For those two companies, it was a tale of two different big tech quarters alphabet has certainly been the laggard this year. Underperforming not just its big tech peers, but the nasdaq amazon has been a standout, 70 gains. Alphabet had a low bar and amazon had a high one. Did they deliver we can look at a number of metrics, what i want to drill down on particularly is cloud. These are the companys newer growth engines cloud numbers came in only in line with expectations revenue up 29 year over year. Love large numbers but google cloud, revenue was up 45 and now the company is going to break it out as its own segment. Have a listen to what was said last night. Given the progress we are making and the opportunity for the cloud in this growing global market, we continue to invest aggressively in our gotomarket capabilities and extending the global footprint you will see information about the scale of our investments so investors are going to be able to see exactly how much google is inves
If youre heading to Southern California, theyre good to go. Were going to have warm temperatures later in the week. To the north, clouds and rain, to the south, clouds. 60s to near 70 on the temps. Here is sal castaneda. Reporter steve, good morning to you. Traffic is doing pretty well. We dont have a lot going on. As a matter of fact, traffic continues to look pretty good as i show you a little bit of the oakland area. You can see traffic is moving along nicely. Altamonte pass, not a bad commute as you drive from tracy into livermore. This week, its going to be different because some people have the week off. Lets go back to the desk. Closing arguments scheduled today in the case of the undocumented immigrant killing kate steinle in San Francisco. A jury will decide if zarate is convicted of first degree murder, Second Degree murder, involuntary manslaughter, or found not guilty of any charges. Steinle was killed july 1st, 2015 as she walked with her father on pier 14 in San Francisco
On wall street, and squawk alley is live good friday morning, welcome to squawk alley. Im Carl Quintanilla with john fortt, Morgan Brennan is at post 9 for the hour, sara eisen is off. S p 500 tech sector is the best performer this year by a long shot, up almost 40 . The question is, will this continue into the new year mark mahaney joins us to start off the hour, just published his 2018 internet sector outlook mark, always good to get your take happy friday good morning, carl. Whats the headline on this one . Going into 18 we have three constant and one change. At least for the internet aspect, theyve been extraordinarily consistent and we think those Revenue Growth trends can continue into next year second, the multiples are the same they havent changed over the last three years, which should mean the outperformance weve seen in the stocks to date, its all bottom line driven or Revenue Growth driven. Theres less downside risk, despite the outperformance going into 18 and the third th
But not for two stocks whose prices were plumped up by deal talk. We told you about 21st century fox withdrawaling the bid to acquire timewarner. Timewarner stock fell nearly 13 today. More on that in a moment. Today, we learned that sprint has hung up on its pursuit of rival wireless carrier tmobile, the big reason, unlikely Regulatory Approval to merge the nations number three and number four telecoms. Shares of sprint got slammed, down 19 , shares of tmobile fell, too, but a smaller more manageable 8 . What is next for sprint and for tmobile . Morgan brennan takes a look. Reporter the mobile wars continue, taking an unexpected turn that could leave sprint at a disadvantage. Sources confirm that the wireless carrier has abandoned the much anticipated bid for smaller rival tmobile. The industry is expecting the two to announce a merger in a deal that would value tmobile at 32 billion. This is difficult news for sprint. Sprint has all but abandoned almost any plan b other than merging
But not for two stocks whose prices were plumped up by deal talk. We told you about 21st century fox withdrawaling the bid to acquire timewarner. Timewarner stock fell nearly 13 today. More on that in a moment. Today, we learned that sprint has hung up on its pursuit of rival wireless carrier tmobile, the big reason, unlikely Regulatory Approval to merge the nations number three and number four telecoms. Shares of sprint got slammed, down 19 , shares of tmobile fell, too, but a smaller more manageable 8 . What is next for sprint and for tmobile . Morgan brennan takes a look. Reporter the mobile wars continue, taking an unexpected turn that could leave sprint at a disadvantage. Sources confirm that the wireless carrier has abandoned the much anticipated bid for smaller rival tmobile. The industry is expecting the two to announce a merger in a deal that would value tmobile at 32 billion. This is difficult news for sprint. Sprint has all but abandoned almost any plan b other than merging