Hot Stocks: GOOG, AMD, GM rally on earnings; SBUX, MRCY fall
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Big-name tech earnings dominated the headlines in Wednesday's pre-market period. Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL) and Advanced Micro Devices (NASDAQ:AMD) both soared following the release of their respective quarterly reports. 
General Motors (NYSE:GM) also received a lift, despite revenue that missed projections. The automaker drew buyers with its upbeat forecast for 2022.
On the other side of the ledger, Starbucks (NASDAQ:SBUX) and Mercury Systems (NASDAQ:MRCY) posted pre-market losses after they failed to live up to expectations with their financial figures.
Gainers
Google parent company Alphabet (GOOG)(GOOGL) jumped nearly 11% in pre-market action following the release of a better-than-expected earnings report and the announcement of a 20-for-1 stock split. 
Strength in Google's ad business allowed its profit to exceed expectations. Revenue jumped 32% to $75.3B.
Advanced Micro Devices (AMD) also posted a double-digit percentage rally before the opening bell. The stock soared 12% after beating expectations on both its top and bottom lines.
The company's quarterly non-GAAP EPS came in at $0.92, topping estimates by $0.16. At the same time, its revenue skyrocketed 49% to $4.83B -- more than $300M above analysts' consensus. Looking ahead, the firm's CEO pointed to its server business as a leader of "very strong" demand in 2022. 
General Motors (GM) was another earnings-inspired winner in the pre-market period, rising 2% on results that drew praise from the Wall Street community. While the company missed expectations with its revenue figure, it beat on the bottom line and issued confident guidance for 2022.
Decliners
The release of quarterly results put pressure on shares of Starbucks (SBUX). The stock retreated nearly 3% in pre-market action after inflation cut into its results for the holiday quarter.
Mercury Systems (MRCY) also dropped in response to its quarterly update. The company missed expectations on both its top and bottom lines. As a result, shares slipped nearly 9% before the opening bell.

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