On this episode of Stock Movers:
- Alphabet (GOOG) shares are higher after reporting earnings yesterday. The Google parent reported third-quarter results that beat expectations. Analysts are especially positive on its cloud-computing business.
- Meta (META) shares are sliding after its earnings. The Facebook parent reported third-quarter results and gave an outlook. Analysts noted some concern over the company’s heavy spending.
- Microsoft (MSFT) shares are lower this morning also following earnings yesterday. Analysts are broadly positive on the report, especially growth in its Azure cloud-computing business, but said investor expectations were elevated. Microsoft along with fellow Magnificent 7 peers Alphabet and Meta racked up some $78 billion in capital expenditures last quarter — an 89% increase from a year earlier
- Chipotle (CMG) is diving in the premarket as it cut its full-year outlook for a third time this year as diners pulled back from eating out at the fast-casual chain. The company now sees sales for the full year slipping in the low-single digit range from a year earlier, and Chief Executive Officer Scott Boatwright said “The consumer slowdown is really affecting our business in a meaningful way."
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