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(Reuters) - Jeff Bezos’ surprise move to step down as chief executive of Amazon.com Inc quashed Wall Street optimism about bumper quarterly results, but analysts were upbeat on the promotion of its cloud computing head to the top job.
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Andy Jassy, 53, has long been considered a strong contender for the top job since Amazon.com Inc created two CEO roles in 2016 reporting to Bezos, the other held by recently retired consumer CEO Jeff Wilke.
However, few were expecting Bezos to step down when the company on Tuesday reported quarterly sales above $100 billion for the first time, delivering goods and gaining more cloud customers during the coronavirus pandemic.
Amazon com : Bezos shock exit cools Amazon results boost marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
Robinhood took out full-page ad in Tuesday s Times saying it is humbled
Online brokerage faces scrutiny after limiting the purchase of certain stocks
Robinhood struggled to meet deposit requirements at clearinghouses last week
Now executives will have to appear before Congress in hearings on the matter
It came as small investors on Reddit drove a buying frenzy in meme stocks
GameStop shares dropped in early trading Tuesday, as AMC and silver also slid
GameStop slides and silver spree stalls today rte.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rte.ie Daily Mail and Mail on Sunday newspapers.