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Midday movers: Microsoft, Alphabet, Boeing and more

Published Oct 25, 2023 07:46AM ET Updated Oct 25, 2023 01:44PM ET
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Investing.com -- U.S. stocks weakened on Wednesday as the tech sector was weighed down by Alphabet's disappointing revenue gains from cloud computing.

Here are some of the biggest stock movers today:

  • Microsoft (NASDAQ:MSFT) stock rose 2.4% after the software giant reported better than expected fiscal first-quarter results, driven by stronger growth in its cloud business Azure.

  • Alphabet (NASDAQ:GOOGL) stock fell 9.3% after the Google-parent reported weaker-than-expected gains in revenue from its cloud computing operation.

  • Boeing (NYSE:BA) stock fell 1.1% after the aircraft manufacturer stuck to its goal of generating $3 billion to $5 billion in free cash flow this year despite cutting its 737 delivery forecast for this year due to quality issues at supplier Spirit AeroSystems (NYSE:SPR).

  • Texas Instruments (NASDAQ:TXN) stock fell 4.5% after the chipmaker reported third-quarter revenue and current-quarter guidance that fell short of expectations as weaker industrial demand for chips broadened.

  • Deutsche Bank (NYSE:DB) stock rose 7.5% after the German lender promised more share buybacks next year and said it may return more capital to investors than it had previously envisaged.

  • Thermo Fisher (NYSE:TMO) stock fell 6.3% after the supplier of medical equipment cut its annual profit forecast for the second straight quarter following weak demand for its services used to make therapies and vaccines as well as higher raw material costs for the year.

  • T-Mobile US (NASDAQ:TMUS) stock fell 0.2% after the wireless carrier raised the lower end of its annual free cash flow forecast after quarterly subscriber additions and earnings topped estimates.

  • General Dynamics (NYSE:GD) stock rose 3.8% as demand for military equipment remains strong even as the Gulfstream jet maker reported a lower quarterly profit due to higher operating expenses.

Midday movers: Microsoft, Alphabet, Boeing and more
 

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Comments (2)
Derick Lim
Derick Lim Oct 25, 2023 9:02AM ET
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Lowered revenue, fortune telling free cash flow prediction and a promise future share buyback stocks rally.........a potential 🐂💩
Mitchel Pioneer
Mitchel Pioneer Oct 25, 2023 8:27AM ET
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Pre-market FRAUD well underway in the US Ponzi Scheme, laughingstock of the investing world.
 
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