HomeFinance NewsFinanceAmazon's Market Dominance Shattered? Truth Behind Plummeting Stock

Amazon’s Market Dominance Shattered? Truth Behind Plummeting Stock


Stocks making the biggest moves after hours: Amazon, Starbucks, Pinterest, Advanced Micro Devices and more


Amazon reported impressive first-quarter earnings, beating expectations on both revenue and profits.

Its advertising and cloud computing businesses performed exceptionally well.

However, the company’s forecast for the second quarter fell short of analysts’ estimates.

Starbucks, on the other hand, disappointed investors with its financial results.

The coffee giant missed both revenue and earnings estimates, largely due to a decline in customers amid the pandemic.

As a result, its stock price tumbled in extended trading.

Advanced Micro Devices (AMD) also faced challenges, reporting a significant drop in gaming revenue.

However, its overall revenue slightly surpassed analysts’ expectations, and its forecast for the current quarter met market estimates.

Pinterest, however, had a positive earnings report, beating expectations on both revenue and earnings.

Its growth accelerated in the first quarter, leading to a surge in its stock price.

Super Micro Computer missed revenue expectations but reported stronger-than-expected earnings.

Despite providing promising guidance for the fourth quarter, its stock price dropped due to the revenue shortfall.

Caesars Entertainment’s first-quarter results were disappointing, leading to a decline in its stock price.

The casino operator reported a wider-than-expected loss and lower-than-estimated revenue.

Mondelez International also saw a slight dip in its stock price, despite reporting better-than-expected first-quarter results.

The snack company attributed this to the anticipated impact of currency translations on its future revenue growth.

Diamondback Energy exceeded analysts’ estimates for earnings, while also reporting revenue that beat expectations.

However, its stock price fell slightly in after-hours trading.

Clorox, the consumer goods giant, reported revenue below expectations in its fiscal third quarter, leading to a decline in its stock price.

  • Overall sentiment: neutral
  • Positive

    “Amazon — Shares gained nearly 2% after the company beat on both top and bottom lines.”

    “Pinterest — Shares surged nearly 19% following an earnings and revenue beat in the first quarter.”


    “Starbucks — Shares slipped almost 10% in extended trading after the coffee chain missed fiscal second-quarter estimates on the top and bottom line.”

    “Super Micro Computer — Shares dropped nearly 8% after Super Micro Computer posted fiscal third-quarter revenue of $3.85 billion, missing the $3.95 billion consensus estimate, according to LSEG.”

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