Free Trial

Amazon Set to Wipe Out $100bln in Market Cap at the Open

EQUITIES

The notable downtick in Amazon shares ahead of the open today likely to garner some focus. AMZN reported earnings after-market yday and are lower by over 6% pre-market (their German listing is off 6.5%), set to wipe off over $100bln in market cap at the open. Amazon reported a miss on quarterly sales for the first time in over three years.

  • AMZN sees both net sales and operating income for Q3 considerably lower than market expectations, with expectations of a shift back to hospitality and brick & mortar outlets the main driver.
  • Online retailers across Europe are lower in sympathy, with ASOS, Zalando both sharply lower.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.