

Here’s the S&P 500 heatmap. 2 of 11 sectors closed green, with technology (+1.35%) leading and utilities (-2.14%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $IMTE, $OI, $GLYC, $CAN, $ALTR 📉 $QRVO, $CYCN, $CECO, $DHI, $CROX*

*If you’re a business and want to access this data via our API, email us.

EARNINGS
A Roundup Of Today’s Tech Results 🤖 

There were far too many noteworthy earnings to cover them all in detail, so we’re summarizing the biggest takeaways from today’s tech giants.

Social media giant Reddit soared 24% after the bell, hitting new all-time highs after delivering a ‘triple beat.’ CFO Andrew Vollero said the company is scaling profitably as investors brushed over slight weakness in daily active users (DAUs). “Logged-out” users are up 70% YoY vs. just 27% YoY growth for “logged-in” users. Stocktwits sentiment ticked up from ‘neutral’ to ‘bullish’ territory. 💻️ 

Neobank SoFi Technologies reversed sharply during regular trading, closing down 6% on the day. It posted a fourth straight quarter of GAAP profitability and topped revenue estimates, with total deposits growing to $24.4 billion and total customers nearing 9.4 million. Despite the company expanding its lending capabilities via its loan platform business, bears say growth will remain constrained by capital. Stocktwits sentiment remained ‘extremely bullish.’ 🏦 

Payments giant PayPal issued softer-than-expected guidance, calling for “low single-digit revenue growth” during the fourth quarter. It cited a “price-to-value strategy and prioritization of profitable growth” as the reasoning. Total payments volume rose 9%, but a higher contribution from lower-margin revenues weighed on profits. Shares fell 4%, but Stocktwits sentiment remains ‘extremely bullish.’ 💳️ 

Snap shares jumped 10% after the social media company boasted revenue and user growth, bolstering the stock with a $500 million buyback program. Its two new ad formats could help grow demand from large advertisers. 🤳 

Search giant Alphabet saw shares rise 6% after its earnings beat expectations. Revenue in its cloud division rose 35% YoY to $11.35 billion, and management touted the “virtuous cycle” the company’s “full stack” of AI products is creating at scale with Google’s billions of users. Stocktwits users remain ‘extremely bullish.’ 🔍️ 

AMD shares fell 7% after the semiconductor giant’s earnings met expectations, with revenues slightly beat. Data center business revenues doubled for the second straight quarter, but overall revenue guidance only “met” expectations, disappointing some investors. Outside of its AI chip business, its gaming and embedded business weakness continues, while its client segment (including PC sales) rebounded 23% YoY. Stocktwits sentiment remains ‘extremely bullish.” 😐️ 

Semiconductor solutions provider Qorvo crashed 15% after its guidance came in well below analyst estimates. Management expects fiscal 2025 revenue and gross margin to be down slightly YoY. Stocktwits sentiment remains ‘bullish.’ ✂️ 

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