U.S. stocks were flat following the lower than expected economic growth in the second quarter and gloomy earnings reports from oil majors ExxonMobil and Chevron CVX -1.40%.
Facebook (FB, Tech30) disclosed on Thursday that it could owe billions due to an IRS investigation into the way it moved assets to an Irish subsidiary to avoid higher taxes.
Exxon Mobil Corp. and Chevron Corp. missed profit and production estimates as wildfires, writedowns and weak refining margins battered oil explorers already reeling under a glut-driven price collapse.
Amazon and Facebook - I have no financial interest in their securities - reported expectations-beating revenue and profit growth and boosted their forecasts.
Google recently announced its quarterly earnings, and the results are encouraging. The high demand for Google ads, especially on a certain platform, boosted the revenue and profits of the company as well as the value of Alphabet's shares.