Internet ad names rally in wake of Alphabet results, with Meta on tap
anyaberkut/iStock via Getty Images

Internet ad-exposed companies that have moved down in step as analysts have fretted about the space - and particularly anytime Snap (NYSE:SNAP) has bad news - are surging higher today after digital ad elephant Alphabet (NASDAQ:GOOG) (GOOGL) offered plenty of data points of not-so-bad news.
Alphabet has surged sharply higher today - (GOOG) +7%, (GOOGL) +7.1% - after results that were largely in line with expectations calmed worries about a potential ad apocalypse. Company execs warned on the earnings call that tough comparisons were still ahead for the rest of 2022, but analysts largely thought the company was climbing the wall of worry.
Its "duopoly" partner Meta Platforms (NASDAQ:META) is 5.3% higher ahead of its own highly anticipated quarterly report, due after Wednesday's closing bell. Meta's expected to face headwinds, so as with its rivals, eyes will be on any forecasts the firm can give.
Twitter (TWTR) had typically moved in concert with its Internet ad peers, but as its drama with Elon Musk advances, it's decoupled from them somewhat and is up just 0.4% Wednesday. And long-suffering Snap (SNAP) is still lower by 0.5%.
Pinterest (NYSE:PINS), meanwhile, has tended to show amplified reactions to peers' moves - in either direction - and Wednesday, it's 8.8% higher. (Pinterest had also been linked last year to a potential takeover by PayPal, which is higher Wednesday on a reported Elliott Management stake.)
Moves up by some of the stocks are also lifting a social-media focused ETF Wednesday.