Yahoo Finance Trending tickers: Amazon | Natwest | Intel | Alphabet
Amazon (AMZN)
The week so far for Amazon has been one of losses, with its stock cratering on Wednesday as investors were spooked by an apparent slowdown in cloud computing — a key part of its business.
But Friday could see a reversal of its fortunes, as a late earnings report on Thursday revealed its revenues were up 13% on last year, beating analysts estimates. Amazon reported $143.1bn revenue for the quarter ending in September.
Its quarterly profits were $9.9bn, also ahead of estimates, while it touted artificial intelligence (AI) as the future of its business.
Sales for AWS were up 12% on the quarter, to $23.1bn. Its advertising revenue also hit $12.1bn, a 26% increase on last year, when advertisers were still exercising caution in the wake of the pandemic.
As of 10.40am in London, Amazon looked set to open more than 6% higher when markets open later on in the US.
Natwest (NWG.L)
Natwest stock lost more than 10% of its value on Friday, after results of an independent probe was published by the bank on its handling of the Nigel Farage and Coutts scandal.
NatWest group chairman Sir Howard Davies said the investigation carried out by law firm Travers Smith had revealed "serious failings" in the way it had handled the politician's debanking.
"Although Travers Smith confirm the lawful basis for the exit decision, the findings set out clear shortcomings in how it was reached as well as failures in how we communicated with him and in relation to client confidentiality," he added. "We apologise once again to Mr Farage for how he has been treated."
The investigation is being continued by both Natwest and the UK's financial regulator, with more detail to come.
Read more: British Airways owner stock falls, despite posting record Q3 profit
"In recent weeks, we have confirmed to both firms that we are now reviewing how the firms’ governance, systems and controls are working to identify and address any significant shortcomings," the UK's Financial Conduct Authority said on Friday.
"This supervisory work will include use of our statutory information gathering powers, interviews with relevant bank staff and reviews of appropriate policies or procedures."
Intel (INTC)
Intel reported its third-quarter earnings after the bell on Thursday, which beat analysts' expectations on the top and bottom lines and provided Q4 guidance implying revenue growth for the first time since 2020.
Shares of the chipmaker jumped almost 8% in pre-market trading following the report.
“We delivered a standout third quarter, underscored by across-the-board progress on our process and product roadmaps, agreements with new foundry customers, and momentum as we bring AI everywhere,” Intel CEO Pat Gelsinger said in a statement.
“We continue to make meaningful progress on our IDM 2.0 transformation by relentlessly advancing our strategy, rebuilding our execution engine and delivering on our commitments to our customers.”
Intel's Q3 revenue came in at $14.1bn with adjusted earnings per share (EPS) of $0.41. Analysts were expecting revenue of $13.5bn and adjusted EPS of $0.31.
Inte's stock has been on the steady decline since mid-October.
Alphabet (GOOG)
Alphabet, Google's parent company, has seen its stock sink more than 10% this week so far, despite posting earnings which outstripped analyst's expectation on both its top and bottom lines.
Weaker-than-expected results from its cloud division and a narrower operating margin than analysts had forecast were to blame for this, as its fate went the same way as other tech giants this week.
Premarket trading figures show its stock is set to rise modestly at the open, sealing off a punishing week.
Watch: Amazon cloud sales stabilizing, but shoppers wary
