Alphabet Stock up 3.5% Despite $5 Billion Antitrust Fine
Alexis Melvin, associate at Adviser Investments, has the market analysis for Monday, July 23. It was a quiet day for the major U.S. stock indexes: The Dow Jones Industrial Average declined just under 0.1% and the S&P 500 and NASDAQ Composite advanced 0.2% and 0.3%, respectively. Alphabet (ticker: GOOG) surpassed quarterly sales and earnings expectations despite the European Union’s recent $5 billion antitrust fine against the company. GOOG gained over 3.5% in after-hours trading. Meanwhile, we also saw U.S. existing home sales decline for the third consecutive month, down 0.6% in June. Tomorrow, Harley-Davidson, Verizon and Biogen will report earnings.
Daniel Wiener Chairman Jeffrey DeMaso Director of Research Chris Keith Senior Vice President, Fixed Income Elizabeth Kesselman Vice President Jim Lowell Partner, Chief Investment Officer Charles Toole Vice President, Portfolio Manager Elizabeth Laprade Research Analyst July 27, 2018