On this episode of Stock Movers:
- Amazon (AMZN) shares are down in extended trading as the company gave a weaker-than-expected forecast for operating profit in the current quarter, pointing toward a long list of factors including tariffs and trade that may cause consumers to pull back on spending. The world’s largest online retailer projected operating profit of $13 billion to $17.5 billion, compared with an average estimate of $17.8 billion. Sales will be $159 billion to $164 billion in the period ending in June, the company said Thursday in a statement. Analysts, on average, expected $161.4 billion.
- Apple (APPL) shares are down in extended trading as sales from China declined more than anticipated in the latest quarter, overshadowing otherwise solid results for the iPhone maker. Revenue from the country fell 2.3% to $16 billion in the fiscal second quarter, which ended March 29, the company said in a statement Thursday. Analysts had estimated $16.83 billion. Overall sales gained 5% to $95.4 billion, ahead of the $94.6 billion average estimate. Apple had projected percentage growth in the low- to mid-single digits.
- Delta Air Lines (DAL) shares have small gains in after hours trading. The airline says that the head of its Endeavor Air regional carrier will step down, but remain with the parent company. Jim Graham’s departure as Endeavor chief executive officer is part of a plan that’s been in the works almost a year, he said in a Thursday memo to the airline’s executives and directors seen by Bloomberg News. Graham retains his role as a senior vice president with the Delta Connection regional operation, Delta said in an email.
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