Yahoo Finance is tracking Amazon, Cisco and L Brands in intraday trading on Wednesday.
Trump attacks Amazon on Twitter
Trump is targeting Amazon (AMZN) once again, blasting the e-commerce giant in a tweet this morning for hurting retailers and causing job losses. The attack on Twitter pushed shares of Amazon into the red ahead of the bell.
While many traditional retailers are closing their stores and blaming Amazon for the rising popularity of buying online, the retail giant has added thousands of jobs over the past several years. According to Statista (chart below), Amazon employed 341,400 in 2016. That’s up more than 110,000 from the previous year, and nearly three times the number of workers the company employed in 2013.
It’s important to note, that this isn’t the first time Trump has attacked Amazon and it’s chief executive Jeff Bezos. He’s been very critical of both the company and its leader since late 2015.
Will federal government spending uncertainty weigh on Cisco’s sales?
The software giant is scheduled to report fiscal fourth-quarter earnings after the bell Wednesday. Analysts are expecting earnings of 61 cents a share on revenue of $12.07 billion. The big question is whether uncertainty over future federal government spending will weigh on results. Cisco (CSCO) lowered its guidance last quarter, citing questions around government spending under President Trump. Shares have fallen about 5.3% over the past three months.
L Brands set to report earnings after the bell
Wall Street’s expecting L Brands (LB) to report earnings of 44 cents a share on revenue of $2.75 billion. Shares of the parent company of Victoria’s Secret and Bath & Body Works have been under pressure since delivering weak same-store sales for June and July. The stock is down about 40% since January 1.
For more on Wednesday’s big stock movers and breaking earnings after the bell, check out The Final Round, starting at 3:55 p.m. ET, right here on Yahoo Finance.