What's Going On With Amazon Shares

Amazon.com, Inc. AMZN shares are trading lower by 3.69% to $98.66 Tuesday morning. The stock is trading lower on downward momentum after the company last week reported worse-than-expected third-quarter sales results and issued fourth-quarter sales guidance below analyst estimates.

The stock is also trading lower amid overall market weakness as stocks fall on concerns over a tight labor market, which could impact future Fed policy.

What Happened?

Amazon reported third-quarter revenue of $127.1 billion, an increase of 15% year-over-year. The total came in shy of a Street estimate of $127. 84 billion according to data from Benzinga Pro.

The company reported earnings per share of 28 cents in the third quarter, beating a Street estimate of 22 cents per share.

Meanwhile, Amazon is guiding for fourth-quarter revenue to be in a range of $140 billion to $148 billion versus an analyst estimate of $155.15 billion...Read More

See Also: What's Going On With Alibaba Shares

Amazon has a 52-week high of $188.11 and a 52-week low of $97.66.