MSFT, one of our stocks to watch, was trading at $236.14 as of 12:43 PM EDT.
Stocks were under pressure in Wednesday’s premarket trade as a result of subpar reports from Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT). Wall Street’s three-day winning streak would be snapped by a dip. The following information on GOOGL, MSFT, and other movers this Wednesday.
Stocks to Watch
1. Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL): Following the release of quarterly earnings that fell short on both the top and bottom lines, Alphabet experienced a decline in premarket activity. Although revenue increased by 6% from the prior year to reach roughly $69.1 billion, predictions were exceeded by more than $1.5 billion. The parent company of Google highlighted currency fluctuations and a decrease in advertising spending while describing the dismal results. This includes its YouTube video-sharing service.
2. Microsoft (NASDAQ:MSFT): In the wake of its financial results, Microsoft also lost ground. As 20% growth in its cloud services products offset worse results in personal computing, the software giant outperformed forecasts for earnings and revenue. Overall, the company’s top line increased 11% from the previous year to reach $50.1 billion. But MSFT’s net profits fell by 14%. The stock dropped almost 6% in premarket trading as investors worried about short-term economic challenges and currency fluctuations.
3. Kraft Heinz (NASDAQ:KHC): The stock of Kraft Heinz increased 3% before the opening bell as a result of positive earnings news. The manufacturer of packaged foods generated organic sales growth that was over 12% higher than anticipated thanks to significant pricing power.
4. Texas Instruments (NASDAQ:TXN): With its Q3 results, Texas Instruments exceeded expectations, with sales increasing by about 13% from the previous year. The company, however, provided a mediocre prediction, estimating Q4 EPS to range between $1.83 and $2.11. The $2.26 target was what analysts were expecting. The bleak prognosis caused shares to fall more than 5% in premarket trading.
5. ServiceNow (NYSE:NOW): Following the closing bell, ServiceNow (NYSE:NOW) will release its quarterly earnings. On top of a predicted 23% increase in revenue, the corporation is anticipated to report a profitability growth of 19%. Analysts anticipate total earnings per share of $1.85 on $1.85 billion in revenue.
Examine the broader market to understand why renowned J.P. Morgan analyst Marko Kolanovic believes the recent decline in stocks with a Chinese focus creates a buying opportunity.
NIO Stock And Other EVs Drop On China Growth Concerns
Featured Image- Unsplash @ attpedro
Author Jowi Kwasu 
