Samsung Slashes Profit Forecast on the Galaxy Note 7 Crisis

Smartphone maker Samsung has cut its profit forecast by 33%. It puts the blame squarely on its crisis with the Galaxy Note 7. The phone's batteries have been catching fire. Samsung now says its profit from July to September will be $4.6 billion. Cybersecurity company Fortinet (FTNT) - Get Report  is plummeting after hours after cutting its guidance. Its shares have fallen as much as 13%. The company blames lengthening deal cycles as it says its customers are buying with less urgency than last year. Amazon's (AMZN) - Get Report  full on-demand music streaming service launches today. The company is relaunching its primate music service as Amazon Music Unlimited. The new service will compete with Spotify, Apple Music and Google Play Music. The service is designed to work with the Echo speaker and will cost $7.99 a month for prime members.

This article was written by a staff member of TheStreet.