Major stock indexes traded mixed on Wednesday Dow Jones Industrial Average fell by almost 0.2% to 47,632 and the S&P500 remained stable at 6,890.59, while the Nasdaq rose 0.55% to 23,958.47.
The Federal Reserve cut the benchmark interest rate by 25 basis points to 3.75%-4.00% and announced that it would halt the outflow of its securities holdings from December 1, ending its quantitative tightening program. The decision, which received two votes against, reflected the Fed’s cautious approach in a context of slowing job growth, moderate economic expansion and persistent inflationary pressures.
Here are the top stocks that caught the attention of retail traders and investors all day:
Metaplatforms Inc. (NASDAQ:META)
Meta saw a slight increase of 0.03% in its shares to close at $751.67. The stock hit an intraday high of $759.16 and a low of $742.51, with a 52-week range of $796.25 to $479.80. In after-hours trading, the stock fell more than 7% to $696.30.
The company’s third-quarter earnings included a one-time, non-cash income tax charge of $15.93 billion. Meta Platforms reported revenue of $51.24 billion, up 26% year over year and above estimates, with adjusted earnings per share of $7.25. CEO Mark Zuckerberg highlighted strong achievements in AI and wearable technology, and pointed to major investments ahead. Despite the positive results, Meta shares fell in extended trading.
Alphabet Inc. (NASDAQ:GOOG)
Alphabet’s Class C shares rose 2.51% to close at $275.17. The stock hit an intraday high of $275.97 and low of $268.43, with a 52-week range of $275.97 to $142.66. In the after-hours session, Class C shares rose 6.73% to $293.69.
The company Class A Shares (NASDAQ:GOOGL) rose 2.65% for the day at $274.57. GOOGL gained 6.72% in after-hours trading, rising to $293.01.
Alphabet reported third-quarter revenue of $102.35 billion, up 16% year over year and above estimates, with earnings of $2.87 per share. Growth was driven by gains in Search, YouTube and Cloud, while CEO Sundar Pichai highlighted the rapid adoption of AI and Gemini’s 650 million users. Despite strong results, the company expected higher capital expenditures in 2025.
Chipotle Mexican Grill Inc. (NYSE:CMG)
Chipotle saw a 1.24% decline in its shares, closing at $39.76. The stock hit an intraday high of $40.65 and a low of $39.59, with a 52-week range of $66.74 to $38.30. In after-hours trading, the stock fell 16.5% to $33.19.
Chipotle reported third-quarter earnings of $0.29 per share, in line with expectations, while revenue of $3 billion slightly beat expectations of $3.02 billion. Comparable restaurant sales and margins declined modestly and the company opened 84 new locations.
Microsoft Corporation (NASDAQ:MSFT)
Microsoft experienced a slight decline of 0.10% in its shares, closing at $541.55. The stock hit an intraday high of $546.27 and low of $536.73, with a 52-week range of $555.45 to $344.79. Shares fell nearly 4% to $519.99 in after-hours trading.
Microsoft reported first-quarter revenue of $77.7 billion, up 18% year over year and above estimates, with earnings of $4.13 per share. Earnings per share for the period beat the Street estimate of $3.67. Growth was driven by strong cloud and AI performance, including a 40% increase in Azure revenue. Despite the positive results, shares fell 3% in after-hours trading.
Starbucks company (NASDAQ:SBUX)
Starbucks saw a 1.47% decline in its shares, closing at $84.17. The stock hit an intraday high of $84.89 and a low of $83.28, with a 52-week range of $117.46 to $75.50.
Starbucks reported fourth-quarter revenue of $9.57 billion, which beat expectations, while adjusted earnings of $0.52 per share fell short of $0.56 estimates. Global comparable store sales increased 1%, with international growth offsetting flat North American sales. Shares rose 1.8% in after-hours trading.
Benzinga’s Edge Stock Rankings indicate that Meta stock has a value in the 25th percentile. Here’s how the stock stacks up among other tech giants.
Prepare for today’s trading with top premarket movers and news from Benzinga.
Photo courtesy: MMD Creative at Shutterstock.com
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This story was generated with the help of Benzinga Neuro and edited by Shivdeep Dhaliwal
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