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Amazon Issues Disappointing Earnings and Forecast for Holidays

Amazon issued earnings and a forecast that didn't match what investors were thinking.
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Amazon ( (AMZN) - Get Report ) issued earnings and a forecast that didn't match what investors were thinking. The stock is trading lower in the premarket. Amazon's forecast for the holiday season was slightly less than the highest expectations but the stock was priced for perfection. Business Insider is quoting internal documents saying the e-commerce company wants to open 2000 grocery stores over the next decade. Alphabet ( (GOOG) - Get Report ), parent of Google, reported strong earnings driven by mobile sales. The tech company also announced a $7 billion stock buyback. Chief Financial Officer Ruth Porat says the primary driver was strength in search and YouTube. She added that Google Cloud is also seeing substantial revenue growth. General Electric ( (GE) - Get Report ) is reportedly in talks about some kind of partnership with Baker Hughes ( (BHI) ). The Wall Street Journal originally reported the deal was a complete takeover but GE denies that. General Electric had said last week that the oil market has bottomed.

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