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The 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 Credit Gupta on a very busy earnings morning after a very busy earnings afternoon.
Good morning Critty, Good morning Nathan. We got to start off with the tech earnings.
Here we are in the kind of the heat of it, the eye of the storm, if you will. The biggest moves to the upside are coming from the likes of Alphabet.
You got to keep a eye on those Class C shares.
Goog is your ticker, treating out two hundred and ninety five dollars share higher by about seven point three percent this morning. Alphabet coming in with a very strong beat on their cloud unit, and.
This is a very big deal.
They are the number three player in a market that is very much domuminated by Microsoft's Asia business and Amazon Web services. So the fact that Alphabet is not only growing but gaining markets is kind of a double win. So the market really applauding that this morning two ninety five is where we are goog Hire by seven percent.
It is not all well though.
In the tech sector you are seeing some major moves to the downside. Meta, for example, was the big loser this morning. Investors are getting a little worried about that spend. We've been here before. We've seen Meta go all in on the likes of the metaverse and weren't fully able to execute it. There are worries now that we're seeing the same thing happen when it comes to their posturing around AI. M Eta is your ticker six hundred and eighty nine dollars a share, down about eight point three
percent and dropping as we speak. Things not looking good there either. Also seeing some weakness this morning in Microsoft shares MSFT is your ticker five hundred and twenty nine dollars a share, down a just shy of three percent. It looks like they came out some pretty good numbers, but this is what happens when you have an A plus plus student. It looks like they just didn't deliver
to the same extent that the street wanted to. So this morning down about two point three percent five twenty nine for MSFT.
I want to take a step away.
From the tech space because we are seeing quite a bit of earnings also weakness when it comes to those consumer names. So Chipotle is the one that's really getting beat this morning. They had their earnings after the bell yesterday, thirty two dollars a share for CMG. It looks like down get this, almost nineteen percent. They're really worried about getting their consumer in cutting their outlook for the third time this year, really talking about the pinch and the
disposable income that a lot of Americans are facing. A different conversation when it comes to Starbucks SBUX. Is your ticker down about three percent trading just I have eighty two dollars a share.
They've come back to the growth picture.
They're saying strong international sales are helping push that market up and push those their bottom line higher. But that being said, it looks like there is still some weakness baked into those shares. So keep an eye on the consumer names Chipotle, Starbucks as well. Just because I'm on a roll with the with the downers here where it came out with their earnings this morning. M RK is your ticker chairs down three percent this morning? Eighty three
dollars in change. They beat those revenue expectations, but they are pushing towards a new pivot when it comes to some of the new drugs in their portfolio, but the market not necessarily liking what they see. Nathan, I'm gonna end with some positivity if I can here Eli Lilly shares.
They're excited about their new products.
Hire by five and a half percent, Lly, boosting the revenue forecast and beating their s.
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