Wednesday's big stock stories: What’s likely to move the market in the next trading session
CNBC producers highlighted upcoming catalysts for the next session. Snowflake and Salesforce report after the bell; Snowflake shares are up 2.6% in three months but down 37% from a November high, with an average target of $231.38 vs. $177.60. Salesforce is down 10% in three months and 36% from last year’s high; average target $254.43. Abercrombie & Fitch, Dick’s, Manchester United, and several airlines also report or move.
How this was made
The 30-second read
Why it matters
Near-term trading is dominated by earnings catalysts and positioning (implied volatility levels), while the spinoff is a structural event likely to affect valuation and peer sentiment in LTL/transport.
Market read
Traders should focus on earnings-driven volatility for SNOW/CRM/A&F and on logistics/LTL positioning as the FedEx Freight spinoff begins trading next week.
What to watch
The article stresses implied volatility and analyst reconfirmations but does not provide the actual consensus EPS/revenue numbers; guidance wording (especially for CRM) may matter more than the magnitude of the move implied by vol.
Background
The piece is a 'Stocks at Night' preview: it highlights upcoming earnings for Snowflake and Salesforce (after the bell) and Abercrombie & Fitch (before the bell), plus a logistics catalyst from FedEx’s approved FedEx Freight spinoff that begins trading next week.
Ticker impact
Snowflake CEO joins the segment ahead of earnings after the bell, with shares down 37% from the November high and implied vol at 12%.
Expect larger-than-average post-earnings move; direction likely hinges on revenue guidance versus reconfirmed estimates.
The article emphasizes elevated implied volatility (12%) and a mixed but still bullish analyst skew, implying uncertainty rather than a clear consensus.
Salesforce reports after the bell, with the stock down 10% over three months, missed revenue estimates multiple times, and implied vol around 8%.
Bias toward downside if management fails to re-accelerate revenue; otherwise limited downside given lower implied vol.
The piece highlights repeated revenue estimate misses and persistent drawdowns, while implied volatility suggests the market expects less magnitude than Snowflake.
FedEx’s board approved the spinoff of FedEx Freight (FDXF), creating a new LTL-focused entity that starts trading next week.
Expect continued volatility in FedEx and related logistics names as the market prices the spinoff structure and timing.
The article explicitly ties next-week trading to the approved spinoff, which typically affects valuation and positioning even without new earnings numbers.
Old Dominion is cited as an 'other stock in this business' amid the FedEx Freight spinoff narrative, with shares down 7% from the April high.
Likely to trade with the LTL complex; direction depends on whether the market views the spinoff as supportive for LTL demand/competition.
The article mentions ODFL only as a peer in the spinoff context, without company-specific news.
XPO is mentioned among LTL/transport peers in the FedEx Freight spinoff discussion, with the stock down 9% from the April high.
Short-term correlation with LTL sentiment; no strong directional edge from the provided facts.
The only XPO detail is recent price performance within a sector list, not a new event.
Saia is listed as an LTL peer in the FedEx Freight spinoff context, hitting a new high on Tuesday and up 67% in six months.
Potential for continued relative strength versus weaker LTL peers if investors chase the winners.
The article provides no Saia-specific news beyond being a high-momentum peer.
ArcBest is included as an LTL peer in the FedEx Freight spinoff story, down 4% from the April high and up 27% in three months.
Range-bound unless the market reprices the LTL complex more broadly.
ArcBest is referenced only as part of a peer set, not as a subject of new information.
TFI International is cited as an LTL peer in the FedEx Freight spinoff narrative, hitting a new high on Tuesday and up over 8% in a month.
Possible upside continuation on sector sympathy, but direction is not guaranteed without TFII-specific news.
TFII appears only in the peer list with performance stats, not a new event.
Market effects
Earnings from large software names (SNOW/CRM) and the FedEx Freight spinoff narrative can shift sentiment across tech growth and the LTL/logistics complex.
Canadian-listed Bank of Montreal is mentioned as up, but it is not tied to a specific catalyst in the article.
Limited direct global linkage; the main cross-market driver is logistics/transport positioning around an LTL structural change.
Counterpoint
Lower implied volatility for CRM (vs SNOW) could mean the market is over-discounting downside; a clean beat/raise could trigger a sharp relief rally despite recent revenue misses.
Key entities
- companySnowflake
CEO segment ahead of earnings after the bell; stock down 37% from November high and implied volatility around 12%.
- companySalesforce
CEO segment ahead of earnings after the bell; stock down 10% over three months with repeated revenue estimate misses and implied volatility around 8%.
- companyAbercrombie & Fitch
Reports before the bell; stock down nearly 25% over three months and down 43% from January high.
- companyFedEx
Board approved spinoff of FedEx Freight; FedEx Freight starts trading next week under ticker FDXF.
