Google's parent company Alphabet missed market expectations due to lower ad spending, as companies cut back expenses during this economic downturn.

While Microsoft's quarterly revenue beat Wall Street forecast, it warned of a significant slowdown in its cloud computing business.

These results dragged UK tech stocks lower, taking the FTSE 100 down 0.2% this morning. Investors are also weighing results from UK stocks, including Barclays, WPP and Reckitt Benckiser.

WPP posted higher third-quarter revenue and updated its annual guidance. Barclays saw its third-quarter pretax profit and total income climbed above expectations, while Reckitt Benckiser's sales in Q3 also progressed, partly due to a favorable foreign-exchange rate.

 

Things to read today:

Intel’s self-driving unit Mobileye prices IPO above target range (Financial Times)

The U.K.'s Crisis Shows How Easy Policy Can Go Wrong (Barron's)