Stocks: 3 hot tickers on Yahoo Finance that are not Alphabet, Microsoft, or Spotify – Yahoo Finance
Lackluster earnings and outlooks from Alphabet, Microsoft, and Spotify late Tuesday have cast clouds over an already nervous stock market.
Alphabet and Microsoft both signaled a more watchful eye on expenses as the economic slowdown rages on. And Spotify — similar to Alphabet — called out economic-related weakness in the advertising market as one reason for its tepid results.
All three household name tech stocks plunged on the downbeat commentary. They were also the most visited ticker pages on Yahoo Finance as of Wednesday afternoon.
But these tech giants aren't the only ones factoring into investor decision-making on Wednesday.
Here are a few other hot tickers today that caught our attention:
Reporting earnings on Wednesday, Skechers missed Wall Street profit estimates, lowered its outlook, and saw inventories balloon 21% (the latest retailer to warn of bloated inventories).
Chief Financial Officer John Vandemore said in the earnings release that the company faces “multiple macroeconomic headwinds, from foreign exchange rates to supply chain challenges and ongoing COVID-related lockdowns.”
Skechers stock fell around 4%.
The payments company had a strong third quarter, echoing what American Express CEO Stephen Squeri told Yahoo Finance about strong consumer spending right now.
Payments volume at Visa grew 10% in the fiscal fourth quarter while processed transactions increased 12%.
“As we’ve said before, we are not economic forecasters," the company's Chief Financial Officer Vasant Prabhu said. "Clearly, there’s a high risk of a global recession, but we do not have a specific point of view on if, when, or the kind of recession we might have."
Prabhu added that “for internal planning purposes,” Visa is “assuming no recession," but the company remains “vigilant” and will have “contingency plans in place should we have an economic or geopolitical shock that impacts our business."
Visa stock is up more than 4%.
Shares of the oil major rose more than 5% as the company benefited greatly from higher prices for crude oil in the third quarter.
Halliburton more than doubled its profits in the third quarter from a year ago, fueled by strong demand for oil-field services amid higher energy prices.
CEO Jeff Miller said revenue grew by 6% from the previous quarter “as activity and pricing increased simultaneously in North America and International markets.”
Miller believes structural demand for more oil and gas supply will continue to provide strong tailwinds for Halliburton’s business.
One area of concern for oil bears to feast on: Revenue in the Europe and Africa region declined by 11% sequentially, almost entirely because of the exit from Russia.
Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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