Wednesday’s report showed that the US economy grew at a 3.2% annual pace from October through December. The data came slightly lower than the 3.3% estimates.
Bitcoin skyrocketed to $64,000 on Wednesday morning, going above $60,000 for the first time since November 2021. The bullish atmosphere initially started with the possibility of an ETF launch. After being approved, Bitcoin moved flat until February 7, when the movement to $64,000 started. Another bullish event for Bitcoin is the approaching halving, which will take place in April. The halving by reducing mining reward by half, thus limiting supply.
The share price of Salesforce (CRM) decreased by 5% in the extended trading after the company announced earnings per share and revenue that topped estimates but fell short of the revenue forecast for the new fiscal year. The company said it expects $37.7 billion to $38 billion in revenue for the 2025 fiscal year. However, the analysts were expecting $38.62 billion.
The Federal Aviation Administration (FAA) gave Boeing (BA) 90 days to put together a quality control plan. Boeing noted that they would prepare a ‘comprehensive action plan with measurable criteria’. Shares of Boeing, which has been suffering since the door plug blew out of a 737 Max 9, increased by 3% following the FAA’s decision.
Frank Slootman, CEO of Snowflake (SNOW), declared his retirement decision after markets closed: Slootman will be replaced by Google Ad Chief Sridhar Ramaswamy. Snowflake also announced its fourth-quarter results and the first-quarter guidance. Another negative piece of news on the company was that their first-quarter product revenue forecast ($754 million-$740 million) is below what analysts were expecting ($759 million). The share price of Snowflake decreased by 20% following the announcements.
Author: Kaan Pinar