Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:
- Alphabet (GOOGL) shares sank this week after the Google parent’s third-quarter featured weaker-than-expected revenue for both Google advertising and search, which offset strong growth in its cloud business. Analysts said the report adds to concerns about AI disrupting search and related businesses.
- Intel (INTC) suffered its worst stock rout in more than four decades due to a PC industry slump and supply-chain snags that hurt its forecast. The company projects sales of $15 billion to $16 billion in the fourth quarter, with profit of 25 cents a share, excluding certain items, which is lower than analysts' estimates. Intel's stock fell as much as 30% in New York trading, and the company expects the PC downturn to persist through at least the first half of 2027, with a decline of 10% next year.
- Reddit (RDDT had its biggest share drop since its initial public offering after saying it is planning to limit access to its online forums. The company plans to start testing different approaches in markets outside of the US throughout the fourth quarter to get users to register for accounts and deepen engagement. Reddit’s shares fell to $95 when trading opened in New York on Friday, after the company posted a revenue outlook that fell below analysts’ estimates.
See omnystudio.com/listener for privacy information.