Live Nasdaq Composite: GOOGL (Nasdaq: GOOGL) Rises, INTC (Nasdaq: INTC) Sinks on Tech Earnings Day
Key Points
- After three straight days of gains, the markets are showing a lack of conviction this morning in either direction.
- Tech earnings are in the spotlight, and Alphabet is a clear winner while INTC is being punished for disappointing guidance.
- Most Americans don’t realize how shockingly good personal loans are today, with 6.4% rates and no hit on your credit score there is nothing to lose, you can get started today. (sponsored)
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Wall Street Bullish on GOOGL
Wall Street analysts are getting increasingly bullish on Alphabet (Nasdaq: GOOGL) stock, which is tacking on 2% in today’s market.
Bank of America is bullish on GOOGL, raising its price target to $200 per share from $185 with a “buy” rating attached.
Citi also raised its price target on GOOGL to $200 in the wake of the company’s strong quarterly results.
Piper Sandler predicts GOOGL price will hit $195 and has an “overweight” rating on shares.
Wells Fargo analysts lifted their price target on the stock to $175 with an “equal weight” rating.
GOOGL stock is currently hovering at $163 per share.
Markets Attempt Gains
The stock market is attempting to move higher, including a 0.36% gain in the Nasdaq Composite. Alphabet (Nasdaq: GOOGL) is holding onto 2% gains while Tesla (Nasdaq: TSLA) is soaring by 8%, helping to lift the tech-heavy Nasdaq Composite as autonomous driving makes its way closer to the mainstream. Tesla shares are up 24% over the past five-day stretch.
Resilient Consumers
Consumer sentiment surprisingly improved toward the end of April amid a resilient consumer despite the tariff uncertainty. The University of Michigan published the final reading of its consumer sentiment index, which rose 52.2 compared with its initial view of 50.8 earlier this month. Economists were expecting the reading to remain flat. Nevertheless, the index fell sharply from March levels and has been on the decline in 2025. Today is the ex-dividend date for Coca-Cola (NYSE: KO), CSW Industrials (CSWI) and Fastenal Company (Nasdaq: FAST).
After a three-day winning streak, the markets are getting off to a slower start, with all three of the major stock market averages meandering between positive and negative ground this morning. Small-cap stocks are out front with a 2% jump in the Russell 2000 index. Google parent Alphabet (Nasdaq: GOOGL) is tacking on 4% after yesterday afternoon’s strong earnings print.
Mag 7 stock Alphabet beat consensus estimates on both the top and bottom lines, in response to which shares have been soaring ever since. Alphabet reported $2.81 per share on revenue of $90.2 billion compared with Wall Street estimates of $2.01 per share on revenue of $89.1 billion.
Bank of America’s Michael Harnett is bearish on stocks due to the trade uncertainties, advising investors to remain defensive, sell the SPX/US$ rallies and buy price dips in gold.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 61.79 (-0.18%)
Nasdaq Composite: Down 8.78 (-0.07%)
S&P 500: Down 5.01 (-0.09%)
Tech Roundup
Intel (Nasdaq: INTC) beat on the top and bottom lines with better than expected profits and revenue. But the markets are focused on the outlook, and Intel’s revenue guidance for the current quarter fell shy of consensus estimates, sending shares lower by 7% this morning.
T-Mobile (Nasdaq: TMUS) shares are under pressure, falling 9% after the company revealed disappointing subscriber numbers in its quarterly print despite beating on the top and bottom lines.
Pony AI (Nasdaq: PONY) shares are continuing their wild ride, soaring 17.7% today after yesterday’s double-digit percentage rally.
Market Movers
Goldman Sachs has upgraded its rating on financial services stock Charles Schwab (NYSE: SCHW) to “buy” from “neutral,” citing “durable EPS growth.”
Citizens JMP has started coverage on fintech stock SoFi Technologies (Nasdaq: SOFI) with a “market outperform” rating and a $17 price target attached, implying there is runway for gains of nearly 40%.
Citi likes Super Micro Computer (Nasdaq: SMCI) and has started coverage with a “neutral” rating owing to “positive AI server demand.”
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