This is what the market did not need today. Strong Tech Leaders taking heat after the market close on earning reports.
Investors are worried about the weak profit outlook and the increased pace of spending.
#GOOGL – Alphabet delivered mixed third quarter financial results on Thursday, topping profit estimates but missing on revenue.
The company is paying more to partners that distribute its search engine, while charging less for each ad that it runs — a combination that’s putting a damper on revenue growth
#AMZN – Amazon reported Thursday that its profit in the recently-ended quarter rocketed to $2.9 billion in a ten-fold increase from the same period last year. Analysts had expected an even stronger performance by Amazon, prompting shares to sink 6.1 percent to $1,673 in after market trades that followed release of the earnings figures.