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Amazon.com Inc. suffered in late trading Thursday after earnings showed higher spending than expected, but the company’s forecast suggests that it expects to continue spending rapidly in the current quarter. Amazon predicted third-quarter revenue will be in a range of $39.25 billion to $41.75 billion, after posting sales of $32.7 billion in the third quarter last year. However, Amazon said it expects operating income to be in a range from a loss of $400 million to a gain of $300 million, after posting operating income of $575 million a year ago. The profit forecast was well lower than what analysts expected, even as the sales forecast was strong: Analysts on average expected third-quarter operating income of $931 million on sales of $39.98 billion. Amazon shares were down about 3% in late trading Thursday.

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NuVasive Inc. shares fell in the extended session Thursday after the spine surgery products maker said its chief operating officer and chief financial officer were departing and reported quarterly results. NuVasive shares fell 13% to $66.75 after hours. The company said Jason Hannon, president and COO, was stepping down to pursue other interests, while CFO Quentin Blackford resigned, effective Aug. 25. The company reported second-quarter net income of $12.7 million, or 22 cents a share, compared to $30.2 million, or 57 cents a share, in the year-ago period. Adjusted earnings were 46 cents a share. Revenue rose to $260.6 million from $236.2 million in the year ago period. Analysts surveyed by FactSet had estimated 44 cents a share on revenue of $262.2 million. For the full year, NuVasive estimates adjusted earnings of $2 a share on revenue of $1.07 billion. Analysts expect $2.01 a share on $1.07 billion.

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Shares of Electronic Arts Inc. were falling 3% after hours Thursday after the company reported first-quarter earnings, but included a second-quarter forecast that disappointed. It reported net income of $644 million, or $2.06 per share, up from $440 million, or $1.40 per share, in the year-earlier period. The FactSet GAAP consensus was for earnings per share of $1.90. Net revenue was $1.45 million, up from $1.27 million in the year-earlier period. The FactSet consensus for total revenues was $1.43 million. For the second quarter, it expects net revenue of $955 million, with a net loss of $57 million and a loss per share of 18 cents. Analysts surveyed by FactSet had expected a GAAP loss per share of six cents and total revenue of $990 million. Shares of Electronic Arts have gained 25% in the past three months, outperforming the S&P 500 which has gained 4%.

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First Solar Inc. shares rallied in the extended session Thursday after the solar-panel company soundly beat Wall Street estimates for both its quarterly results and outlook. First Solar shares surged 14% to $51.26 after hours. The company reported second-quarter net income of $52 million, or 50 cents a share, versus a loss of $11.4 million, or 11 cents a share, in the year-ago period. Adjusted earnings were 64 cents a share. Revenue fell to $623.3 million from $1.02 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 4 cents a share on revenue of $571.5 million. For the full year, First Solar estimates adjusted earnings of $2 to $2.50 a share on revenue of $3 billion to $3.1 billion. Analysts had previously forecast 57 cents a share on $2.9 billion.

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Shares of Starbucks weaved in and out of the red late Thursday after the retailer reported rising global sales and adjusted fiscal third-quarter earnings above Wall Street expectations. Starbucks reported net income of $692 million, or 47 cents a share, in the quarter, compared with $754.1 million, or 51 cents a share, in the year-ago period. Adjusted for one-time items, Starbucks earned 55 cents a share, compared with 49 cents a share a year ago. Revenue rose 8% to $5.7 billion, a record for the company, from $5.2 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 55 cents a share on sales of $5.76 billion. Comparable-store sales rose 4% globally, including a rise of 5% for U.S. comparable-store sales, thanks to a 5% increase in the average ticket, the company said. In the statement accompanying results, Starbucks said it will close all 379 Teavana retail stores over the coming year, citing the stores’ underperformance and little hope of improvement. The majority of the stores will close in the spring of 2018, the company said. Starbucks announced earlier Thursday plans to buy 50% of Shanghai Starbucks Coffee Corp. that it didn’t already own from joint-venture partners. Shares ended the regular session up 2.7%.

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The Dow Jones Industrial Average closed at a record on Thursday, avoiding a technology-fueled downdraft that pummeled the broader market, as Boeing’s shares rose for a fifth straight day. Boeing’s stock added 51 points to the price-weighted, blue-chip gauge. The Dow closed up 85 points, near its highs of the session, up 0.4% at 21,796. The all-time peak for the Dow came even as technology shares pitched sharply lower–but finished off their worst levels of the session–yanking the tech-heavy Nasdaq Composite Index and the S&P 500 index, which is heavily influenced by the tech group. firmly lower. The Nasdaq closed off 40 points, or 0.6%, but was down by as much as 1.6%, before paring losses to end at 6,382. The S&P 500 index wrapped up off 0.1% at 2,475. All three main benchmarks touched all-time intraday records at the open. The downturn for the tech sector was attributed to investors selling some of their holdings following a brisk rally in the highflying tech sector , including Facebook Inc. , which reported better-than-expected results late Wednesday. For the Dow, Boeing has been a saving grace, powering its advance over past few sessions and over the past six months. Boeing’s stock overtook Goldman Sachs Group Inc. on Wednesday as the priciest component in the Dow at $241 a share, compared with $221 for Goldman. That means Boeing shares will hold the most sway over the direction of the Dow. A dollar move in any of the Dow components translates to a 6.85 point swing in the gauge. Boeing’s stock has returned 54% so far this year, representing the best year-to-date performance among the other 29 blue-chip components, with Apple Inc. the second-best performer at 29%, as of Thursday’s close.

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Time Inc. said on Thursday it has sold live events company INVNT back to the company’s founding partners. Time bought the INVNT back in 2015 with the hope that live events would help bring targeted audiences to Time’s marketing partners. The sale closed on Thursday with no terms disclosed. Selling INVNT is part of Time’s plans to condense its portfolio and focus on the core business. Shares of Time have declined 18% in the year to date, while the S&P 500 index has gained more than 10%.

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Attorney General Jeff Sessions, under fire in recent days from President Donald Trump, told the Associated Press he will serve as long as Trump desires. “I serve at the pleasure of the president,” he said. In a separate interview with Tucker Carlson of Fox News, Sessions said Trump’s criticism was “kind of hurtful.” Trump has berated Sessions publicly for not recusing himself from the investigation into possible ties between Russian officials and the Trump campaign.

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The Neiman Marcus Group is cutting and reorganizing about 225 positions, the company confirmed with MarketWatch. Employees impacted by the streamlining effort have been offered severance packages and will be considered for other jobs within the company. “To better align our operations and team with our business strategy, we regularly evaluate all aspects of our business to determine when and where changes make the most sense for our customers and our company,” a Neiman Marcus spokesperson said in a statement. Last month, Neiman Marcus confirmed that talks with Saks Fifth Avenue parent Hudson’s Bay Co. had stalled, and talks of a full or partial sale of the company had ended. The SPDR S&P Retail ETF is up 1.3% in Thursday trading, but down 6.2% for the year to date. The S&P 500 index is up 10.3% for 2017 so far.

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