Amazon and Alphabet Stocks Gained Value

Stocks of Amazon and Alphabet gained value on the US stock market yesterday. Spotify share, on the other hand, depreciated.

Earnings reports of the US e-commerce giant Amazon and the parent company of Google Alphabet, was above expectations, reflected the gains in the shares of the two companies. The performance of Amazon, Alphabet and some other key stocks yesterday were as follows: Amazon (NASDAQ: AMZN) gained 2.5 percent. Amazon’s founder and CEO Jeff Bezos announced that he will be leaving. Bezos will leave his post in the third quarter of this year, Andy Jassy will be replacing him. The company's quarterly earnings were $ 100 billion. Alphabet (NASDAQ: GOOGL) gained 7.7 percent. The company's quarterly results exceeded expectations for key advertising and cloud business. Chipotle (NYSE: CMG) fell 2.8 percent. The company failed to meet expectations in its quarterly profit due to the extra costs incurred to protect its business during the epidemic. Amgen (NASDAQ: AMGN) lost 2.5 percent. Even though the biotech company shared a better-than-expected quarterly profit, the 2021 earnings guidance prospects failed. Electronic Arts (NASDAQ: EA) fell 3.8 percent. Although it increased its annual sales target, profit forecasts for the current quarter were not on point. Spotify (NYSE: SPOT) fell 7 percent. The broadcast giant, which offers a conservative outlook for the current year, reported 155 million paid subscribers for its Premium services. Sony (NYSE: SNE) ADR gained 6.9 percent. With the effect of the coronavirus epidemic increasing demand for games, movies and other content, it increased its profit outlook by a third for the whole year. Biogen (NASDAQ: BIIB) fell 3.9 percent. The company reported that its profit for the last quarter was below expectations. It has been announced that the income has decreased due to R&D expenditures. GlaxoSmithKline (NYSE: GSK) ADR fell 4.5 percent. The pharmaceutical company predicted that 2021 profits would decline and announced that its split plan was in effect. Kraft Heinz (NASDAQ: KHC) gained 0.3 percent. The Wall Street Journal reported that negotiations were held with the food giant Hormel Foods (NYSE: HRL) for the sale of Planters arm for $ 3 billion. Match Group (NASDAQ: MTCH) fell 4.6 percent. The online dating company kept its growth forecast for 2021 weak, pointing to the dire impact of the epidemic on dating.       Source: Investing.com