Alphabet Lifted by Cloud Computing Unit, Ford Motors Forward Due to Full-Year Outlook, Chipotle Spices It Up with Protein - podcast episode cover

Alphabet Lifted by Cloud Computing Unit, Ford Motors Forward Due to Full-Year Outlook, Chipotle Spices It Up with Protein

Apr 29, 20263 min
--:--
--:--
Download Metacast podcast app
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more

Episode description

On this episode of Stock Movers:
- Alphabet Inc. (GOOGL) reported quarterly revenue and profit that beat projections, fueled by strong growth in its cloud computing unit, signaling that the internet giant’s unprecedented investments in AI infrastructure are beginning to pay off. Google’s parent company said first-quarter revenue, excluding partner payouts, was $94.7 billion, compared with the $91.6 billion expected on average by analysts, according to data compiled by Bloomberg. The company reported earnings per share of $5.11, compared with Wall Street’s $2.62 per share estimate. Alphabet shares gained more than 7% in after-hours trading, after closing at $349.94.
- Ford Motor Co. (F) boosted its full-year profit outlook on demand for high-margin pickups and SUVs while warning that an unexpected rise in commodity costs will weigh on earnings.The automaker now expects to earn between $8.5 billion to $10.5 billion before interest and taxes this year, up $500 million from its previous forecast, the company said in a statement Wednesday. Ford also widely exceeded analyst expectations for first-quarter results, with adjusted earnings of 66 cents a share compared with 19 cents expected by Wall Street.
- Chipotle Mexican Grill Inc. (CMG) eked out higher sales last quarter, suggesting the chain is starting to win back diners who previously balked at the rising price of its burritos.Sales at established locations rose 0.5% thanks to a higher volume of orders, aided by the popularity of its chicken al pastor and extra servings of protein. That surpassed the decline of almost 1% that analysts polled by Bloomberg had anticipated. The company maintained its guidance for flat full-year comparable sales.

See omnystudio.com/listener for privacy information.

Transcript

Speaker 1

Bloomberg Audio Studios, Podcasts, radio News.

Speaker 2

The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.

Speaker 1

I'm Jim Staneveec along with Carol Masser. Let's take a look at some stocks on the move today. We're joined by Bloomberg Television Markets correspondent Norah Melinda Nora. A lot moving in the after hours.

Speaker 3

Hey, so much to keep an eye on. Of course, big tech has really been in focus. We're seeing a lot of those names like Meta, Microsoft, Amazon in the red. The only one really pointing in the green right now is shares of alphabet ticker Googl. Of course, really the focus here still tends to be on capital expenditures. A lot of people really seeing these companies still continuing to spend.

Microsoft though capex was less than analyst anticipated, coming in at about thirty two roughly thirty two billion dollars, and we did have Meta lifting its spending guide for twenty twenty six to about one hundred and twenty five two one hundred and forty five billion dollars, them really citing center cost and higher component pricing. So you are seeing them getting a bit of a beating. Shares down about six and a half percent in the after hours trade.

Speaker 1

Yeah, I met also talking about facing higher component pricing this year, an additional data center costs, so that A certainly eats into things like margins.

Speaker 3

Can we go to Ford, Yeah, autos, Yeah, so ticker F We are seeing shares lower also in the after hours trade. The company did boost its full year profit guide. They're seeing strong demand for high margin pickups and SUVs, they're hoping and this will really help it overcome the unexpected surge that we're seeing in some of these commodities costs.

But we did see that the company also burned through nearly two billion dollars in adjusted free cash flow as it spends on its thirty thousand dollars EV truck that's coming out next year. So investors early parsing that still.

Speaker 2

Kind of sounds like a barking.

Speaker 1

I'll take one, No, but I really take it.

Speaker 2

Some guacamole right now, tell me about it.

Speaker 3

The extra carol that would hit well, a lot of people apparently liking guacamole. They're also liking chicken, extra protein, really louring diners here at Chipotle Mexican grill Tick or CMG. We're seeing shares hire by about six percent in after hours training. The company keeping its guidance a flat for the full year in terms of its comparable sales, but we did see sales beating and so the stock is still down about eleven percent year today, but people clearly coming back to the company.

Speaker 2

The Stockmovers 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.

Transcript source: Provided by creator in RSS feed: download file
For the best experience, listen in Metacast app for iOS or Android