NewsNewsDetails
Pressure mounts after financial report release; Amazon drops 7% before trading, Intel tumbles 25%
CNBC
1h ago
Ai Focus
Amazon and Intel fell before the market opened on Friday after releasing their quarterly results for September, as the figures disappointed investors. Nasdaq futures dropped by 2%. Amazon fell 7% before the opening, while Intel fell 25%. Both Amazon's revenue and profit in the third quarter fell short of expectations, and the company maintained its forecast for $220 billion in capital expenditures for 2026. Additionally, Amazon recorded negative free cash flow for the second consecutive quarter. Investors are concerned whether such large-scale AI expenditures by tech giants will yield returns.
Helpful
No.Help

After Amazon and Intel announced their quarterly results for September, which disappointed investors, the stock prices of both companies fell before the market opened on Friday, dragging down NASDAQ futures by 2% and adding further pressure to a difficult week for tech stocks' financial report performances.

Amazon's stock price fell 7% before the market opened, while Intel's stock price dropped by 25%.

Amazon reported that both its revenue and profits in the third quarter fell short of expectations, while it maintained its capital expenditure forecast for 2026 at $220 billion. Amazon also stated that its free cash flow was negative for the second consecutive quarter, and the magnitude of the negative value was significantly greater than in the previous quarter.

Investors are concerned about the massive spending on artificial intelligence by tech giants and question whether these investments will yield returns.

On Thursday, the stock price of Alphabet fell by 13%, setting a new record for the largest single-day decline in the company's history. Prior to this, the company also reported a significantly expanded negative free cash flow.

Microsoft's stock price rose, as it still maintained positive free cash flow in the quarter ending September.

This is a report that is still developing. Please come back later for more updates.

Tip
$0
Like
1
Save
1
Views 45
CoinMeta reminds readers to view blockchain rationally, stay aware of risks, and beware of virtual token issuance and speculation. All content on this site represents market information or related viewpoints only and does not constitute any form of investment advice. If you find sensitive content, please click“Report”，and we will handle it promptly。
Submit
Comment 0
Hot
Latest
No comments yet. Be the first!
Related
Binance claims to have discovered "additional breakthrough points" in the $6.3 billion hacker attack
Binance stated that the total impact of the security incident on Thursday was approximately $6.3 billion, of which about $3 billion has been frozen on-chain. The company initially pointed to an intrusion into the laptop of an engineer with the username DevOps, but now claims that the investigation has uncovered "additional breakthrough points." Binance said it will use the SAFU fund and company funds to cover all losses, and recharges have been resumed, although withdrawals are still suspended.
Decrypt
·2026-10-30 17:53:34
13
Overnight Highlights on October 29: U.S. Stocks Close Higher, Fed to Reduce Frequency of Interest Rate Meetings; U.S.-Ukraine-Russia Talks Could Start Next Week; Mailer in Negotiations to Acquire Lumentum NVIDIA; Acquisition Subject to Inquiry
Top news from the overnight period on October 29th includes U.S. stocks closing higher, the Federal Reserve maintaining interest rates unchanged and stating it will reduce the frequency of interest rate-setting meetings, potential talks between the U.S., Ukraine, and Russia as early as next week, Marvell Technology's bid for Lumentum, and NVIDIA facing inquiries regarding its acquisitions, among others.
The Block
·2026-10-30 17:53:32
15
Reddit Stock Price Falls After Earnings Surpass Expectations
Reddit announced third-quarter revenue of $895 million and earnings per share of $1.40, both exceeding Wall Street's expectations. However, the company's fourth-quarter revenue forecast fell short of expectations, and CEO Steve Huffman mentioned a decline in traffic driven by Google searches, which raised concerns among investors. As a result, the stock price dropped to around $106.50 after the market closed.
Coinpaper
·2026-10-30 17:44:23
20
The upsurge in American chip localization may be overly optimistic: TSMC's chief scientist says there is a prominent shortage of talent, with only 17% of students entering the chip manufacturing industry
Huang Hansen, who once served as the chief scientist at TSMC and is now a professor at Stanford University, stated that among the doctoral students he has trained in the past, only 17% have gone on to work at chip manufacturing companies such as Intel, Micron, Samsung, SK Hynix, and TSMC. The majority have ended up in chip design firms, application companies, or consulting agencies. Based on this, it is believed that although the United States' efforts to bring chip manufacturing back home are supported by subsidies, tariffs, and corporate investment commitments, they still face practical obstacles such as a shortage of engineers, inadequate infrastructure, delayed approvals, and inconsistent policies.
The Block
·2026-10-30 17:44:21
15
AT and Verizon lay off 8,000 employees within a quarter; layoffs have become the norm
Verizon CEO Dan Schulman mentioned during the financial report conference call that there could be a large number of "agents" in the future, and described "agentic" as an opportunity to increase customer spending and sales. At the same time, Verizon and AT &T laid off another approximately 8,000 people in the same quarter, which is close to 4% of the total workforce. The article suggests that this round of layoffs reflects more long-term efficiency measures rather than being directly driven by "AI".
The Block
·2026-10-30 17:44:19
19
View More
Latest from Author
Refresh
arrow
CEO, who posted photos of the "_Lake America_" hoodie, is no longer in office.
CEO, who posted photos of the "_Lake America_" hoodie, is no longer in office.
09-26 23:17   415peopleViews
Apple faces a $5.7 billion patent infringement ruling due to iPhone and Apple Watch tactile technologies
Apple faces a $5.7 billion patent infringement ruling due to iPhone and Apple Watch tactile technologies
09-26 23:06   395peopleViews
Hublot claims that its collaboration with Swatch Royal Pop has broken sales records, despite the sluggish luxury watch industry and tariff pressures
Hublot claims that its collaboration with Swatch Royal Pop has broken sales records, despite the sluggish luxury watch industry and tariff pressures
09-26 22:56   449peopleViews
Recommended