On this episode of Stock Movers:
- Apple (AAPL) tumbled after component shortages weighed on the company’s sales forecast, signaling that industrywide supply constraints are taking a bigger toll than anticipated. Revenue will rise 9% to 11% in the fiscal fourth quarter, which is lower than analysts' estimates of more than 12% growth, due to constraints and currency fluctuations.
- Amazon (AMZN) shares surged after the company reported cloud-computing revenue accelerated for a fifth straight quarter, easing investors’ concerns that it won’t produce a return on huge expenditures to meet the booming demand for artificial intelligence. Revenue jumped 37% to $42.2 billion at Amazon Web Services, which generates about a fifth of the company’s revenue and most of its operating profit.
- Novo Nordisk (NVO) shares fall. A Novo Nordisk A/S experimental drug failed to reduce the risk of heart attacks and strokes in a large study, a blow to the drugmaker’s growth prospects beyond obesity and diabetes. The shot called ziltivekimab reduced the protein it was targeting in the body, but that didn’t translate into an impact on the risk of severe cardiovascular problems in the late-stage clinical trial, the Danish drugmaker said Friday.
See omnystudio.com/listener for privacy information.