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7/30, 12:05 PM (Source: TeleTrader)
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Amazon, Pinterest down premarket after mixed earnings

Shares of Amazon.com Inc. and Pinterest Inc. dropped in premarket trade on Friday after the companies announced yesterday their respective earnings reports for the second quarter of fiscal 2021.

Amazon failed to reach projections for its revenue, prompting JPMorgan Chase & Co. to reduce the e-commerce giant's target price, while Pinterest reported a lower-than-expected number of users in the United States.

Amazon was down 6.15% to $3,378.5, while Pinterest plummeted 20.18% to $57.50 at 6:01 am ET.

Breaking the News / MS