Shares of technology companies experienced a slight decline as investors grew anxious about earnings. However, there were a few standouts that defied this trend.
Amazon.com Soars with Impressive Sales Growth
Amazon.com outperformed expectations, reporting robust sales growth that exceeded Wall Street targets. The online megastore saw a surge in its stock price after hours, indicating strong investor confidence.
Apple Recovers from Losses
Following a temporary setback, shares of Apple managed to make a recovery. On the other hand, Expedia, the online travel agency, faced a significant decline in its stock value as its second-quarter revenue growth fell short of expectations.
Slowdown in Domestic Travel
Earnings reports from travel companies have highlighted a clear picture of the current state of domestic travel. As Americans emerge from the pandemic, they are opting for overseas travel or "staycations" rather than exploring their own country.
Ivanti Discovers Vulnerabilities in Software
In a recent report by The Wall Street Journal, it was revealed that technology company Ivanti discovered two serious vulnerabilities in the same software within a short period. Although they eventually released a patch for the second bug, the process took several days as they analyzed the issue.
Nintendo's Profit Rises with Blockbuster Releases
Nintendo announced a rise in net profit for the fiscal first quarter. This success can be attributed to the popularity of their latest game from "The Legend of Zelda" series and the success of their Super Mario film.