# Alphabet Plunges, Microsoft Set to Raise Bond Sale, Chipotle Gains

An episode of [Stock Movers](https://invisiblenetwork.ai/podcast/1803209456), 29 Oct 2026, 5:01.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/deb345cd-6d73-4a24-a6e3-b2a50138dd86/25953666-c988-4c22-ae80-b4f20139cb82/audio.mp3?utm_source=Podcast&in_playlist=a55c6f22-aa32-4a58-aebd-b2a50138e2b2

Today's biggest winners and losers in the stock market, a look at the notable movers: On this episode of Stock Movers: - Alphabet (GOOGL)’s shares fell more than 13%, erasing more than $500 billion in its biggest-ever market plunge, after the company reported disappointing search and advertising sales that reinforced investor concerns about AI’s threat to its core business. The results and share reaction “show us the margin for error when a hyperscaler spending hundreds of billions on the AI infrastructure buildout” posts disappointing results in its core business, JPMorgan analysts including Doug Anmuth said in a note. - Microsoft (MSFT) drew demand for its $25 billion bond offering, with $115 billion of orders at its peak, or 4.6 times the offering’s size. The transaction is one of the most sought-after US corporate bond sales on record, with the debt launched in as many as 10 tranches, with maturities ranging from two to 40 years. The sale is a test of appetite for financing AI investments, with Microsoft standing out among its Big Tech peers in having not tapped the market in years and having top-tier AAA ratings from Moody’s Ratings and S&P Global Ratings. Microsoft shares fell amid a broader tech selloff. - Share of Chipotle Mexican Grill (CMG) are gaining as trader react to sales rising faster than expected in the third quarter due to more frequent menu launches and revamped loyalty offers. Same-store sales climbed 2.1% in the period, and the company's third-quarter revenue rose nearly 10% to $3.3 billion. Chipotle expects to close out the year with 2% higher prices and anticipates inflation of around 3% in the current quarter and elevated levels next year. See omnystudio.com/listener for privacy information.

## Transcript

[0:02] Speaker 1: Bloomberg Audio Studios. Podcasts.
[0:05] Speaker 2: Radio.
[0:06] Speaker 1: News. The Stock Movers Report. Your roundup of companies making
[0:12] Speaker 1: moves in the stock market. Harnessing the power of Bloomberg data.
[0:16] Speaker 2: Let's get to some stocks on the move. And obviously,
[0:19] Speaker 2: big tech. front and center. And that means we're going
[0:22] Speaker 2: to start with Alphabet. This stock down the most ever. Ticker,
[0:26] Speaker 2: of course, G-O-O-G-L. Alphabet saying demand for its cloud services
[0:32] Speaker 2: is increasing at a rapid clip, pointing to growth in
[0:35] Speaker 2: its backlog or cloud contracts it hasn't yet fulfilled.
[0:38] Speaker 3: Yeah, the company's quarterly filing lists about $ 98. 5 billion in
[0:41] Speaker 3: contingent commitments. The company could be on the hook for,
[0:45] Speaker 3: under certain conditions, including guaranteeing data center lease payments, also
[0:48] Speaker 3: backing partners' purchases of power equipment. A lot of sort
[0:52] Speaker 3: of stories about this company as our reporters read through
[0:57] Speaker 3: the filings. But the knee-jerk reaction, at least in today's trade,
[1:02] Speaker 3: over the concerns about the search business being cannibalized by AI,
[1:06] Speaker 3: that is really what has investors' reaction today.
[1:08] Speaker 2: Yeah, absolutely. Keeping an eye on it. All right. So
[1:11] Speaker 2: that is Alphabet. We're going to move on over to Microsoft.
[1:14] Speaker 2: Ticker is MSFT. And we just saw that Microsoft drew
[1:18] Speaker 2: demand for its $ 25 billion bond offering with $ 115 billion
[1:20] Speaker 2: of orders.
[1:24] Speaker 1: Wow. Wow.
[1:46] Speaker 2: Yeah.
[1:47] Speaker 3: Seven or eight calls, phone calls, they get this deal tossed.
[1:50] Speaker 2: Yeah.
[1:51] Speaker 3: Everybody's saying yes.
[1:52] Speaker 2: Right.
[1:52] Speaker 3: I mean, think about it from the perspective of the
[1:56] Speaker 3: health of Microsoft as a company and the company's balance sheet.
[2:00] Speaker 2: Correct.
[2:00] Speaker 3: So this is a company that has, let's just say,
[2:04] Speaker 3: a credit rating akin or higher than the U.S.
[2:06] Speaker 1: Government.
[2:07] Speaker 2: I mean, as you said, the transaction, one of the
[2:08] Speaker 2: most sought-after U.S. corporate bond sales on record, with the
[2:11] Speaker 2: debt launched in as many as 10 tranches, with maturities
[2:15] Speaker 2: ranging from 2 to 40 years. Keep in mind, this is.
[2:18] Speaker 3: Top-tier AAA rating from Moody's S & P.
[2:21] Speaker 2: And what's fascinating, and I'm just looking at some of
[2:24] Speaker 2: the write-through on the Bloomberg. I mean, we have not
[2:27] Speaker 2: seen Microsoft do this in some time. Microsoft really standing
[2:33] Speaker 2: out among its big tech peers in having not tapped
[2:35] Speaker 2: the market in years. It last sold high-grade debt back
[2:38] Speaker 2: in 2017, raising $ 17 billion. It's also the only publicly
[2:43] Speaker 2: traded U.S. firm besides Johnson & Johnson with top-tier AAA
[2:47] Speaker 2: ratings for Moody's and S & P Global ratings. And
[2:50] Speaker 2: we should point out, it comes after the company reported
[2:53] Speaker 2: robust results for its fiscal first quarter on Wednesday, posted
[2:57] Speaker 2: a 48% gain in cloud revenue while keeping its capital
[3:00] Speaker 2: expenditures in check. So really soothing investors who have been
[3:04] Speaker 2: concerned about lavish spending on AI. So there you have it.
[3:10] Speaker 2: Microsoft MSFT. Okay.
[3:11] Speaker 3: Let's have a burrito.
[3:13] Speaker 2: Let's do that. Okay.
[3:14] Speaker 3: Chipotle. CMG is the ticker. Shares are up 9.4%. Sales
[3:20] Speaker 3: beat as a new chicken and chips are bringing diners back.
[3:23] Speaker 3: Sales rose faster than expected in the third quarter due
[3:26] Speaker 3: to more frequent menu launches and revamped loyalty offers. Same
[3:29] Speaker 3: store sales climbing 2.1%. The company's third quarter revenue rose
[3:33] Speaker 3: nearly 10% to $ 3. 3 billion. Chipotle expecting to close out
[3:37] Speaker 3: the year with 2% higher prices. The company also anticipates
[3:40] Speaker 3: inflation around 3% in the current quarter and elevated levels
[3:44] Speaker 3: next year.
[3:45] Speaker 2: They said inflation for beef and freight, as well as
[3:47] Speaker 2: higher protein usage, partially offsetting higher prices and tariff relief.
[3:51] Speaker 2: Labor expenses also rose due to higher wages, additional staffing
[3:55] Speaker 2: in restaurants, and increased insurance costs cutting into Chipotle's profits.
[3:59] Speaker 2: But I think as you said this, maintaining its full
[4:01] Speaker 2: year guidance for comp Restaurant sales, comparable. Restaurant sales growth
[4:06] Speaker 2: in the low single-digit range. I mean, they've been going
[4:08] Speaker 2: through some stuff.
[4:08] Speaker 1: Yeah, choppy.
[4:10] Speaker 3: October sales have been choppy, too, according to the company.
[4:13] Speaker 3: Mesquite-smoked brisket? What do you think?
[4:16] Speaker 1: It's amazing.
[4:17] Speaker 2: I'll go for it.
[4:18] Speaker 3: You'll go for it?
[4:18] Speaker 2: Does that work? I love me some brisket.
[4:20] Speaker 3: Does that work in a burrito bowl?
[4:21] Speaker 2: I don't know. I don't know.
[4:22] Speaker 3: I guess it does.
[4:23] Speaker 2: I love me some brisket. Hey, shares of Chipotle, though,
[4:25] Speaker 2: they are down 15% year-to-date, but they are getting a
[4:29] Speaker 2: pop again, ticker CMG, and the stock up 9.3% in
[4:33] Speaker 2: today's session, so quite a move.
[4:36] Speaker 1: The Stock Movers Report from Bloomberg Radio. Check back with
[4:40] Speaker 1: us throughout the day for the latest roundup of companies
[4:43] Speaker 1: making news on Wall Street. And for the latest market-moving headlines,
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