Trump Tax Plan, Starbucks, Tech Earnings Roundup: AMZN, MSFT, GOOGL, INTC

On today’s episode of the Zacks Friday Finish Line, Content Writer Ryan McQueeney and Editor Maddy Johnson take on this week’s biggest stories, including Trump’s new tax reform outline, Starbucks earnings, and the latest financial results from some of the world’s biggest tech companies.

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It was an incredibly busy week for earnings, but Maddy and Ryan paused to briefly discuss President Trump’s new tax reform outline. The administration is promising that it will be one of the biggest individual tax cuts in history, but so far the outline fits on a single page.

Investors weren’t surprised by the plan, and it looks like some sort of tax reform is already priced into the market. Nevertheless, as this one page outline evolves into an actual bill, we should all be paying attention.

The hosts then dove into earnings, starting with Starbucks (NASDAQ:SBUX) . The coffee giant matched earnings estimates, but total revenue fell just short. Nevertheless, Starbucks reported impressive comps in China and solid loyalty program growth.

Find out more here: Starbucks Meets Q2 Earnings Estimate, Comps Increase 3%

Next up, Maddy and Ryan discussed the week’s tech earnings. First on the docket was Microsoft (NASDAQ:MSFT) . The software giant-turned-cloud leader posted a nice earnings beat, but investors were more interested in the growth of its individual business segments.

Check out those results here: Microsoft Matches Revenue Estimates, Azure Grows 93%

The hosts also covered Intel (NASDAQ:INTC) , another tech giant that was able to post a solid earnings beat. However, investors were less-than-impressed with Intel’s full results, and shares moved lower shortly after the release of the report.

Find out why: Intel Posts Q1 Earnings Beat, Internet of Things Revenue Up 11%

Next was Amazon (NASDAQ:AMZN) . The e-commerce behemoth crushed earnings estimates, and AWS continued to swell. There may be a plateau in the distant horizon, but it looks like Amazon’s cloud-based web services platform is still a consistent profit maker.

Get the full details here: Amazon Crushes Q1 Earnings Estimates, Stock Soars

And finally, the Finish Line team covered Alphabet Inc.’s (NASDAQ:GOOGL) results. Shares of GOOGL were gaining after the company’s earnings and revenues topped our consensus estimates, and it looks like its new ad strategy is paying off.

Read more: Alphabet Rallies on Q1 Earnings Beat, Solid Ad Sales

As a reminder, if you feel that we missed something, or if you want us to cover a different story, shoot us an email at podcast@zacks.com. Make sure to check out all of our other audio content at zacks.com/podcast, and remember to subscribe and leave us a rating on iTunes.

As always, thanks for listening to this special edition of the Zacks Friday Finish Line, and check back for even more news from the investment and financial world!