5 stocks to watch for Wednesday: Alphabet, Microsoft, Kraft Heinz and more
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Poorly received results from Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) and Microsoft (MSFT) put pressure on stocks in premarket trading on Wednesday. A decline would break a three-day winning streak for Wall Street. Here are details about GOOGL and MSFT and other stocks to watch for Wednesday:

Alphabet (GOOG) (GOOGL) dropped in premarket trading after it reported quarterly results that missed expectations on both the top and bottom lines. Revenue rose 6% from last year to reach about $69.1B, but that came in more than $1.5B short of projections. In discussing the disappointing results, the Google parent cited currency exchange and a pullback in advertising spending on places like its YouTube video-sharing service.
Microsoft (MSFT) also lost ground in the wake of its financial figures. The software giant exceeded estimates on earnings and revenue, as 20% growth for its cloud services products counteracted weaker results in personal computing. Overall, the firm's top line expanded 11% from last year to reach $50.1B. However, MSFT's net income dropped 14%. Amid concerns about near-term economic headwinds and currency exchange, the stock fell over 6% in premarket action.

Earnings news gave a lift to Kraft Heinz (KHC), with the stock rising 3% before the opening bell. The packaged food maker benefited from strong pricing power, turning in better-than-expected organic sales growth of nearly 12%.
Texas Instruments (TXN) beat projections with its Q3 results, including revenue that rose nearly 13% from last year. However, the company issued a lackluster forecast, predicting Q4 EPS of $1.83 to $2.11. Analysts were looking for a figure of $2.26. With the weak outlook, shares dropped more than 5% in premarket action.
ServiceNow (NOW) is scheduled to report its quarterly results after the closing bell. The company is expected to post 19% earnings growth on revenue that is predicted to climb by about 23%. In terms of totals, analysts are looking for an EPS figure of $1.85 on revenue of $1.85B.


Looking at the broader market, see why J.P. Morgan's high-profile analyst Marko Kolanovic says the recent drop in China-based stocks represents an opportunity to buy.