Editorial companion

What stands out

Alphabet raised its capital expenditure (capex) guidance and the stock fell, Tesla slid after mixed earnings, and ServiceNow lifted subscription guidance. Schwab Network's quick roundup matters because it shows where investors are willing to accept short-term pain for longer-term bets. Alphabet's capex bump points to heavy spending on AI infrastructure, a strategic choice markets often punish in the near-term. ServiceNow's subscription lift shows durable enterprise demand, while Tesla's mixed print and shrinking profits are a reminder that growth can be a costly mirage.