Amazon.com Inc. rose the most in 18 months on the Nasdaq after reporting sales that topped analysts’ predictions, fueling optimism that a surge in spending on warehouses and data centers will result in faster growth.
U.S. stocks rose, with the Standard & Poor’s 500 Index erasing losses in the final 30 minutes of trading, as investors weighed corporate earnings and consumer confidence before central-bank meetings next week.
Amazon.com Inc., the world’s largest online retailer, decreased the most in more than a year after forecasting operating profit that missed estimates as the company invests in warehouses and digital content.
Yahoo! Inc. , owner of the second- most popular U.S. Internet search engine, reported sales that missed analysts’ estimates as marketers devoted online search-ad spending to rival sites. The shares fell in late trading.
Yelp Inc., a website that lets users review businesses ranging from lounges to locksmiths, posted a record plunge after the company forecast revenue that missed estimates amid slumping ad sales to national retailers.