Alphabet shares fell sharply after missing revenue expectations and outlining a hefty AI investment plan. Other notable movers include AMD, Uber, Apple, PDD, Johnson Controls, Lumen Technologies, Workday, Chipotle, Mattel, Match, Novo Nordisk, Electronic Arts, FMC Corporation, Toyota Motor, and Harley-Davidson.
Check out the companies making headlines in midday trading: Alphabet — Shares sank nearly 8% after the Google parent reported fourth-quarter revenue of $96.47 billion, short of the $96.56 billion expected from analysts polled by LSEG. Alphabet also said it will invest $75 billion in 2025 as it expands its artificial intelligence strategy, versus the $58.84 billion consensus estimate, according to FactSet.
On the other hand, Chipotle's adjusted earnings of 25 cents per share in its fourth quarter beat the 24 cents analysts surveyed by LSEG had estimated. Mattel — The toy maker climbed more than 14% after better-than-expected fourth-quarter results. Mattel reported 35 cents per share, excluding one-time items, on revenue of $1.65 billion. Analysts polled by LSEG forecast 20 cents per share on revenue of $1.63 billion. Match — Shares fell more than 7%.
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