Stocks making the biggest moves premarket: Alphabet, Microsoft, Meta Platforms, Eli Lilly, Merck & more

**Summary:**On October 30th, major companies like Alphabet, Meta, and Microsoft reported earnings, causing significant stock movements. Alphabet's stock surged over seven percent due to strong results from Google Cloud and YouTube advertising. Meta's stock plummeted more than eight percent, despite beating forecasts, as investors worried about increased AI spending. Microsoft's stock slipped about two percent after announcing higher spending plans.In healthcare, Eli Lilly's stock rose five percent on solid results and increased revenue outlook, while Merck fell three percent due to mixed results and lower-than-expected Keytruda revenue.Consumer stocks saw mixed results, with Comcast's stock rising nearly two percent and Starbucks dropping three percent due to weaker profits and missed revenue expectations. MGM Resorts and Shake Shack also missed expectations, causing their stocks to drop.Notable movers included Estee Lauder's six percent gain and Sprouts Farmers Market's twenty-two percent plunge due to disappointing sales. In the auto sector, Carvana tumbled over eight percent and Advance Auto Parts surged twenty-four percent after strong quarters. EBay also stumbled, down more than eight percent, due to a tough fourth quarter outlook.Traders closely watched these earnings reports for clues about future performance, with strong cloud and advertising growth helping some tech giants and higher spending and cautious forecasts tempering excitement in others. The market will continue to monitor how companies balance growth, spending, and consumer demand as the year ends.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.