Dell Falls, Expedia Drops, Alphabet Rallies
Description
On this episode of Stock Movers:
- Dell (DELL) shares fell in trading today after Morgan Stanley downgraded it. A memory “supercycle” increasingly poses a risk to earnings of hardware original equipment and design manufacturers (OEMs and ODMs), Morgan Stanley analysts wrote as they cut ratings on HP, Dell, Pegatron and Asustek to underweight.
- Several online travel agencies, including Expedia (EXPE) declined today after Alphabet's Google announced the launch of an AI-powered feature that allows users to book flights and hotels. Expedia fell as much as 6.1%, the most intraday since May 9.
- Alphabet (GOOG) rallied on the news that Warren Buffett’s Berkshire Hathaway Inc. acquired 17.9 million shares of it. Berkshire’s Alphabet stake, representing 0.31% of the outstanding shares, according to a regulatory filing Friday, was worth about $4.9 billion as of the market close.
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