Today is Thursday, March 3, 2022.

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Shares of Snowflake (NYSE: SNOW) dropped 22.08% in after-hours trading on Wednesday after the cloud computing-based data warehousing company posted mixed earnings.

Financials: Snowflake reported a loss of 43 cents per share and revenue of $383 million in the quarter; both were better than expected.

Quote: “Snowflake finished fiscal 2022 with record-breaking consumption and bookings results, including triple-digit product revenue growth.” -  Frank Slootman, Chairman and CEO.

Bad Outlook: The problem with Snowflake was its guidance. The full-year revenue guidance was listed between $1.8 billion to $1.9 billion, which was below estimates. This is a sign that revenue growth in the future will likely slow down for the technology company.

Numbers: Since November 2020, the stock has lost half of its value. Even with the decline in price, the stock is still too overvalued for some investors.

Final Thoughts: Snowflake also announced that it acquired data app builder Streamlit. Hopefully, this new platform will improve revenue in the future.

Notable Earnings Today: Broadcom (Nasdaq: AVGO), Best Buy (NYSE: BBY), Marvell (Nasdaq: MRVL), Kroger (NYSE: KR), Costco Wholesale (Nasdaq: COST), Canadian Natural Resources (NYSE: CNQ), BJ's Wholesale Club Holdings (NYSE: BJ), Gap (NYSE: GPS), Crescent Point Energy (NYSE: CPG), Smith & Wesson Brands (Nasdaq: SWBI), Elastic (NYSE: ESTC), Toronto-Dominion Bank (NYSE: TD), Eagle Bulk Shipping (Nasdaq: EGLE), Burlington Stores (NYSE: BURL), Big Lots (NYSE: BIG), Duolingo (Nasdaq: DUOL), Tecnoglass (Nasdaq: TGLS), AeroVironment (Nasdaq: AVAV), Curaleaf Holdings (OTCMKTS: CURLF), Funko (Nasdaq: FNKO), Gogo (Nasdaq: GOGO), Puma Biotechnology (Nasdaq: PBYI), Titan International (NYSE: TWI), Toro (NYSE: TORO), Utz Brands (NYSE: UTZ), Veritone (Nasdaq: VERI), Weibo (Nasdaq: WB).

Notable IPOs Today: Keyarch Acquisition Corporation Ordinary Shares (Nasdaq: KYCH).

Notable Equity Crowdfunding Campaigns Ending Today: Paybby (Title3Funds).

Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), Nonfarm Productivity (8:30 a.m. ET), Unit Labor Costs (8:30 a.m. ET), Markit Composite PMI (9:45 a.m. ET), Services PMI (9:45 a.m ET), Factory Orders (10:00 a.m. ET).

Financial services company Charles Schwab (NYSE: SCHW) wants to make a move into crypto with an exchange-traded fund (ETF), according to an SEC filing on Wednesday.

Details: The filing was for the Schwab Crypto Economy ETF, which is meant to track companies that benefit from the development or utilization of cryptos and other digital assets.

Assets: The fund will mostly track the Schwab Crypto Economy Index, but not actual cryptos.

Final Thoughts: Most investors are waiting for the day when the SEC will finally approve of a crypto ETF that actually tracks the price of crypto.

For investors looking to cash in on space stocks, Lockheed Martin (NYSE: LMT) could be an interesting option.

Background: While the Maryland-based company is known for its arms and defense business, it also has a space business. Thus, it could be a safe way for investors to get into space stocks.

Numbers: Overall, the stock is up 15% in 2022. The company will likely announce earnings in April.

Final Thoughts: Defense stocks are also going strong due to the ongoing conflict in Europe.

Fighting Climate Change: This Is How Retail Investors Can Speed Up The Global Sustainability Bandwagon (Forbes)

IPO Alert: Talkdesk said to file confidentially for U.S. IPO (Seeking Alpha)

Coming Soon: Fed's Powell backs quarter point March rate hike; open to bigger moves later (Reuters)

Drop: Citigroup return forecast underwhelms investors, shares slide (CNBC)

Wishful Thinking: Analysts say bulls will aim for $48K now that Bitcoin’s ‘accumulation phase’ has begun (Cointelegraph)

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