FAANG Bites: Jim Cramer Has a Message for FAANG Critics

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Jim Cramer, the founder of TheStreet, calls detractors of FAANG “pound sand,” meaning “get lost,” on Twitter Thursday. 

Stocks end higher as data point to a brisk recovery for the U.S. economy with earnings from Amazon  (AMZN) – Get Report, Facebook  (FB) – Get Report, Apple  (AAPL) – Get Report, and Alphabet  (GOOGL) – Get Report topping expectations.

Amazon crushed its earnings forecast Thursday as shares hit a fresh record high. The company’s shares, which closed at $3,471.31 each after rising 0.37% on the session, were marked 3.55% higher in after-hours trading immediately following the earnings release to indicate a Friday opening bell price of $3,659.24 each.

Amazon said its Prime Day will happen in the current quarter, following last year’s COVID delay, with total revenues forecast between $110 billion and $116 billion.

Facebook, which reported a net income of $9.50 billion and was one of the top gainers on Thursday, saw shares rising after the social-media giant followed Alphabet in reporting a first-quarter surge in advertising revenue....read more...