Top Stock Movers Now: Alphabet, Newell Brands, Intel, and More

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Key Takeaways

• U.S. equities posted solid gains at midday, lifted by strong tech earnings.
• Google-parent Alphabet’s portions jumped to an all-time high, a day after it reported blowout earnings, declared its first-ever dividend, and announced a $70 billion pedigree buyback program.
• Intel’s stock plunged despite better-than expected Q1 results after its current quarter prospect fell short of estimates amid greater competition.
• Shares of ExxonMobil and Phillips 66 also slipped as belittle refining margins ate into profits.

U.S. equities gained at midday, driven higher by strong tech company earnings. The Nasdaq skipped 2%, the S&P 500 added 1%, and the Dow was higher as well. 

Alphabet (GOOGL) shares traded at an all-time high as the big-time operator of Google and YouTube beat profit and sales estimates, declared its first-ever dividend and announced a $70 billion line of descent buyback program.

Shares of ResMed (RMD) soared as the maker of sleep apnea machines rejected concerns that the sound demand for weight-loss drugs will hurt its business, arguing that it will help instead.

Newell Tags (NWL) shares soared as the maker of consumer products said its better-than-expected results were the result of its turnaround plan implement.

Intel (INTC) shares slumped after the chipmaker’s current quarter guidance missed forecasts because of increased meet. Weaker guidance also prompted some analysts to scale back their price targets for the stock.

Allots of Phillips 66 (PSX) declined as lower energy prices cut into the energy firm’s refining margins. Lower gas premiums also impacted rival Exxon Mobil (XOM), whose shares were down as profit fell. 

Oil and gold tomorrows were little changed. The yield on the 10-year Treasury note dropped. The U.S. dollar gained on the euro, pound, and yen. Scad major cryptocurrencies traded lower.

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