Investing.com -- Stocks were mixed on Wednesday, as the tech sector outperformed on the strength of earnings from Microsoft. Here are the market movers for April 26.
- Microsoft Corporation (NASDAQ:MSFT) stock rose 7.9% after the software giant beat expectations for the recent quarter. It is focused on incorporating artificial intelligence into its systems. Meanwhile the U.K.'s competition regulator said it won't allow Microsoft's deal to buy Activision Blizzard Inc (NASDAQ:ATVI) to go through, pushing shares of the game maker down 11%.
- Enphase Energy Inc (NASDAQ:ENPH) shares fell 24% after the solar panel maker hinted at slowing growth because of weakening demand. Second-quarter revenue is forecast to be between $700 million and $750M, which is short of expectations.
- Chipotle Mexican Grill Inc (NYSE:CMG) shares jumped 14.6% after the burrito maker posted better than expected results, fueled by same-store sales growth as pricing power held up.
- First Republic Bank (NYSE:FRC) shares fell another 18% as the San Francisco-based regional bank remains under pressure after reporting a sharp drop in deposits in the first quarter. The company is reportedly eyeing asset sales.
Thermo Fisher Scientific Inc (NYSE:TMO) shares dipped 2% after the maker of scientific instruments reported lower COVID-related testing revenue.