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Closing Bell: Alphabet & IBM Results, Meme Stock Swings | Stock Movers
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July 23, 2025
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July 23, 2025
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- Alphabet (GOOG) reported better-than-expected revenue but said 2025 capital expenditures will be higher than previously forecast, intensifying pressure on the company to justify the investments it is making to keep up in the AI race. Shares slipped about 2.8% in late trading after the search giant said capital expenditures would be $85 billion, compared to the $75 billion the company guided earlier this year. Second-quarter sales, excluding partner payouts, were $81.7 billion, the Google parent said Wednesday in a statement. Analysts had projected $79.6 billion on average, according to data compiled by Bloomberg.
- Opendoor (OPEN) had a down day as the newest meme stocks see wild swings. Stocks are at all-time highs. Chatter on WallStreetBets is surging. Retail traders are flooding into low-priced shares. It’s not 2021, and the shares of the moment aren’t GameStop Corp., AMC Entertainment Holdings Inc. or the now-bankrupt Bed Bath & Beyond. In 2025’s meme stock mania, the companies du jour are Opendoor Technologies Inc. and Kohl’s Corp. The similarities are clear: Like the episode four years ago, which famously led Gabe Plotkin to shutter his hedge fund Melvin Capital Management, amateur traders are piling into heavily shorted companies with low share prices in a bid to strike quick riches. And, as was the case back then, it comes at a time of broad market euphoria: the S&P 500 is at an all-time high, Bitcoin has doubled in less than year and blank-check companies are all the rage again.
- IBM (IBM) reported weaker-than-expected sales in its closely watched software segment, disappointing investors who have grown increasingly optimistic about the business.Second-quarter software unit sales increased 10% to $7.39 billion, slightly below analysts’ average estimate of $7.49 billion. The company’s consulting business, which has been experiencing a growth slump, generated a revenue bump of 3% to $5.31 billion.Investors have grown enthusiastic about IBM’s software business and the potential for future growth from artificial intelligence tools and quantum computing. The company’s management has heralded software and services as the path to rejuvenation since the 1990s. However, only recently under Chief Executive Officer Arvind Krishna has the approach really begun to materialize.
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Closing Bell: Alphabet & IBM Results, Meme Stock Swings
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