During CNBC’s ‘Halftime Report’ on March 8, 2024, experts shared their final trades for the day.
Brian Belski from BMO Capital Markets recommended investing in AT&T Inc. (NYSE:T), while Wolfe Research analyst John Janedis upgraded AT&T to Outperform with a $21 price target.
Jim Lebenthal of Cerity Partners chose Amazon.com, Inc. (NASDAQ:AMZN) as his final trade, noting the company’s plans to boost investments in AI and robotics for its logistics network.
Liz Young, SoFi’s head of investment strategy, selected Energy Select Sector SPDR Fund (NYSE:XLE) as her final trade, highlighting the fund’s potential.
Joshua Brown from Ritholtz Wealth Management recommended Comcast Corporation (NASDAQ:CMCSA) as his final trade, citing the company’s strong fourth-quarter earnings and viewer boost during the 2023 NFL season.
On that day, AT&T closed at $17.05, Amazon closed at $176.82, Energy Select Sector SPDR Fund gained 0.9%, and Comcast closed at $41.74.
Amazon (AMZN) Stock Sees Slight Decrease on March 8, 2024 Despite Strong Performance
On March 8, 2024, Amazon (AMZN) stock experienced a slight decrease in price, trading near the top of its 52-week range and above its 200-day simple moving average. The stock opened at $176.31, which was $0.51 lower than its previous close. Throughout the day, the price of AMZN shares dropped by $0.17, representing a 0.10% decrease.
Amazon is known for its dominance in the e-commerce industry, as well as its growing presence in cloud computing and other technology sectors. The company’s innovative products and services, along with its strong financial performance, have made it a favorite among investors.
Amazon (AMZN) Financial Performance: Revenue Growth and Flat Quarterly Earnings – March 8, 2024
On March 8, 2024, Amazon (AMZN) stock had a mixed performance based on the latest financial data provided by CNN Money. The e-commerce giant reported total revenue of $574.78 billion for the past year, which represented an 11.83% increase compared to the previous year. However, total revenue remained flat at $169.96 billion for the last quarter.
Net income for Amazon was reported at $30.43 billion for the past year, showing an impressive 1217.74% increase from the previous year. However, net income also held flat at $10.62 billion for the last quarter.
Earnings per share (EPS) for Amazon stood at $2.90 for the past year, marking a significant 1185.25% increase from the previous year. Similarly, EPS remained flat at $1.00 for the last quarter.
Overall, Amazon’s financial performance showed strong growth in net income and earnings per share over the past year. However, the flat revenue and net income figures for the last quarter may have impacted the stock performance on March 8, 2024. Investors and analysts will be closely monitoring Amazon’s future financial reports to assess whether the company can sustain its growth trajectory and drive further value for shareholders. With its diverse business segments and innovative strategies, Amazon remains a key player in the e-commerce and technology industries, making its stock an attractive option for many investors.
