Stock Market Downplays Ebola Concerns; P&G recalls Duracell; Amazon reports heavy losses

Stock markets are moving forward and after opening volatility, they are able to achieve a large weekly gain.

Investors appear to be ignoring the first reported case of Ebola in New York and are instead focusing their attention on another round of better-than-expected earnings and strong housing data.

Sales of new single-family homes rose to a six-year high last month, up 0.2% to 467,000 units, the Commerce Department said.

However, oThe new earnings report that was a big disappointment was Amazon (AMZN). Shares fell sharply after the online retail giant saw one of its worst quarterly losses on record, despite a 20% increase in revenue. But even this number was lower than estimates. And perhaps even more worryingly for Wall Street, Amazon is warning that sales in the all-important holiday shopping quarter may not be so rosy either.

Microsoft (MSFT) shares approached a yearly high of $47.57 per share in early trading. The tech giant saw profits and revenues beat forecasts last quarter, thanks to recent growth in PC sales and strong demand for its software and cloud services.

While Microsoft’s stock is up more than 20% this year from yesterday’s close, the opposite is true for Amazon’s stock, which is down more than 20% for the year.

Yahoo Finance editor-in-chief Aaron Task says: “Right now you want to own Microsoft and leave Amazon.”

However, Yahoo Finance’s Jeff Macke disagrees and compared Amazon’s relationship with Wall Street to Elizabeth Taylor’s relationship with Richard Burton. He says they will be together again soon.

Related: Amazon shares tumble after earnings decline

Procter & Gamble (PG) withdraws from the battery industry. The consumer products giant will spin off its Duracell division into a separate company to focus more on profitable brands.

Yahoo Finance senior columnist Michael Santoli said P&G’s decision to leave Duracell made sense because it didn’t really fit their portfolio; the company acquired it with the acquisition of Gillette in 2005.

Task pointed out that Wall Street goes through cycles and we are now in an era of decay, think eBay (EBAY), PayPal and Hewlett Packard (HPQ).

Related: Amazon Concern; P&G shuts down Duracell; UPS provides rhythm

In other earnings news, UPS (UPS) reported both earnings and revenues, with both earnings and profit expectations being the highest. Revenues increased by almost 6% compared to the previous year as all areas of the business strengthened. UPS also said it expects shipments to increase 11% in December.

Ford (F) Third-quarter earnings and revenue exceeded analyst forecasts, although both were lower than the same period last year. Ford slowed down a bit as it had to retool its plant in Dearborn, Michigan, for the launch of the new F-150 truck. Despite this, it was the 21st consecutive profitable quarter for the company.

Outside the world of profits, Lionsgate stock (LGF) are higher in early trading. Alibaba could put to use the sizable amount of cash it raised in its record-breaking IPO last month. The New York Post Office reports that the Chinese e-commerce giant is considering purchasing a 37.4% stake in Lionsgate Entertainment, the studio behind the hit film “The Hunger Games.” Alibaba (WOMAN) founder Jack Ma is reportedly circling Hollywood studios looking to acquire online content. Our parent company Yahoo (YHOO) owns approximately 16% of shares in Aliabab.

Related: Airbnb and the new world order for business

The new economy is making headlines once again. Apartment rental company Airbnb is preparing to sell employee stock, and reports say the company is now worth $13 billion! That’s up from $10 billion six months ago, meaning Airbnb is worth more than some large hotel chains like Hyatt (H) and Wyndama (RESULT).