January 31, 2014
U.S. stocks retreated on Friday, on course for their first monthly decline since August, in the wake of weak earnings reports by companies like Amazon and Walmart and concerns about declining currencies in emerging markets.
Amazon.com Inc. shares plunged more than 7 percent to $373.52 a day after the company missed Wall Street’s estimates for the crucial holiday period. The online retailer also cautioned investors about a possible operating loss this quarter as shipping costs climb.
Wal-Mart Stores Inc. shaved its outlook for the fourth quarter and full year to account for special items, including those tied to store closures and the restructuring of Sam’s Club.