On this episode of Stock Movers:
- Alphabet (GOOGL) shares rise after the company reported first-quarter revenue and profit that exceeded analysts' expectations, driven by strength in its search advertising business. Google Cloud brought in operating profit of $2.18 billion, beating analysts’ estimates for $1.94 billion despite slightly missing expectations on sales. The results indicate that Google may be eking out more profits from Cloud even as sales slow.
- T-Mobile (TMUS) shares drop after the company reported new mobile-phone subscribers that missed expectations. The weaker wireless number overshadowed otherwise positive financial results. The company raised its full-year profit forecast and expects adjusted full-year earnings of $33.2 billion to $33.7 billion before interest, taxes, depreciation and amortization.
- Intel (INTC) shares drop after Chief Executive Officer Lip-Bu Tan gave investors a stark diagnosis of the chipmaker’s problems on Thursday, along with the sense that it will take a while to fix them. What’s most clear is Intel’s short-term woes are even worse than feared. The company gave a revenue forecast for the current quarter that was well below what analysts projected.
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