Stocks to Watch: Alphabet, Microsoft, O-I Glass, PacWest Bancorp

By Sabela Ojea

Alphabet Inc. on Tuesday reported first-quarter earnings and revenue that topped estimates, including one-time expenses tied to cost cutting and higher investment income. Shares of Google's parent rose 1.2% to $105.13 in after-hours trading.

Microsoft Corp. reported stronger-than-expected results for the most recent quarter even as economic concerns cooled corporate demand for the company's software and cloud services. Shares of the software giant surged 8.5% to $298.95 in after-hours trading.

O-I Glass Inc.'s adjusted first-quarter earnings beat Wall Street's expectations by 50% and the company raised its outlook for the year. Shares of the glass maker climbed 9.3% to $23.00 in after-hours trading.

PacWest Bancorp said deposits have stabilized in recent weeks, even though they were still down on a quarterly and annual basis. Shares of the regional bank rose 13% to $11.65 in after-hours trading.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

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April 25, 2023 19:25 ET (23:25 GMT)

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