On this episode of Stock Movers:
- Alphabet (GOOGL) shares rise after the company reported first-quarter revenue and profit that exceeded analysts' expectations, driven by strength in its search advertising business. Google Cloud brought in operating profit of $2.18 billion, beating analysts’ estimates for $1.94 billion despite slightly missing expectations on sales. The results indicate that Google may be eking out more profits from Cloud even as sales slow.
- Apple (APPL) shares edged lower despite news it is seeking to import most of the iPhones it sells in the US from India by the end of next year, accelerating a shift beyond China to mitigate risks related to tariffs and geopolitical tensions.
- Skechers (SKX) shares drop after the footwear company said it’s not providing financial guidance and withdrawing its previous annual outlook due to macroeconomic uncertainty stemming from global trade policies. The company also reported first-quarter sales that trailed Wall Street’s expectations.