Amazon.com, Inc. AMZN shares are trading lower by 2.87% to $122.66 Friday morning amid overall market weakness following bearish economic comments form FedEx Corp FDX. An economic slowdown could weigh on consumer spending and impact e-commerce stocks.
What Happened?
FedEx issued preliminary results. The company said it now expects first-quarter revenue of approximately $23.2 billion and first-quarter adjusted earnings to be around $3.44 per share. FedEx has withdrawn its fiscal year 2023 earnings forecast.
The company expects business conditions to weaken further in the second quarter...Read More
See Also: So Is Dogecoin Heading Back to 5 Cents Or Making A Run To 10 Cents? Survey Says...
According to data from Benzinga Pro, Amazon has a 52-week high of $188.11 and a 52-week low of $101.26.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
