Amazon.com stock skidded 10% in after-hours trading Thursday after the e-commerce leader posted a much-bigger-than-expected Q2 loss, as the company continues to spend heavily for growth. Q2 revenue jumped 23% from the year-earlier quarter and met views, but the company forecast rising losses for the current quarter that also missed Wall Street views. For Q2, Amazon (AMZN) reported a per-share loss of 27 cents, compared with a 2-cent loss in the
Big-cap biotechs Celgene and Alexion Pharmaceuticals modestly beat Q2 estimates and raised their guidance early Thursday, but their shares tumbled as Wall Street seemed to turn against the sector. Celgene’s (CELG) Q2 earnings rose 18% over the year-earlier quarter to 90 cents a share, beating consensus by a penny. Sales increased 17% to $1.87 billion, about $20 million above estimates. The company added $100 million to its full-year revenue
TripAdvisor got tripped up by big marketing costs, posting Q2 EPS late Wednesday that fell far short of Wall Street expectations, sending the stock falling. The company’s revenue beat expectations, but TripAdvisor (TRIP) stock was down 11.5% in after-hours trading on the earnings miss. TripAdvisor’s Q2 selling and marketing costs, which include stepped up spending on TV ads in the U.S., France and Australia, surged 53% from the year-earlier