Economics
U.S. Stocks Decline as Amazon, Visa Results Miss Forecast
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U.S. stocks fell, pulling the Standard & Poor’s 500 Index down from a record, as earnings at Amazon.com Inc and Visa Inc. missed estimates and durable goods data fueled concern corporate investment remains stop-and-go.
Amazon plunged 9.7 percent after trailing analysts’ predictions for the second successive quarter. Visa sank 3.7 percent percent after lowering its full-year revenue forecast. Pandora Media Inc. slid 10 percent after the number of active listeners reported by the biggest Internet radio service missed some analysts’ estimates. Baidu Inc. rose 11 percent after earnings topped projections.