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After Hours Earnings Summary: Amazon, American Express And Sandisk

Tyler Durden's picture




 

All three companies beat, yet Amazon not liking the news (down 4% AH), and now AXP going red. Of course, this being one of the most roboticized stocks, looks for the HFT crew to throw in some extra volumechurn in exchange for capital losses offset by liquidity rebates to bring the price back.

Amazon:

  • Amazon Q3 EPS USD 0.51 vs. Exp. USD 0.48
  • Q3 revenue USD 7.56bln vs. Exp. USD 7.37bln
  • Q3 North America segment sales USD 4.13bln
  • Q3 international segment sales USD 3.43bln
  • sees Q4 net sales growth of 26-40%, sees net sales of USD 12.0-13.3bln vs. Exp. USD 12.22bln
  • sees Q4 operating income USD 360-560mln
  • Q4 outlook includes about USD 140mln stock comp/amortisation

American Express:

  • American Express (AXP) Q3 EPS USD 0.90 vs. Exp. USD 0.84, up 70% from a year ago
  • Q3 revenue USD 7bln vs. Exp. USD 6.78bln
  • Q3 net USD 1.09bln
  • Q3 provision for losses USD 373mln
  • Q3 revenue net of interest expense USD 7.03bln

SanDisk:

  • SanDisk (SNDK) Q3 adjusted EPS USD 1.30 vs. Exp. USD 1.05
  • Q3 revenue USD 1.23bln vs. Exp. USD 1.23bln

MOMO favorite Amazon not faring too well after hours (for now).

 

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Thu, 10/21/2010 - 16:27 | 668048 the mad hatter
the mad hatter's picture

amazon.com: how the heck did we emerge out of the dot com crash jungle and become such a large etailer?

Thu, 10/21/2010 - 16:28 | 668050 Hawkeye Pierce
Hawkeye Pierce's picture

Earnings don't matter.  Price up your POMO SPY CALLS NOW!!!

Thu, 10/21/2010 - 16:29 | 668057 RobotTrader
RobotTrader's picture

Wild action after hrs. 

Chipotle taking off, Leggett & Platt going SPLAT!

What a casino.

Thu, 10/21/2010 - 16:30 | 668059 goldmiddelfinger
goldmiddelfinger's picture

It never happens at earnings season

Thu, 10/21/2010 - 16:30 | 668061 RaymondKHessel
RaymondKHessel's picture

Shorted AMZN at the close will cover ASAP tomorrow before they can pump and prime. This was a no brainer call. That's two misses in a row.

Thu, 10/21/2010 - 17:22 | 668224 pile of poop
pile of poop's picture

if you're so worried, why not cover right now?

Thu, 10/21/2010 - 16:32 | 668070 goldmiddelfinger
goldmiddelfinger's picture

rather a dull earnings evening i'd say

Thu, 10/21/2010 - 16:37 | 668082 goldmiddelfinger
goldmiddelfinger's picture

Here's one! RCKY Shoes! Big beats rock

 

Thu, 10/21/2010 - 16:39 | 668085 monopoly
monopoly's picture

This market is worse than a casino. At least there you get free drinks from attractive ladies.

Never seen a market as broken as this.

Just gonna keep my gold and silver and chill.

Thu, 10/21/2010 - 17:02 | 668162 homersimpson
homersimpson's picture

And at least you have better odds at a casino, too...

 

Thu, 10/21/2010 - 16:39 | 668086 HarryWanger
HarryWanger's picture

These three companies "all beat" as you stated. That would tell us that perhaps the economy is not falling off a cliff. Consumers continue to spend money - lots of it apparently.

So I ask again, if everything is so terrible, how is it earnings from retailers like AMZN and AAPL continue to make gobs of money? 

Thu, 10/21/2010 - 16:43 | 668099 Pillage
Pillage's picture

and ask why do we need QE2 while you're at it harry

Thu, 10/21/2010 - 16:46 | 668110 HarryWanger
HarryWanger's picture

We've been getting QE for quite some time with POMO. QE2, when based upon economic data and retail earnings, is not needed. Now for political reasons, that's a whole different ball game and that's why it's on the table. 

Thu, 10/21/2010 - 16:52 | 668127 Pillage
Pillage's picture

The Fed is independent from congress and not swayed by political decisions. Didn't you follow how hard they fought to keep from being audited because it would interfere with their independence. Do you seriously think the Fed would be swayed by congress for political gain?

Thu, 10/21/2010 - 17:14 | 668200 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

The Fed just wants to keep those in congress not to audit them. Once that is established, they keep their power. Play the game in the proper fashion.

Thu, 10/21/2010 - 17:23 | 668229 pile of poop
pile of poop's picture

Just because a few companies are making money does not mean the whole economy is doing well.  I mean, open your lens a little wider... beyond the top three fad stocks of the year.  At least you didn't mention NFLX.

Thu, 10/21/2010 - 16:50 | 668122 prophet
prophet's picture

BusinessWeek 10/11/10 cover story on AMZN headwinds for those who missed it.  Two very cool dudes.

http://www.businessweek.com/magazine/content/10_42/b4199062749187.htm?chan=magazine+channel_top+stories 

Thu, 10/21/2010 - 17:55 | 668315 rosiescenario
rosiescenario's picture

"In the Gouldsboro warehouse, robots do the heavy lifting..."

...so they are using the Wall St. biz model?

Thu, 10/21/2010 - 17:03 | 668166 mynhair
mynhair's picture

How?  BS accounting and vendor financing..wake up Juan Williams.

 

But flash drives rule!  Short Carbonite.

Thu, 10/21/2010 - 17:08 | 668181 Duncan
Duncan's picture

I don't know... why would the economy be doing terrible when the only companies that are making any money have truely mindboggling profit/employee ratios due to automation and/or outsourcing?

It's almost like there are no jobs, but somehow the spending is the same. But if that were true we would be seeing lots of bankruptcies and forclosures - and those are at record lows right ;)

But seriously, you can make gobs of money if you can scale up without increasing headcount, and that's where it's at right now.

Thu, 10/21/2010 - 17:35 | 668266 erik
erik's picture

seriously?  are you really going to make a bullish case based on the "beat the number" game?  revise and beat, low-ball and beat.

i bet over 50% of companies beat their numbers during the recession.  oh look here, your tell for a bullish market AAPL and AMZN both beat their numbers throughout the ENTIRE recession, yet the stock market lost 58% and both stocks got hammered.

i let a lot of your nonsense go, but this one must be called out.

Thu, 10/21/2010 - 19:00 | 668455 kathy.chamberli...
kathy.chamberlin@gmail.com's picture

i can attest to yes consumers are spending. my sister gets a delivery a day from amazon, doesn't have time to shop brick and mortar so AMAZON works. they have everything, even rubber duckies.

Thu, 10/21/2010 - 19:35 | 668522 PeterSchump
PeterSchump's picture

Beating expectations is such a proxy for the economy.  They are _expectations_.   The "beat" alone is a meaningless indicator.  Just how much of a neophyte are you?

Thu, 10/21/2010 - 23:23 | 668942 AccreditedEYE
AccreditedEYE's picture

Harry, for all the "beats" (however manufactured they may be) please explain why the market isn't EXPLODING higher. You had every excuse for a solid move higher today and..... ?

And, again, I will ask you.... if you really believe we continue "marching higher" why did you sell your AAPL position?

Thu, 10/21/2010 - 16:45 | 668107 prophet
prophet's picture

POMO and TOMO also create "liquidity rebates" to the PDs/repo counterparties, right?  Is the fed going hifreq?  

-profd

Thu, 10/21/2010 - 16:55 | 668137 TheMonetaryRed
TheMonetaryRed's picture

Why don't you stop your f##king whining? Seriously. 

When you signed up for capitalism, did you not get the idea that capitalism is a system designed to protect the interests of those with CAPITAL?

Are the people on ZH actually so deluded that they think THEMSELVES the "real" capitalists? 

It's very simple, but let me remind you how it works in case you've forgotten: To the extent that you have access to capital - that is, credit-capital, not pieces of shiny rock buried in your back yard - you're a capitalist. To the extent you don't have access to capital, you're SOL. 

You have talent? Who cares? 

You have votes? Who cares? 

"Can you monetize it?" - that's the only question that matters. To the extent you have access to capital, you can monetize. To the extent you don't, you can't.

"Oh but these stocks aren't really worth it. Oh, it's so wrong they're going up. Oh, I have the right answer and nobody's listening."

Boo.

Hoo. 

If you want to sell the stock, sell the stock. If people who have access to more money than you want to buy the stock, it's their money so shut up. 

I know, somehow, in your minds, because of something Bernanke is doing, somehow magically "they" are trading with money that, again, somehow magically belongs to you in the alternate universe you imagine.

Bullshit. They have money and you don't and you don't like it. 

Well, what the f##k are you going to do about it? 

Yeah, go buy gold. That'll show 'em. God knows that with all their money they can't buy more gold than you. 

Just grow up. 

It's their market, you just trade in it. How the f##k did you THINK things worked?

Honestly? Who EVER told you it EVER worked another way? Where did you get your ideas about capitalism from? A comic book? 

Thu, 10/21/2010 - 17:00 | 668145 TheMonetaryRed
TheMonetaryRed's picture

Wow, that was a bit...intemperate. 

Looks like somebody was in a bit of a mood today.

;-)

Thu, 10/21/2010 - 17:05 | 668173 mynhair
mynhair's picture

Dufus was short LIVE.

Thu, 10/21/2010 - 17:16 | 668201 plocequ1
plocequ1's picture

.

Thu, 10/21/2010 - 17:15 | 668203 plocequ1
plocequ1's picture

Wheres our attorney/ spokesperson when you need him. Tyler?

Thu, 10/21/2010 - 17:07 | 668178 mynhair
mynhair's picture

"It's very simple, but let me remind you how it works in case you've forgotten: To the extent that you have access to capital - that is, credit-capital, not pieces of shiny rock buried in your back yard - you're a capitalist. To the extent you don't have access to capital, you're SOL. "

 

Yep, I'm not one of the Chosen Ones.

Dufus.

Thu, 10/21/2010 - 17:18 | 668208 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Sad but true Red.....

Thu, 10/21/2010 - 20:54 | 668669 Kina
Kina's picture

His wife just left him for a ZH guy.

Anyway, nice get visits from MSM shills. So was this one from WSJ, SEC...

 

Fri, 10/22/2010 - 20:48 | 670919 toddcfairchild
toddcfairchild's picture

Seems to me anybody that "bought a bunch of shiny rocks" 10 years ago and "burried in their backyard" has access to about 500% more "capital" than the idiots that kept their "capital" in the bank.

Thu, 10/21/2010 - 17:07 | 668179 functionform
functionform's picture

Going long wkly amzn calls tomorrow morning following the iv crush.  pomo+amzn+weekly exps = win!

Thu, 10/21/2010 - 17:21 | 668187 mynhair
mynhair's picture

Personally, selling SNDK longs tomorrow.  Why it got beat up this week is beyond me.

Like FDO, has always outperformed, but need cash to buy back in the next beat-down.

Dang, that was an SP error!

Thu, 10/21/2010 - 17:09 | 668182 RobotTrader
RobotTrader's picture

No. 1 ranked IBD Top 100 mo-mo screamer was pole-axed today.

Thu, 10/21/2010 - 17:11 | 668191 mynhair
mynhair's picture

Damn Chinee, can't spell boring...

Thu, 10/21/2010 - 17:24 | 668230 Minion
Minion's picture

"DOUBLING UP ON CHINA" - Mad Hedge Fund Trader, last night.  :D

Thu, 10/21/2010 - 18:07 | 668340 Rainman
Rainman's picture

....kind of spooky that a Chinese company making corn based edible alcohol in China is an IBD favorite of favorites. Go figure. I wonder if you can eat it like a bag of Fritos.......it'll go great with legalized weed in CA.

Thu, 10/21/2010 - 19:23 | 668498 prophet
prophet's picture

REE was a whole lot of fun too. 5 day chart.

Thu, 10/21/2010 - 17:18 | 668210 Jones79
Jones79's picture

Cortez loves the McRib and gets packages daily from Amazon. 

Thu, 10/21/2010 - 17:20 | 668212 TonyV
TonyV's picture

Amazon gross sales of 7.56B and profit of 231M. That is a margin of 3%. Without Kindle they would most certainly be losing money. Talk about a bad business model.

Fri, 10/22/2010 - 05:31 | 669208 Bear
Bear's picture

I think it's a great business model ... for the customer

Thu, 10/21/2010 - 17:20 | 668216 Bigger Dickus
Bigger Dickus's picture

Is Sandisk bankrupt yet? I hate that company

Thu, 10/21/2010 - 17:22 | 668223 mynhair
mynhair's picture

Why?  Flash drives are great!  It's the drivers that suck.

Thu, 10/21/2010 - 17:43 | 668288 Bigger Dickus
Bigger Dickus's picture

Little chinese girls in sweat shops can make flash drives.

Thu, 10/21/2010 - 17:22 | 668225 csmith
csmith's picture

Nyet. $5 billion in cash...all time record gross margin.

Thu, 10/21/2010 - 22:44 | 668865 whatsinaname
whatsinaname's picture

who cares about cash ? unless its ploughed into equities ...

Thu, 10/21/2010 - 22:51 | 668880 Artful Dodger
Artful Dodger's picture

All rhetoric aside, who can provide an argument (not even your own, just some sell-side bullshit) for AMZN's 60+ P/E? It's a mature company. The audience for reading books on an expensive little Kindle tablet that isn't anywhere near an iPad (gasp) in functionality  is a small, tech-elitist group. The rest of us buy used paperbacks or go to the library.  Commenters here shit on Apple, but it's a thing of wonder compared to Amazon. Does a person buy long-dated puts on Amazon and just wait for the market to get real?  I was going to look into short-dated ones before the earnings, but I... forgot. Probably wasn't much to be made with a small earnings sell-off and an IV collapse.

Fri, 10/22/2010 - 07:42 | 669268 New_Meat
New_Meat's picture

Art:

"Does a person buy long-dated puts on Amazon and just wait for the market to get real?"

In the past that has been Fred Hickey's approach.

- Ned

Fri, 10/22/2010 - 20:41 | 670909 toddcfairchild
Sat, 10/23/2010 - 05:19 | 670917 toddcfairchild
toddcfairchild's picture

.

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