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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 of the stocks on the move today. We can do that with Bloomberg's Alexandra semon Manova.
Minova it had her brain. So the guys, we have to start with Google parent Alphabet. John just mentioned that a lot of investors are upset about that big CAPEX number, but there are a lot of positives in this report. Despite the stock slumping today, the company topped projections for quarterly revenue, specifically for its Google Cloud. Revenue jumped forty eight percent to a whopping seventeen point seven billion dollars
that handily beat Wall Street estimates. Gemini its artificial intelligence model. It is also rapidly reaching new users. And then here's the number that is making traders upset. Capex will reach as much as a one hundred and eighty five billion dollars this year, compared to roughly one hundred and twenty
billion dollars that analysts were expecting. They're expected spending for twenty twenty six altogether, will also total more than what the company spend in the prior three quarters, but CEO Sindhar Pachai is saying that this is necessary, that they're already seeing that spending actually be monetized in their AI endeavors. And then Jeffrey's analysts also point out that AI is paying off for Google. I'm well enough to remember when
companies actually get rewarded for taking their AI capex. Yeah, not so much anymore. I loved what one trader said that this was Alphabet's mic drop kapex because the number is so mammoth. What else are you looking at, Alex? Yeah, I'm also taking a look at shares of S day later. Looks like they're down twenty percent right now. Really tough day for the company. It boosted its outlook, but it just wasn't enough for investors who were expecting more from
its turnaround effort. Helmed by their new CEO, Stephanie de la for Favaray, Sorry if I'm mispronouncing her name, the company narrowly narrowly beat Wall streets expectations for revenue and adjusted earnings per share in its most recent quarter. That was lifted by growth in skincare products including Lamaire and the ordinary people were also buying their fragrances from tom Ford and Lalabo. It also narrowed its outlook range four. Net revenue growth in the current fiscal quarter end in
June now forecasts three percent to five percent growth. So solid number is just a really high bar, as we're seeing with a lot of companies this earning season.
You have to invest in your face.
I mean I learned that from Alex Let's see who said that. There's actually I have not There is a great article I don't remember who published it about how because millennials can't afford homes, they're actually investing in skincare products and self care. Okay, affordable luxuries because are not exactly all right, let's move on to another household name. Yeah, we have to end on a high note. So many negative news today, but some positive news from Hershey. They
offered a better than expected to twenty six outlook. Just taking a look at the stock right now, shares are up about seven percent. They said that higher prices and new products are set to boost performance. The company sees adjusted earnings per share of about eight dollars and twenty cents to eight dollars and fifty two cents, and sales gaining four percent and five percent in twenty twenty six.
They have, of course been impacted by tariffs and higher cocoa costs, but chocolate makers did get a little bit of reprieve when the President said that he will not issue reciprocal tariffs on coco or. She also said that cost pressure from commodities and tariffs is set to be better this year, so they're going to spend more of that money on advertising.
The Stock Movers 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.