Netflix blames its content slate, regional price increases and a "pull-forward effect" of its strong Q1 growth for the miss.Technologyread more
Netflix lost paid U.S. subscribers for the first time in eight years and fell below analyst estimates for international subscriber growth.Tech Driversread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
Morgan Stanley highlighted 20 companies including Uber and American Express that it expects earnings will drive the stock price in the near-term.Investingread more
Stocks fell for a third straight day on Thursday as Wall Street digested a mixed batch of corporate earnings results.US Marketsread more
Revenue of $10.24 billion exceeded the consensus estimate by almost $250 million.Financeread more
Treasury Secretary Steven Mnuchin says if the call goes well, he would expect in-person meetings to take place.Marketsread more
Southwest joints United and American in taking the Boeing 737 Max out of its schedules through early November with no end in sight to the federally mandated grounding of the...Airlinesread more
Jeffrey Epstein, a former friend of presidents Donald Trump and Bill Clinton, had asked a judge to release him on a bond of as high as $100 million or more.Politicsread more
The filing came a day after the judge in Michael Cohen's criminal case ordered their release, saying that the end of a probe into those payments to alleged sexual partners of...Politicsread more
Despite a disappointing earnings report, Wall Street analysts are sticking by the stock and looking ahead to the third quarter.Marketsread more
Shares of Amazon ticked lower on Wednesday despite the e-commerce giant reporting its annual Prime Day was its biggest sales event ever.
The stock fell 0.1 percent after closing at a record high in the previous session.
Amazon said more than 100 million products were sold during the event, adding it was the company's "biggest in history." However, it was not initially clear how much that represents in actual revenue.
Coresight Research had forecast Prime Day sales to hit at least $3.4 billion. Early indications of the event had been positive.
Amazon said in a press release late Tuesday that small and medium-sized businesses had sold more than $1 billion in since Monday, when the event started. A company spokeswoman also told CNBC on Tuesday morning that “Prime Day sales in the U.S. so far are bigger than ever – in fact, in the first ten hours Prime Day grew even faster, year-over-year, than the first ten hours last year. " Feedvisor also said Prime Day sales in the first 12 hours of the event rose 89 percent compared to last year’s sales event.
Separately, Piper Jaffray raised its price target on Amazon to $2,075 from $1,850 late Tuesday. The new forecast represents a 13 percent gain from Tuesday's close. Piper cited strength in Amazon's AWS business, rather than the retail unit, as reason for the increased upside over the coming 12 months.
Prime Day got off to a rough start, however, as a massive glitch redirected shoppers away from the deals to pictures of dogs.
The sales event has historically been a positive catalyst for Amazon’s stock. Amazon averages a return of 1.91 percent five days after Prime Day, outperforming the S&P 500 in that time period, according to CNBC analysis using Kensho.