FAANG Bites: Jim Cramer Has a Message for FAANG Critics

SourceCNBC
SectorEconomy
CountryMiddle east

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...