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Microsoft’s fiscal fourth-quarter earnings and revenue beat Wall Street expectations.
Uncredited
Stock futures traded lower Wednesday with Wall Street expecting the Federal Reserve to boost interest rates for the 11th time since early 2022. There is a lot of uncertainty, however, on the central bank’s next move.
These stocks were poised to make moves Wednesday:
Microsoft
(MSFT) reported fiscal fourth-quarter earnings and revenue that beat Wall Street expectations but the stock was down 3.7% in premarket trading after revenue guidance for the fiscal first quarter came up shy of estimates and the company highlighted the rising costs of its investments in artificial intelligence.
Shares of
Alphabet
(GOOGL) were rising 6.6% after the parent of search giant Google reported second-quarter earnings that were better than expected and announced that Chief Financial Officer Roth Porat would become president and chief investment officer starting in September. Porat will be responsible for the company’s Other Bets portfolio.
Alphabet
also touted a range of investments in artificial intelligence during its conference call.
Chip manufacturer
Texas Instruments
(TXN) posted second-quarter earnings that topped analysts’ expectations but issued a revenue forecast for the third quarter that was slightly below estimates.
Texas Instruments
said it expects third-quarter earnings of $1.68 to $1.92 a share on revenue of between $4.36…
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