Alphabet tumbles on earnings, but traders see a buy


Alphabet is tumbling on earnings.

The Google parent fell more than 2% after the bell Monday after posting $10.12 in profit for the third quarter, $2.34 less than expected.

However, the third FANG name to report remains the best performer this month, rising more than 6% and besting gains in Facebook, Amazon and Netflix.

“I actually used that strength … to add to my portfolio last week,” Todd Gordon of TradingAnalysis.com said on CNBC’s “Trading Nation” on Monday before the release. “We’ve just been bumping up against this $1300 region and the rest of the FANGs have not. I’ll even point your attention to Google relative to the Nasdaq. You’re even seeing Google outperform the Nasdaq-tracking…

Source cnbc.com

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