After Hours Stock Movers: Facebook IPO Confirmed, Amazon Drops 9% as Revenues Miss
Amazon.com Inc. (NASDAQ:AMZN) shares dropped more than 9 percent after announcing fourth quarter results. Net earnings declined to $177 million (38 cents per share), compared to $416 million (91 cents per share) in the previous year. Revenue came in at $17.43 billion, short of the $18.2 billion estimate. Shares of Apple Inc. (NASDAQ:AAPL) edged only .20 percent lower in late trading.
Shares of Seagate Technology PLC (NASDAQ:STX) popped .52 percent in late trading. The company reported a fiscal second quarter profit of $563 million ($1.28 per share), compared to $150 million (31 cents per share) in the prior year.
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Morgan Stanley (NYSE:MS) shares received a small Facebook lift as the bank has been named the official underwriter of Facebook’s Wednesday IPO. Other banks such as Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), Barclays Capital (NYSE:BCS) and JP Morgan (NYSE:JPM) will also participate in the underwriting process.
Aflac (NYSE:AFL) shares declined almost 2 percent in late Tuesday trading. The insurance giant reported a 25 percent surge in net income for the fourth quarter, but said its Japan sales are likely to decrease 2 percent to 5 percent this year. Shares of Prudential Financial Inc. (NYSE:PRU) and MetLife, Inc. (NYSE:MET) also closed lower.
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Broadcom Corp. (NASDAQ:BRCM) shares jumped 2.3 percent after reporting better-than-expected results for the fourth quarter. The company also raised its dividend from 9 cents to 10 cents. Net earnings came in at 68 cents per share, above the 65 cents per share estimate.
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