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Alphabet (GOOG) (GOOGL) stock rises on strong financial growth and quarterly beat: Key takeaways. (00:14) Meta's (META) increased capex, lackluster guidance spook investors. (00:58) Amazon (AMZN) discusses 'The Apprentice' reboot, with Don Jr. as potential host - WSJ. (02:14)

This is an abridged transcript.

Alphabet (GOOGL) (GOOG) reported strong financial growth and a quarterly beat.

The stock is up 6% in premarket action.

Total revenues in the first quarter rose 22% (19% in constant currency) to $109.9B, clearing analyst consensus for $107B and marking its 11th straight quarter of double-digit growth.

For the first quarter, capital spending more than doubled year-over-year to $35.67B—slightly less than analyst expectations compiled by Bloomberg, for $36.4B.

Those analysts expect Q2 capex to hit $42.5B.

Alphabet also announced a 5% increase to its quarterly dividend, to $0.22 per share.

Meta Platforms (META) is also a big mover this morning.

META beat on both the top and bottom lines in the first quarter.

The stock is down 8% in premarket action.

META issued lackluster forward guidance and raised its capex expectations.

META now expects to spend $125B to $145B in capital expenditures, up from the prior range of $115B to $135B.

Also weighing on shares is a continued loss in its Reality Labs business of $4.03B. The company also realized a quarter-over-quarter decline in family daily active people (DAP) attributed to internet disruptions in Iran and restricted access to WhatsApp in Russia.

Meanwhile, Microsoft (MSFT) reported fiscal third-quarter results that were above Wall Street’s forecast and Amazon (AMZN) blew past AWS estimates while AI investments dented free cash flow.

Microsoft is down 1.3% premarket and Amazon is up 1.2% ahead of market open.

We’re taking a closer look at Big Tech earnings in the Wall Street Breakfast newsletter. Here’s a link to register.

Amazon (AMZN) is said to be discussing a potential reboot of “The Apprentice,” the reality TV show that once starred Donald Trump and propelled him to national fame.

People familiar with the matter told The Wall Street Journal that executives at Amazon internally have discussed casting someone very close to President Trump as the host, his oldest son Donald Trump Jr.

Insiders told Variety that the show is currently “not in development” and there have not been “any discussions with anyone outside the company” about producing “The Apprentice” reboot.

The WSJ reported that talks surrounding the project are still in the early stages, and Amazon executives have not yet approached the Trump family about the project.

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Stock index futures are mixed as traders digested results from Magnificent 7 companies and assessed the Federal Reserve’s decision to keep rates unchanged.

Crude oil is up 1.3% at $108. Bitcoin is up 0.3% at $76,000. Gold is up 1.5% $4,615.

The FTSE 100 is up 0.7% and the DAX is down 0.3%.

The biggest movers for the day premarket: Qualcomm (QCOM) +13% - Shares surged after reporting FQ2 results that topped expectations, with adjusted EPS of $2.65 beating estimates, while revenue of $10.6B came in broadly in line despite a 3% Y/Y decline.

Economic calendar:

• 8:30 am GDP

• 8:30 am Jobless Claims

• 8:30 am Personal Income and Outlays