How could IBM's buying HashiCorp help it? And what was it about Meta's earnings report that gave the market pause?
Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms. Three other Magnificent Seven stocks, including Alphabet, Amazon.com and Microsoft, finished lower. However, shares of Alphabet and Microsoft were advancing in extended hours trading after both companies reported quarterly results that beat Wall Street estimates.
IBM stock slipped after the computing giant reported first quarter earnings ahead of expectations, with sales slightly below.