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Amazon (AMZN) Stock Tumbles as Second-Quarter Loss Widens

TheStreet

Shares of Amazon tumbled on Friday making it TheStreet's Move of the Day. The online retail giant took a hit from investors after reporting second-quarter earnings on Thursday night that revealed growth slowing, which led to a loss of 27 cents a share easily missing estimates for a 15 cent per share loss. Bank of America Merrill Lynch analyst Justin Pope said in a research note: "The 3Q outlook was disappointing and with growth not accelerating Amazon could become a show-me stock," adding, "We are lowering our price outlook to $400 from $420 based 1.7x 2015 sales estimate due to a lower medium-term margin profile."