tl;dr
STOCK FUTURES EDGE HIGHER AHEAD OF U.S. INFLATION DATA RELEASE Stock futures edged higher in premarket trading on Friday, ahead of the release of key U.S. inflation data, following mixed earnings reports from major technology companies. BIGGEST STOCK GAINERS Alphabet Inc. (NASDAQ:GOOG, NASDAQ:GOOGL)...
STOCK FUTURES EDGE HIGHER AHEAD OF U.S. INFLATION DATA RELEASE Stock futures edged higher in premarket trading on Friday, ahead of the release of key U.S. inflation data, following mixed earnings reports from major technology companies. BIGGEST STOCK GAINERS Alphabet Inc. (NASDAQ:GOOG, NASDAQ:GOOGL) Alphabet's stock soared 11% following an upbeat Q1 performance driven by YouTube ads revenue, which soared 21% Y/Y. Subscriptions, platforms, and devices revenue jumped 18% while the momentum in the Cloud segment continued, with 28% revenue growth. Operating margin also expanded, to 32% from a year ago's 25%. Additionally, the company also authorized the buyback of up to an additional $70B worth of shares and declared a cash dividend of $0.20 per share. Microsoft Corporation (NASDAQ:MSFT) Shares of Microsoft also surged about 5% following better than expected FQ3 earnings results, with total sales rising 17%, driven by 31% Y/Y growth in Azure, signaling strong AI demand. The company expects Q4 sales to be between $63.5B and $64.5B, slightly below the consensus of $64.57B. Included in that is $28.4B to $28.7B from Intelligent Cloud, with Azure growing between 30% and 31% in constant currency. Snap Inc. (NYSE:SNAP) Snap's shares jumped 24% after reporting an upbeat Q1 earnings report and Q2 outlook. The company sees Q2 revenue of $1.225B to $1.255B, implying a Y/Y growth of 15% to 18% and above the consensus of $1.21B. "Our Q2 guidance is built on the assumption that DAU will be approximately 431M in Q2. Given the revenue range above and our investment plans for the quarter ahead, we estimate that adjusted EBITDA will be between $15M and $45M in Q2," the company stated. BIGGEST STOCK LOSERS Intel Corporation (NASDAQ:INTC) Intel's shares plunged as much as 7% after the chip giant reported mixed Q1 results, missing the top line despite 9% Y/Y growth. The company also provided a disappointing outlook, seeing revenue between $12.5B and $13.5B, well below the consensus of $13.61B, and an adjusted EPS of $0.10 per share, significantly below the consensus of $0.25 per share. Intel Chief Financial Officer David Zinsner said in a statement. "Our new foundry operating model, which provides greater transparency and accountability, is already driving better decision-making across the business. Looking ahead, we expect to deliver year-over-year revenue and non-GAAP EPS growth in fiscal year 2024, including roughly 200 basis points of full-year gross margin improvement."
More about Alphabet Inc Class C
Alphabet Inc. Class C, a multinational conglomerate, was created through a restructuring of Google on October 2, 2015. It is headquartered in Mountain View, California and serves as the parent company of Google and several former Google subsidiaries. The two co-founders of Google retained their positions as controlling shareholders, board members, and employees at Alphabet.
Alphabet is the world's fourth-largest technology company by revenue and ranks as one of the world's most valuable companies.
Sector: Technology
Services: Computer Programming, Data Processing, etc.
Market Cap: $1.99 trillion
Price/Earnings Ratio: 27.78
Dividend Yield: None
Beta: 5.8
EPS: $24.34
Profit Margin: 0.24%
Revenue: $307.39 billion
Operating Margin: 165.29%
Return on Equity: 0.56%
Debt/Equity: 0.135
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company known for its software products such as the Microsoft Windows line of operating systems, Microsoft Office suite, Internet Explorer, and Edge web browsers. It also produces consumer electronics, personal computers, and related services. The company's flagship hardware products include the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. Microsoft ranked No. 21 in the 2020 Fortune 500 rankings of the largest United States corporations by total revenue and was the world's largest software maker by revenue as of 2016. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Amazon, and Facebook.
Sector: Technology
Industry: Services-Prepackaged Software
Market Cap: 303.95 Billion
Current Price: $37.05
Change: $2.86
Change Percentage: 11.04%
Previous Close: $30.61
EPS: $0.363
Volume: 227,583,001
52-Week Range: $462.44
Beta (3Y Monthly): 0.332
PE Ratio: 0.176
More about Snap Inc
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Snap Inc.
Snap Inc. is a camera company in the United States and internationally. The company is headquartered in Santa Monica, California.
Sector: Technology
Industry: Services-Computer Programming, Data Processing, etc.
Market Cap: 17,706,308,000
Dividend Yield: None
EPS: -0.82
P/E Ratio: 2.856
ROE: -0.287
Revenue: 4,606,115,000
Price: 13.31
52-week High: 0
52-week Low: 0.047
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More about Intel Corporation
Intel Corporation Summary Company: Intel Corporation
Description: Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, in Silicon Valley. It is the world's largest semiconductor chip manufacturer by revenue, and is the developer of the x86 series of microprocessors, the processors found in most personal computers (PCs).
Industry: Manufacturing, Semiconductors & Related Devices
Market Cap: 146.86 billion USD
Stock Price: 86.25 USD
Change: 0.74 (0.4%)
PE Ratio: 12.94
EPS: 0.0312
Revenue: 54.23 billion USD
Dividend Yield: 1.97%
Beta: -0.717
Volatility: 0.097
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