>>> Cytokinetics and Royalty Pharma (RPRX) announce expanded strategic funding c

Cytokinetics and Royalty Pharma (RPRX) announce expanded strategic funding collaboration totaling up to $575 million to support commercial launch of aficamten and to advance R&D Pipeline (59.23 -0.91)
SOUTH SAN FRANCISCO, Calif. and NEW YORK, May 22, 2024 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) and Royalty Pharma plc (Nasdaq: RPRX) today announced they have entered into a strategic funding collaboration providing capital to support the commercialization of aficamten and advance the company's expanding cardiovascular pipeline while diversifying access to capital as the company advances its muscle biology-directed specialty cardiology business.

>>> Snowflake misses by $0.04, beats on revs, guides for Q2 product revenue grow

Snowflake misses by $0.04, beats on revs, guides for Q2 product revenue growth of 26-27%, FY25 product revenue growth of 24% (163.29 +0.58)
  • Reports Q1 (Apr) earnings of $0.14 per share, excluding non-recurring items, $0.04 worse than the FactSet Consensus of $0.18; revenues rose 32.9% year/year to $828.7 mln vs the $787.4 mln FactSet Consensus.
  • Product revenue for the quarter was $789.6 million, representing 34% year-over-year growth.
  • Remaining performance obligations of $5.0 billion, representing 46% year-over-year growth.
  • Net revenue retention rate of 128%.
  • Co issues guidance for Q2, sees product revenue of $805-$810 mln, representing growth of 26-27%, and non-GAAP operating income margin of 3%.
  • Co issues guidance for FY25, sees product revenue of $3.30 bln, representing growth of 24%, and operating income margin of 3%, adjusted free cash flow margin of 26%.

>>> NVIDIA beats by $0.52, beats on revs; guides Q2 revs above consensus; ten-fo

NVIDIA beats by $0.52, beats on revs; guides Q2 revs above consensus; ten-for-one forward stock split; raises quarterly dividend (949.50 -4.36)
  • Reports Q1 (Apr) earnings of $6.12 per share, excluding non-recurring items, $0.52 better than the FactSet Consensus of $5.60; revenues rose 262.1% year/year to $26.04 bln vs the $24.59 bln FactSet Consensus.
    • Data Center: Revenue was a record $22.6 billion, up 23% from the previous quarter and up 427% from a year ago. These increases reflect higher shipments of the NVIDIA Hopper GPU computing platform used for training and inferencing with large language models, recommendation engines, and generative AI applications.
    • Gaming and AI PC: Revenue was $2.6 billion, down 8% from the previous quarter and up 18% from a year ago. The year-on-year increase primarily reflects higher demand. The sequential decrease reflects seasonally lower GPU sales for laptops.
    • Professional Visualization: Revenue was $427 million, down 8% from the previous quarter and up 45% from a year ago. The year-on-year increase primarily reflects higher sell-in to partners following the normalization of channel inventory levels. The sequential decrease was primarily due to desktop workstation GPUs.
    • Automotive and Robotics: Revenue was $329 million, up 17% from the previous quarter and up 11% from a year ago. The year-on-year increase was driven primarily by self-driving platforms. The sequential increase was driven by AI Cockpit solutions and self-driving platforms.
  • Co issues upside guidance for Q2 (Jul), sees Q2 revs of $28.0 bln +/- 2%, implying $27.44-28.56 bln vs. $26.62 bln FactSet Consensus.
    • GAAP and non-GAAP gross margins are expected to be 74.8% and 75.5%, respectively, plus or minus 50 basis points. For the full year, gross margins are expected to be in the mid-70% range.
  • Co announces ten-for-one forward stock split effective June 7, 2024.
  • Co also announces quarterly cash dividend raised by 150% to $0.01 per share on a post-split basis.