Amazon (AMZN) Stock Tumbles as Second-Quarter Loss Widens
Shares of Amazon tumbled on Friday making it TheStreet's Move of the Day.
Shares of Amazon tumbled on Friday making it TheStreet's Move of the Day. The online retail giant took a hit from investors after reporting second-quarter earnings on Thursday night that revealed growth slowing, which led to a loss of 27 cents a share easily missing estimates for a 15 cent per share loss. Bank of America Merrill Lynch analyst Justin Pope said in a research note: "The 3Q outlook was disappointing and with growth not accelerating Amazon could become a show-me stock," adding, "We are lowering our price outlook to $400 from $420 based 1.7x 2015 sales estimate due to a lower medium-term margin profile."