Stocks to Watch Wednesday: AMD, Alphabet, Novo Nordisk -- WSJ

Dow Jones
02-05

By WSJ Staff

Alphabet $(GOOGL)$: A slowdown in Google's cloud-computing sales helped drag down Alphabet's overall revenue growth to its lowest rate since 2023. Shares tumbled about 7% in premarket trading.

Advanced Micro Devices $(AMD)$: The chip maker posted a big jump in revenue in its data-center business, but the results undershot analysts' rosy forecasts. AMD shares fell 9% ahead of the opening bell.

Chipotle Mexican Grill $(CMG)$: The restaurant chain cut its sales outlook for this year, knocking shares premarket. Investors fear President Trump's tariff threats on Mexican and Canadian imports could drive up Chipotle's costs.

Mattel $(MAT)$: The toy maker's shares rocketed 15% premarket after it forecast higher earnings this year, boosted by greater expected demand for its Barbie dolls. Mattel also announced a stock buyback.

Nissan (JP:7201) and Honda (JP:7267, HMC): Nissan's board plans to reject Honda's terms for a merger, endangering a plan announced less than two months ago. In Tokyo, Nissan shares fell about 5%, while Honda's rose 9%.

Novo Nordisk $(NVO)$, (DK: NOVO.B): The Ozempic and Wegovy maker forecast sales growth would slow this year, but posted stronger-than-expected net profit and sales for last quarter. Shares gained nearly 4% in Denmark.

Match $(MTCH)$: The dating-app company, which owns Tinder and Hinge, said it had replaced its chief executive as it posted a drop in quarterly earnings and forecast sales that missed investors' expectations. Shares fell about 9% offhours.

Walt Disney $(DIS)$ and Uber Technologies $(UBER)$ are scheduled to report earnings before markets open today.

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(END) Dow Jones Newswires

February 05, 2025 05:10 ET (10:10 GMT)

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