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via finance.yahoo.comMarkets

Cloudflare, Fastly, Oracle, JFrog and Okta shares plunge after disappointing Amazon and Intel earnings

FROM THE WIRE · FINANCE.YAHOO.COM

What happened? A number of stocks fell in the afternoon session after underwhelming earnings reports from tech giants Amazon and Intel (after mediocre earnings reports from Alphabet and ServiceNow the previous day) sparked widespread investor anxiety regarding aggressive…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishConcerns over aggressive AI spending and sustained cash burn are weighing on the broader technology sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Amazon and Intel reported underwhelming earnings, following mediocre reports from Alphabet and ServiceNow the previous day.
  2. 02Investors fear heavy spending on data centers and computing hardware will not translate into revenue soon.
  3. 03The slide extended to hardware suppliers while other areas of the market showed positive momentum.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Amazon.com, Inc.AMZNStock240.35 USDMarket closedtoday -1.41%Negative Intel Corp.INTCStock65.76 USDMarket closedtoday -28.58%Negative Oracle CorporationORCLStock130.68 USDMarket closedtoday -6.36%Negative Cloudflare, Inc.NETStock280.70 USDMarket closedtoday -9.54%Negative Fastly, Inc.FSLYStock23.11 USDMarket closedtoday -9.85%Negative Okta, Inc.OKTAStock208.24 USDMarket closedtoday -6.14%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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