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This Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Dan Curtis. As the flood of earnings continues. Before we get to the stocks that are reporting this morning, we got to talk about four of the mag seven.
Kind of a mixed reaction.
Dan, Good morning, Good morning. It is a mixed reaction between the four companies. We have seven hundred and twenty five billion dollars of pledged capex this year, and today's reaction is telling us what the market thinks of those plans. So first up, we have Alphabet trading under ticker Googl. Those shares are up seven percent. The company behind Google's first quarter revenue came at ninety five billion dollars, topping estimates. Very importantly, the cloud business grew at a record sixty
three percent, seeing twenty billion dollars and topping estimates. That's a positive sign of return on AI spending. Shares are up. The company expects to spend up to one hundred and ninety billion dollars on CAPEX this year, but markets are seeing that being put to good use. Meta on the other hand, out of the four, this one's leading to the downside. Those shares are down at nine percent in
the pre market. That company liftingkapex plans to one hundred and forty five billion dollars from one hundred and twenty five. The increase driven partly by conviction that the AI strategy is paying off, but they're also noting higher component parts costs, especially in memory. It's you know as it is. The concerns are that the investment to play catch up in AI won't pay off, and one question Zuckerberg was unable to provide details on how Meta will make returns on
AI spending. That those shares getting punished in pre market. Microsoft also down two percent. The company's anticipating quote modest acceleration end quote, and it's a zor cloud unit in the second half of this year. That's a key measure of its AI strategy. That comes as both Amazon and Alphabet projected stronger growth. So Microsoft seeing a little bit less return on that spending, and it is planning to spend big. It's saying up to one hundred and ninety
billion dollars in CAPEX. Finally, to round up the seven hundred and twenty five billion dollars Amazon, those shares are up two percent. Amazon Web Services known as AWS and its KEYAI measure posted fastest growth rate in twenty twenty two, so again CAPECS paying off. There. That company has promised to spend about up to two hundred billion dollars this year.
It now has a three hundred and sixty four billion dollar contract backlog, a lot of that coming from Open Ai and Anthropic, so that company is bringing customers even as it spends big.
All right, well, we have just time to talk about some of the stocks that have reported this morning. Looks like a pretty good reaction to Eli Lilly's results.
That's right. Tick Our l Y is up six percent in the pre market. The company is raising its full year revenue guidance, now projecting up to eighty five billion dollars. It's also adding two dollars per share onto its EPs guidance top end thirty five dollars per share. One Q revenue came in with a beat. Manjaro sales were eight point six billion dollars higher than estimates, over forty percent of total sales. Add in another GLP one product, zep Bound.
Those GLP one products were nearly two thirds of the company's total revenue for the quarter.
And hot on Eli Lilly's heels as Caterpillar.
Yeah, that is up six percent. It does make you know, big machines. It also makes energy. Those shares up six percent as machinery power and energy sales of sixteen and a half billion dollars top estimates by a billion dollars. That part of the business sales generators, engines, and gas turbines. That is a hot space in the AI trade because those provide electricity to the energy intensive data center. Shares have already doubled over the past year.
This stock mover's report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.