TREE NEWS reports: Alphabet fell more than 10% in US premarket trading after its third-quarter results missed expectations, with free cash flow declining sharply and capital expenditure also falling short. Marvell Technology dropped over 9% while Lumentum rose over 4% on reports Marvell is in talks to acquire the data-center optical module maker, with an announcement expected as soon as next week. Microsoft gained nearly 4% after Azure revenue beat with 48% growth.
US premarket: Alphabet drops over 10% on Q3 miss; Marvell falls 9% on Lumentum acquisition talks
AI take
Alphabet's double miss on free cash flow and capex lands alongside Microsoft's Azure beat, a split-screen that puts hyperscaler spending discipline — not just demand — under scrutiny. The Marvell-Lumentum move, meanwhile, shows optical interconnect is where the consolidation is heading as AI data-center buildouts intensify, and the market's divergent reaction to acquirer and target already prices in deal risk. Whether capex shortfalls at Alphabet prove a one-quarter blip or a broader pattern is the open question.
Generated by AI for reference only.
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