Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Alphabet (GOOG) topped projections for quarterly revenue and outlined an ambitious capital spending plan, far surpassing predictions, leveraging its growth to build out the data centers and infrastructure needed to lead in the AI age. Google’s parent company said capital expenditures will reach as much as $185 billion this year, compared with the $119.5 billion analysts expected. Fourth-quarter sales, excluding partner payouts, were $97.23 billion, surpassing the $95.2 billion average estimate, according to data compiled by Bloomberg.
- Qualcomm (QCOM) the largest maker of smartphone processors, gave a lackluster revenue forecast for the current period, stoking concern that component shortages will hurt consumer demand by driving prices up. The shares dropped in extended trading.Sales will be $10.2 billion to $11 billion in the second quarter, which runs through March, the company said Wednesday in a statement. Profit will be about $2.55 a share, excluding certain items. Analysts, on average, estimated revenue of $11.2 billion and earnings of $2.89 a share, according to data compiled by Bloomberg.
- Estee Lauder (EL) shares are down as the beauty company’s new annual forecasts come in below the consensus estimates at the midpoint of the projected range. The stock has climbed 14% year to date, outperforming the large-cap staple index’s 12% gain, and the S&P 500’s 0.5% advance.
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