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Wall Street Breakfast Podcast: Big Tech Lights Up The Premarket
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(01:39) Norway’s $2.2 trillion sovereign wealth fund reduces stakes in top U.S. tech firms.
Meta Platforms (META) is up more than 7% premarket after posting its fourth-quarter earnings, where it beat Wall Street expectations for revenues and profitability.
First-quarter revenue is forecast at $53.5B-$56.5B, which is above expectations for $51.4B, including about a 4% tailwind to revenue growth from foreign currency.
Microsoft (MSFT) is down more than 5% premarket even after reporting fiscal second-quarter results that topped estimates.
For Q3, Microsoft expects total company revenue of $80.65 billion to $81.75 billion or growth of 15% to 17%.