Why Alphabet Shares Are Trading Higher; Here Are 20 Stocks Moving Premarket
Alphabet Inc. Financial Results: Alphabet Inc. reported second-quarter revenue of $96.43 billion and earnings of $2.31 per share, exceeding analyst expectations, leading to a 3% rise in its stock price during pre-market trading.
Stock Movements: Various stocks experienced significant changes in pre-market trading, with notable gainers including Garden Stage Limited and American Eagle Outfitters, while losers included Sadot Group Inc. and Tesla Inc., which reported disappointing financial results.
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Trinity Street Fully Exits Axalta Stake in $22.1 Million Transaction
- Full Exit: Trinity Street Asset Management LLP disclosed on January 22, 2026, that it liquidated its entire holding of 770,919 shares in Axalta Coating Systems, with an estimated transaction value of $22.06 million, indicating a lack of confidence in the company's growth prospects.
- Asset Allocation Shift: This transaction reduced Axalta's representation to 0% of Trinity's 13F AUM, while its top five holdings include Taiwan Semiconductor valued at $293.8 million, or 18.5% of AUM, reflecting a preference for companies with better growth potential.
- Poor Market Performance: As of January 21, 2026, Axalta's share price stood at $33.47, down 9.5% over the past year, significantly underperforming the S&P 500 by 23.2 percentage points, highlighting sluggish growth in the coatings sector.
- Investor Strategy: Trinity sold a small position representing about 1.5% of its assets in Q3, possibly for tax-loss harvesting or due to diminished confidence in Axalta's growth, while simultaneously increasing investments in other major holdings like Taiwan Semiconductor, indicating a shift towards companies with higher growth potential.
Unusual Volume Noted for SPWO ETF on Friday
ETF Performance: The SP Funds S&P World ex-US ETF saw significant trading activity on Friday, with Infosys rising approximately 6.3% and Wipro increasing about 7.2%.
Trading Volume: Infosys had over 80.4 million shares traded, while Wipro had over 26.6 million shares changing hands during the session.
Icon's Performance: In contrast, Icon was underperforming compared to other ETF components, trading down by about 1.3%.
Author's Disclaimer: The opinions expressed in the article are those of the author and do not necessarily represent the views of Nasdaq, Inc.
