US stocks open higher; Snowflake surges 26% on Q2 beat

The divergence in post-earnings reactions highlights how tightly valuations are tied to forward guidance in the current tech landscape. Snowflake's surge reflects market appetite for growth names that can raise the bar, while Broadcom's slide shows the penalty for even minor misses on outlook. The M&A signal from GoPro suggests consolidation is still a lever for smaller hardware players to reposition. What matters next is whether this pattern—rewarding upgraded forecasts and punishing conservative ones—persists across the broader earnings slate, as it will shape sentiment beyond these individual movers.