Shares of Apple and Amazon decline as earnings from the tech giants disappoint, Block sinks after cutting guidance, and Take-Two Interactive Software delays the release of ‘Grand Theft Auto VI.’
Markets (^GSPC, ^IXIC, ^DJI) are rallying on a better-than-expected jobs number. Brian Jacobsen, chief economist and strategist at Annex Wealth Management, joins Morning Brief to explain why April's job gains may mark a peak. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
(Bloomberg) -- Apple Inc. received at least two downgrades on Friday, following quarterly results that reinforced concerns over tariffs and its growth potential.Most Read from BloombergNYC Lost $9 Billion of Income to Miami, Palm Beach in Five YearsNJ Transit Urges Commuters to Work Remotely If Union StrikesNew York City Transit System Chips Away at Subway Fare EvasionNYC’s MTA to Cut Costs Instead of Borrowing More to Fund UpgradesNYC’s Congestion Toll Raised $159 Million in the First QuarterJe
Reddit stock was up after it reported first-quarter earnings that beat analysts’ expectations, but not as much as it had been immediately after the results. Daily active users, a closely watched metric, rose to 108.1 million, a 31% increase over the same period last year, and slightly above analyst estimates of 107.3 million. Advertising revenue came in at $358.8 million, for a 61% increase over the first quarter of 2024.
Shares of Take-Two Interactive Software slid on Friday after the videogame maker said its publishing label Rockstar Games would delay the release of Grand Theft Auto VI. The highly awaited active-adventure game was originally slated to launch in fall 2025; however, its release date has now been pushed to May 26, 2026, the company said. In a press release, Take-Two CEO and Chairman Strauss Zelnick said the company fully supported Rockstar Games “taking additional time to realize their creative vision.”