BUZZ-U.S. Stocks on the Move-Amazon, Visa, Brightcove, airline stocks
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for more market insights, including options activity, ; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Disappointing earnings from Amazon and Visa dragged U.S. stocks lower on Friday in a broad selloff led by consumer discretionary shares. The Dow Jones industrial average was down 0.87 percent at 16,935.91, the S&P 500 was down 0.56 percent at 1,976.84 and the Nasdaq Composite was down 0.60 pct at 4,445.49.
** AMAZON.COM INC, $322.3899, -10.10 pct
** SYNAPTICS INC, $74.56, -6.99 pct
The world's largest online retailer posted a much larger-than-expected second-quarter loss as it continues its rapid pace of investment in new businesses such as digital content and consumer electronics.
Amazon's heavy investment in content and technology to fight off deep-pocketed rivals is proving to be more costly than many had expected, raising fears that operating earnings will remain under pressure indefinitely.
Shares of Synaptics, which provides chips for Amazon's new Fire smartphone, also fell on the news.
** VISA INC, $213.9, -3.97 pct
** MASTERCARD INC, $75.82, -2.26 pct Continued...