Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Microsoft (MSFT) shares are higher after it reported strong fiscal fourth-quarter results on Wednesday afternoon. Its shares were initially up as much 4% in after-hours trading. The closely-watched sales growth rate in the company's Azure cloud unit was 43% versus expectations of 40%.
- Meta (META) shares are falling after the Facebook parent gave a revenue outlook that is seen as disappointing. It also raised the low end of its full-year forecasts for both capital expenditures and total expenses, adding to concerns about when spending on AI will translate into better growth.
- Arm Holdings (ARM) shares are declining in early trading after the company pointed to sluggishness in the smartphone industry.
- Starbucks (SBUX) and Chipotle (CMG) shares are moving after they raised their guidance after stronger-than-expected quarters, with sales bolstered by new menu items and revamped loyalty programs. The results show that diners are still willing to spend if the prices and flavors are right, offering hope to consumer companies amid rising gas prices and concerns about cutbacks on restaurant outings.
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