Yahoo Finance is tracking Amazon, Alphabet and Starbucks in intraday trading on Friday.
Amazon (AMZN) – Wall Street is cheering on the stock after it surged past earnings expectations. A big standout in the report was Amazon’s cloud growth. Revenue jumped to $3.66 billion during the quarter. That’s up 43% from a year ago. Amazon reported earnings per share of $1.48 on total revenue of $35.7 billion. The stock is up nearly 25% since January 1. RBC raised its price target on the stock to $1,100 from $900, writing in a research note that Amazon “remains arguably the single best play off three of the biggest tech trends today – Cloud, AI & VAI.”
Alphabet (GOOGL) – Google’s parent company topped Wall Street earnings expectations in the first quarter, reporting earnings per share of $7.73 on revenue of $24.75 billion, driven by strong ad sales. Analysts were calling for EPS of $7.39 and revenue of $24.22 billion. The better than expected results prompted UBS to raise its price target on the stock from $980 to $1,050. In a research note Friday, the firm wrote that a “combination of raised forward estimates and slight multiple expansion in our valuation framework” as reasons for the PT hike.
Starbucks (SBUX) – Shares are falling after the company’s 3% growth in global same-store sales fell short of Wall Street expectations for the second quarter in a row. Starbucks reported earnings per share in line with estimates at 45 cents, but it missed on revenue. The company posted sales of $5.29 billion. The estimate was for $5.41 billion. Despite the miss, Oppenheimer is still bullish on the stock. The firm reiterated its outperform rating, noting “signs of better growth are ahead (at least 15% EPS), especially as elevated spending gets cycled.”
For more on Friday’s big stock movers, check out the Final Round, live at 4 p.m. ET, right here on Yahoo Finance.
