"Tech Giants Microsoft and Alphabet Lead Stock Market Movers"

Alphabet's stock rose over 6% after beating Wall Street's Q2 earnings expectations and announcing a new role for its CFO; Microsoft's stock dropped about 4% despite beating estimates, as it reported slowing revenue growth in its cloud business and provided lower-than-expected guidance; PacWest's shares surged more than 28% after news of its acquisition by Banc of California to form a new firm called Pacific Western; Snap's stock plummeted over 18% due to weak guidance for the current quarter, despite surpassing Q2 expectations; Coca-Cola's shares climbed over 2% after reporting quarterly earnings and revenue that exceeded estimates and raising its full-year outlook.