Yahoo Finance Macy's slashed, Amazon popping on new service, SeaWorld tanking
Macy's (M): Shares of the retailer getting slashed today after it missed on earnings and cut its sales forecast. Macy's miss comes on the same day that retail sales stalled in July, the weakest reading in six months. Macy's CEO Terry Lundgren said customers are still not feeling comfortable about spending more, and he has had to rely on discounting to drive sales growth, hurting margins.
Amazon.com (AMZN): The world's largest online retailer popping after announcing a new service. Dubbed Local Register, the system allows merchants to accept payments from mobile devices, thus setting its sights on payment companies like PayPal and Jack Dorsey's Square. Amazon is offering an introductory rate for merchants that's lower than competitors are charging - a tried and true tactic that Jeff Bezos has used many times over.
SeaWorld (SEAS): The marine park operator slammed by nearly 30%, sending shares to its lowest levels since April 2013. Investors dumped Seaworld after the company reported second quarter earnings and revenue figures that missed Wall Street estimates. The company, under fire from animal rights activists, hasn't been able to shake off the negative publicity generated by the documentary 'Blackfish,' which highlighted alleged mistreatment of Orca whales housed in its theme parks.
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