Stocks Climbing, Snowflake: Largest Software IPO Ever, Earnings Movers: Adobe & FedEx, Instagram “Freeze”

Carl Quintanilla, Jim Cramer and David Faber discuss the boost for stocks. The Dow, S&P 500 aim for its fourth straight day of gains. A positive sign on the COVID-19 front, Eli Lilly reporting a reduced rate of hospitalizations for its coronavirus patients using its antibody treatment. Plus, it’s the largest ever software IPO, Snowflake pricing above the increased range in an offering valuing the company at $33.3 billion. Snowflake is selling 28 million shares at $120 a piece and will debut on the NYSE under ticker symbol “SNOW.” Two big earnings movers, Adobe & FedEx both beating the street, while reporting record revenue. Facebook under fire as the FTC prepares a possible antitrust suit against the company according to reports. Plus, more than a dozen celebrities including Kim Kardashian West, Katy Perry, Michael B. Jordan and Ashton Kutcher are participating in a 24-hour Instagram “freeze” today as a part of the “Stop Hate For Profit” movement.