Previous close | 860.00 |
Open | N/A |
Bid | 0.00 |
Ask | 0.00 |
Strike | 1,760.00 |
Expiry date | 2024-06-21 |
Day's range | 860.00 - 860.00 |
Contract range | N/A |
Volume | |
Open interest | 1 |
Meta reported its Q1 earnings after the bell, beating analysts' expectations on the top and bottom, but a disappointing Q2 forecast sent shares falling.
Investors appear to be losing patience with Big Tech's prodigious artificial intelligence investments this week after Meta Platforms signaled deeper spending and a long road to profitability. The concession from Meta in its quarterly report late on Wednesday cast a cloud over Microsoft and Alphabet, which will both report quarterly earnings on Thursday. Meta's stock sank 15% in extended trade after it forecast higher AI spending next year, while Microsoft was down 2%, Alphabet fell 3% and Nvidia dropped 1.4% in reaction.
Shares of Meta Platforms tumble after a disappointing outlook, while IBM slumps after revenue misses analysts’ estimates. Microsoft, Alphabet, and Intel are scheduled to report earnings after the close of trading Thursday.