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Amazon.com Inc. bulls beware, because the 5.1% after-hours tumble in the stock, after the e-commerce giant missed earnings expectations, may have marked the end of an 8 1/2-month long uptrend. The stock had closed Thursday at $818.36, right at an uptrend line that started at the Feb. 9 closing low, and also connected the closing lows in mid-September and last week. The break of an uptrend line suggests a new downtrend may be starting. The stock was trading around $777 after the close, which would also put it below its 50-day moving average, which extended to $799.05. The last time the stock closed below the 50-day MA, which many chart watchers use to track the short-term trend, was March 21. The stock had run up 70% while above the uptrend line through Thursday, and 46% while it has been above its 50-day MA. In comparison, the S&P 500 has climbed 15% since Feb. 9.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

McKesson Corp. shares dropped in the extended session Thursday after the healthcare services company’s quarterly results and forecast fell short of Wall Street estimates. McKesson shares dropped 7.8% to $148 after hours. The company reported adjusted fiscal second-quarter earnings of $2.94 a share on revenue of $50 billion. Analysts surveyed by FactSet had forecast earnings of $3.04 a share on revenue of $51.2 billion. For the year, McKesson said it expects adjusted earnings of $12.35 to $12.85 a share, while analysts forecast earnings of $13.56 a share.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of Amgen Inc. fell 1.3% in after-hours trade Thursday, after the biotechnology company beat third-quarter earnings expectations and raised its profit outlook, but kept its sales outlook virtually unchanged. Earnings for the quarter ended Sept. 30 rose to $2.01 billion, or $2.68 a share, from $1.86 billion, or $2.44 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $3.02, above the FactSet consensus of $2.79. Revenue rose 2% to $5.81 billion from $5.72 billion, beating the FactSet consensus of $5.73 billion, although sales of its top two selling drugs–Enbrel and Neulasta–fell shy of estimates. For 2016, Amgen boosted its adjusted EPS outlook to $11.40 to $11.55 from $11.10 to $11.40, compared with the FactSet consensus of $11.36. The revenue outlook was revised slightly to $22.6 billion to $22.8 billion from $22.5 billion to $22.8 billion; the FactSet consensus is $22.8 billion. The stock had slipped 1.1% year to date through Thursday’s close, while the SPDR S&P Biotech ETF tumbled 19% and the S&P 500 gained 4.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of Expedia Inc. fell in Thursday’s extended session after the online travel company posted weaker-than-expected earnings. Expedia reported its third-quarter earnings slipped to $279.3 million, or $1.81 a share, from $283.2 million, or $2.12 a share, a year earlier. On an adjusted basis, the company would have earned $2.41 a share. Revenue rose 33% to $2.58 billion while gross bookings grew 21% to $18.59 billion. Analysts surveyed by FactSet had forecast earnings of $2.47 a share on revenue of $2.54 billion. Expedia shares dropped more than 2% after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Alphabet Inc. gained slightly in late trading Thursday after the web giant reported better-than expected earnings and revenue. Google’s parent company reported net income of $5.06 billion, or $7.25 a share on revenue of $22.45 billion. After adjustments for stock-based compensation and other effects, the company said profit was $9.06 a share, and revenue without traffic-acquisition costs was $18.27 billion. Analysts on average expected Alphabet to report adjusted profit of $8.62 cents a share with ex-TAC revenue of $18 billion. Alphabet shares initially jumped about 2.5% after the report hit, but then retreated to a smaller gain of less than 1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of Amazon.com Inc. fell more than 5% late Thursday after the e-commerce giant reported earnings below analyst expectations and sales that were merely in line with forecasts. Amazon.com said it earned $252 million in the third quarter, or 52 cents a share, compared with $79 million, or 17 cents a share, in the third quarter of 2015. Sales rose 29% to $32.7 billion, compared with $25.4 billion a year ago, the company said. Analysts polled by FactSet had expected the e-commerce giant to report earnings of 77 cents a share on sales of $32.69 billion. Shares of Amazon.com had ended the regular trading session down 0.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News