Alphabet's Stock Split Is Coming, but Another Tech Giant Is Soaring Tuesday

The stock market has gone through a tough few days, and although it appeared Tuesday morning that investors might not have to face another big plunge going into the trading day on Wall Street, there wasn't much sign of an impending recovery. The Federal Reserve begins a two-day meeting on monetary policy today, and there's a lot of uncertainty about whether the central bank will stick to its previous plan or accelerate its schedule of interest rate increases. As of 8 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) had risen just 24 points to 30,551. S&P 500 (SNPINDEX: ^GSPC) futures had gained 8 points to 3,758, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had picked up 45 points to 11,342.

There has been a lot of hype lately about stock splits, with some of the biggest technology stocks in the world having announced them recently. Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) is in line to join those companies doing splits, with the internet search giant making its move about a month from now. However, in the meantime, investors are focusing on company fundamentals, and it was another tech stock -- Oracle (NYSE: ORCL) -- that powered higher on favorable financial results Tuesday morning.

Alphabet shareholders approved the 20-for-1 stock split at the annual shareholder meeting on June 1. The split will take the stock price, which is currently above $2,100 per share, and bring it down to just a bit above $100 per share.

Source Fool.com