Amazon Rises, AMC Jumps, Marriott Falls on 3Q Guide Miss, Year Room Growth Tweak
On this episode of Stock Movers:
- Amazon (AMZN) shares rise. Amazon.com Inc. surpassed $3 trillion in market value for the first time, becoming only the fifth company to ever reach the milestone. The average analyst price target calls for the stock to rise about 14% over the year from where it currently trades, according to data compiled by Bloomberg.
- AMC Entertainment (AMC) shares jump as much as 7.5% Monday after the cinema theater operator said it generated its highest-ever total weekend revenue — including records for admissions and food & beverage — driven by the opening of Spider-Man: Brand New Day, which grossed $355m domestically and $927m globally.
- Marriott International (MAR) shares slide. The hotel operator gave a downbeat profit forecast for its third quarter and said it now anticipates net room growth for the full year at the low end of its previous 4.5%-to-5% guidance range.
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