Business
Amazon falls on slowing cloud growth. How the pros are playing it
Market Movers rounded up the best reactions from investors and analysts on Amazon ‘s earnings report, which beat estimates on the top and bottom lines. The experts, including Jim Cramer , discussed the megacap tech giant’s outlook in the wake of the first-quarter report on Thursday. Shares of the stock rallied initially in Thursday’s extended session, but then reversed course. By Friday’s close, the stock lost 4% as investors reacted to Amazon’s expectation that Amazon Web Services cloud growth will slow. Amazon is currently held in Cramer’s Charitable Trust portfolio.
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