↘️ Alphabet , : Shares of Google's parent company tumbled in early trading after the tech giant reported disappointing sales growth in its cloud business. ↗️ Microsoft : The software titan reported better-than-expected revenue growth for the latest quarter, amid strengthening demand for its cloud-computing services. The stock rose 3.7% and was the best performer in the Dow industrials. ↘️ Automatic Data Processing : Shares of the payroll services company fell more than 8%.
↗️ T-Mobile : The cell carrier's stock wavered after the company reported a rise in quarterly profit on the back of bigger-than-expected subscriber gains. ↘️ General Motors : The U.S. automaker and Honda , scrapped plans to jointly develop lower-priced electric vehicles. This came after Cruise, which is majority controlled by GM, had its driverless-car permits suspended in California on Tuesday. GM's stock fell 2.7% in early trading Wednesday.
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