On Wednesday, Meta Platforms Inc META topped Wall Street estimates with its first quarter results. But, stock plunged 16% due to a light revenue guidance that overshadowed the fact its revenue grew at a fastest quarterly rate since 2021 and net income more than doubled. Like Apple Inc AAPL, Meta didn’t talk much about AI, until now.
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Alphabet breached the $2 trillion market value mark for the first time since November 2021 on Friday, as investors cheered the Google parent announcing its first-ever dividend and a $70 billion stock buyback.The stock was last trading up 11.7% at $173.55, after hitting a record high moments after the market opened.
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US stocks opened higher on Friday on megacaps' boost after robust quarterly results from Alphabet pushed its market value over $2 trillion while an in-line reading for a key inflation print calmed jitters around elevated interest rates. The Dow Jones Industrial Average rose 28.9 points, or 0.08%, at the open to 38,114.7. The S&P 500 rose 36.2 points, or 0.72%, at the open to 5,084.65.
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