Amazon, Google and Microsoft hit new highs; Skechers gets crushed

Kathy Cherpelis
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Here are some of the stocks the Yahoo Finance team will be tracking for you today

Procter & Gamble (PG) reported better-than-expected earnings as cost cuts helped profits. However, sales disappointed, as they were short of forecasts. Revenue fell nearly 12% in the third quarter due to weak demand for its products and a stronger dollar. P&G has been shedding the number of items it sells and refocusing its business on its core brands like Tide and Bounty.

Skechers (SKX), the footwear maker posted adjusted earnings per share that topped estimates. But revenue missed forecasts as it saw sluggish sales growth in the U.S. The company also blamed legal expenses and currency headwinds for the shortfall in sales.

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Microsoft (MSFT) reported a beat on both its top and bottom lines. The tech giant’s strategy to shift to the cloud is paying off as cloud sales jumped 8% last quarter

Alphabet (GOOGL), also known as Google, delivered stronger-than-expected earnings and revenue in the third quarter thanks to a big jump in searches on mobile phones and tighter spending habits. The company also surprised investors with its first stock buyback of $5.1 billion.

Amazon (AMZN) surprised Wall Street with a profit for the second quarter in a row. Revenue also surpassed estimates, as it benefited from strong sales in North America and explosive growth in its cloud computing business. Amazon also said its expects to see a record holiday season.

 

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