US STOCKS-Amazon, Visa results disappoint, drag on Wall Street

viernes 25 de julio de 2014 10:38 GYT
 

* Durable goods data better than expected

* Amazon shares tumble after larger-than-expected loss

* Baidu jumps as net profit soars

* Indexes down: Dow 0.6 pct, S&P 0.3 pct, Nasdaq 0.4 pct (Adds data, Starbucks, updates trading)

By Rodrigo Campos

NEW YORK, July 25 (Reuters) - Disappointing earnings from Amazon and Visa dragged U.S. stocks lower on Friday in a broad selloff led by consumer discretionary shares.

Amazon tumbled 10.7 percent to $320.11 after reporting an unexpectedly big loss for the second quarter, citing greater expenses on investments. With more than 7 million shares traded in the first 45 minutes of action, volume was already above the average for the past 10 days.

"Earnings have been the driving force of this market all week. We had a series of good reports but Amazon in particular was a disappointment and has led to some profit taking," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.

Amazon dragged on the consumer discretionary sector , which lost 0.9 percent.   Continuación...