Volume was light on a mixed day for U.S. equities that saw healthcare stocks rise 1.3%, while financials slipped 0.6%. The S&P 500 Index gained 0.1%, the Dow Jones Industrial Average edged 0.2% higher and the Nasdaq Composite lost a fraction.
Amazon.com, Inc. (AMZN)
Amazon found itself in the midst of some controversy late yesterday.
The company announced that its Studios head Roy Price has resigned from the e-commerce retailer just five days after being placed on a “leave of absence” after a producer accused him of sexual harassment.
Isa Hackett, a producer of the Amazon series The Man in the High Castle made the allegations. Albert Cheng took over as interim head of the studio during the leave of absence and he’ll remain on the position.
The accusations come from an incident that reportedly took place in 2015. Hackett said that Price made some unwanted advances towards her and lewd comments during Comic-Con, despite her shooting him down.
The public accusations against Harvey Weinstein have paved the way for others in the industry to speak up. “I hope we all continue to inspire each other and ultimately create change,” Hackett said.
AMZN stock fell 0.1% after hours.
Cree, Inc. (CREE)
Cree shares took a hit after the company unveiled its latest quarterly results.
The company said it posted a first-quarter loss of $20 million, or 20 cents per share during the quarter. In the year-ago quarter, Cree said it earned $566,000, or a penny a share.
On an adjusted basis, the company brought in $4 million, or four cents per share, compared to the $15 million, or 15 cents per share, from the year-ago quarter. Analysts were expecting the company to earn four cents per share.