On this episode of Stock Movers:
- Alphabet (GOOG) shares are higher this morning after reporting first-quarter revenue and profit that exceeded analysts' expectations, driven by strength in its search advertising business. Alphabet's cloud business, Google Cloud, brought in operating profit of $2.18 billion, beating analysts' estimates, and search advertising generated $50.7 billion in sales.
- T-Mobile (TMUS) is to the downside this morning after the company reported new mobile-phone subscribers that missed expectations. Despite topping earnings and revenue estimates, the subscriber decline is concerning investors.
- Intel (INTC) shares are lower after its revenue forecast for the current quarter fell below analyst projections. The company is warning of a tariff-fueled recession that could hurt chip demand. CEO Lip-Bu Tan says the company's bureaucratic culture needs a shake-up, and plans to cut jobs, remove management layers, and require employees to work in-person four days a week.
- Skechers (SKX) is getting punished in the premarket as it became the latest company to pull guidance. The company says it’s not providing financial guidance and withdrawing its previous annual outlook due to macroeconomic uncertainty stemming from global trade policies. The company also reported first-quarter sales that trailed Wall Street’s expectations.
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