Amazon.com Inc. (AMZN - Get Report) was the talk of Wall Street Friday morning after the online retailer reported second quarter earnings that missed analysts' expectations by over a dollar. Jeff Bezos' company reported earnings of 40 cents per share, well short of analysts' $1.42 per share expectations. In early afternoon trading, Amazon shares were down 2.49% to $1,019.70.
Shares of Tesla Inc. (TSLA - Get Report) were up slightly in early trading as the company begins deliveries of its Model 3 cars today. The vehicle is the cheapest model Tesla manufactures with a $35,000 starting price tag. Tesla shares were up 0.7% to $336.79.
Shares of Starbucks Corp. (SBUX - Get Report) were getting pummeled early following the company's earnings release after the closing bell Thursday. The coffee shop operator reported third-quarter earnings of 55 cents a share on revenue of $5.67 billion, compared to Wall Street's estimates for earnings of 55 cents a share on revenue of $5.76 billion. That miss sent the stock tumbling 8.6% to $54.37 per share.
Outgoing General Electric Corp. (GE - Get Report) CEO Jeffrey Immelt, 61, is reportedly in the running for the vacant top job at Uber Technologies Inc. There are fewer than six names on the company's short list, human resources told employees, according to Bloomberg. Former CEO Travis Kalanick left the company last month. GE shares were lower 1.2%.
U.S. Steel Corp. X shares were down 7.93% to $23.01 in afternoon trading after analysts at Citi downgraded the stock to "sell" from "neutral" while also lowering its price target to $20 from $26.
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