Google Advertising Falls Short

Plus, AMD’s dull sales forecast.

Today is Wednesday, January 31, 2024.

The Early Bird Index today is 64.41.

New to this newsletter? Sign up here

Google Advertising Falls Short

Google parent Alphabet (Nasdaq: GOOGL) dropped 5.72% in after-hours trading on Tuesday after the media and technology giant reported financial results.

Financials: Alphabet reported earnings of $1.64 per share in the past quarter and revenue of $86.3 billion; both were better than expected.

Powering the Story: While Google’s advertising business grew from $59 billion to $65.5 billion, investors had higher expectations for Google.

Final Thoughts: Alphabet is up over 50% in the past year. There were some bright spots, such as a rise in services revenue, but investors wanted more from Google’s advertising business during the holiday season quarter.


Notable Earnings Today: Boeing (NYSE: BA), Qualcomm (Nasdaq: QCOM), Phillips 66 (NYSE: PSX), Align Technology (Nasdaq: ALGN), GlaxoSmithKline (NYSE: GSK), Brinker International (NYSE: EAT), Automatic Data Processing (Nasdaq: ADP), Vista Outdoor (NYSE: VSTO), Roper (Nasdaq: ROP), Mastercard (NYSE: MA), Aflac (NYSE: AFL), Novo Nordisk A/S (NYSE: NVO), Thermo Fisher Scientific (NYSE: TMO), Teva Pharmaceutical Industries (NYSE: TEVA), AvalonBay (NYSE: AVB), Boston Scientific (NYSE: BSX), Hess (NYSE: HES), MetLife (NYSE: MET), Old Dominion Freight Line (Nasdaq: ODFL), Meritage Homes (NYSE: MTH), Corteva (NYSE: CTVA), Aptiv (NYSE: APTV), Avery Dennison (NYSE: AVY), C.H. Robinson (Nasdaq: CHRW), Core Labs (NYSE: CLB), Digi International (Nasdaq: DGII), Evercore (NYSE: EVR), Extreme Networks (Nasdaq: EXTR), Flex (Nasdaq: FLEX), Fortive (NYSE: FTV), Hess Midstream Partners (NYSE: HESM), Kulicke & Soffa (Nasdaq: KLIC), Lennox International (NYSE: LII), MGIC Investment (NYSE: MTG), Nasdaq (Nasdaq: NDAQ), New York Community (NYSE: NYCB), PTC (Nasdaq: PTC), Qorvo (Nasdaq: QRVO), Rayonier (NYSE: RYN), Rockwell Automation (NYSE: ROK), Silicon Labs (Nasdsaq: SLAB), Tetra Tech (Nasdsaq: TTEK), UGI Corp (NYSE: UGI), Wolfspeed (NYSE: WOLF), Century Communities (NYSE: CCS), Nextracker (Nasdsaq: NXT), Marketaxess Holdings (Nasdaq: MKTX), M/I Homes (NYSE: MHO).

Notable IPOs Today: FibroBiologics, Inc. Common Stock (Nasdaq: FBLG).

Notable Equity Crowdfunding Campaigns Ending Today: Bud Love (Wefunder), DARKMATR (Wefunder), Venice Duck Brewery (Netcapital), ESTV (Republic), Legacy Pie Co. (Mainvest), VideoXRM (Netcapital), GravyStack (Wefunder).

Notable Economic Events Today: ADP Nonfarm Employment Change (8:15 a.m. ET), Employment Cost Index (8:30 a.m. ET), Chicago PMI (9:45 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), Fed Interest Rate Decision (2:00 p.m. ET), FOMC Statement (2:00 p.m. ET).

AMD’s Dull Sales Forecast 

Shares of Advanced Micro Devices (Nasdaq: AMD) dropped 6.49% in after-hours trading on Tuesday after the semiconductor company posted mixed financial results.

Financials: AMD reported earnings of 77 cents per share in the past quarter, which was in line. Revenue reached $6.2 billion, which was better than expected.

Powering the Story: The company predicts that sales will be about $5.4 billion in the current quarter, which was lower than expected.

Final Thoughts: AMD, up 128% in the past year, is still growing sales, but not at a high rate.

Microsoft Sees More Growth

Microsoft (Nasdaq: MSFT) ticked down 0.23% in after-hours trading on Tuesday after reporting financial results.

Financials: Microsoft reported earnings of $2.93 per share in the past quarter and revenue of $62 billion; both were better than expected.

Final Thoughts: Despite the drop in the stock price for Microsoft, the company is still in overall solid shape.

Expecting Failure: Why People Still Think Bitcoin Will Die (CoinDesk)

Thank you for reading!

Forward to a friend and tell them to sign up here.

Want more investing tips? Listen to the podcast.

Show Your Support: Buy Me a Coffee.

Questions or comments? Hit reply to reach out.