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Stunningly Amazon Does Not Surge After Reporting Q2 Operating Income Guidance Well Below Consensus
Who would have thought triple digit forward P/Es were expensive? The company reported an operating income guidance for Q2 of $220-$320 versus expectations of $332. Guess not everybody is rushing to learn to read good. Time to start handing out free Kindles to Greeks so they can finally download books that define "austerity."
From the press release:
Second Quarter 2010 Guidance
- Net sales are expected to be between $6.1 billion and $6.7 billion, or to grow between 31% and 44% compared with second quarter 2009.
- Operating income is expected to be between $220 million and $320 million, or to grow between 39% and 102% compared with second quarter 2009. The second quarter 2009 results include the impact of our settlement with Toysrus.com LLC for $51 million, substantially all of which was expensed during the quarter.
- This guidance includes approximately $130 million for stock-based compensation and amortization of intangible assets, and it assumes, among other things, that no additional business acquisitions or investments are concluded and that there are no further revisions to stock-based compensation estimates.
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No worries.
AXP and COF are going vertical after hours.
Eventually, Joe Six will have his $20,000 credit line reinstated, and his appetite for online spending will resume.
And that is what the market will focus on tomorrow. Consumers appear to be using their cards more. Good for the economy, bad for the consumer.
it's excellent for consumer!
I'd say americans in deepest debt ever are far better off than people in Africa that are full of equity.
+1, I often feel (relatively) poor living debt free.
The risk trade is still on, and as Bob Farrell says, the market makes the news, not the other way around. The indicators I watch show risk-appetite in the equity markets at Oct 2007 levels once again. But there's no indication of a turn yet. I am happily sitting in gold, corporates, some munis, and cash right now, and will be for the foreseeable future. My neighbor asked me about buying Apple and Amazon yesterday. My mother aksed me about Netflix, my poker buddy asked me about Citigroup and I just smiled and said to each of them, 'Buy 'em, they'll keep going up until they don't.'
And I'm 100% certain of that prediction.
Financials remind me of a guy I used to trade with that would always talk about how much money he would have made if he excluded his losses.
Mark to fugazi: the new accounting standard.
who cares about kindles, lots of 'em evil algos run on their s3 cloud
Words can only hurt you if you try to read them. Don't play their game!
"Austerity for Greeks"
Didn't meet expecations of everyone of the 11.4 million sitting home watching TV listening to the radio with headbands on buy a Kindle. (back to school)
The first cracks are slowly spreading and each day the algos on cyber-meth are adding more weight on the ice.
Lloyd Blankfein strikes me as the kind of guy that would dress like a woman in order to sneak into the last lifeboat.
He does have a frail, girlish figure, little stickly financier arms from years of not working, and a bald knob that would make wearing a wig a breeze...
Certainly not a "go down with the ship" type!
CNBC would spin it like "These were sophisticated lifeboat operators that should not have mistaken a man for a woman".
The important thing is the ipad has replaced the kindle.
Victory for the Americans that no longer have to pretend to read good when they can watch TV great.
Microsoft beat expectations according to reuters, but is down 4.3 % in AH
Give me all she's got Scotty.
I am Captain but she's gonna blow if we don't slow down and let the Lithium crystals cool down for an hour or so.
There is no tomorrow Scotty. Full speed ahead and damn the crystals.
And the crystals has hold for a year now, magic i suppose (the black kind)
There are no more crystals. The burned out years ago. It's all operating on crystal meth.
"ride the snake"
MSFT always "beats" the number. Funny how that works. Funny how they change CFOs quite frequently.
I guess they didn't beat expectations by as much as expected.
+1 Good one!
$50 Kindles by Xmas time?
Free Kindles - they absolutely SUCK compared to the appropriately-named iPad.
I think it's called 'sell the news'
These are great times to be building a real library. People are literally throwing away great books.
Yes but where do you find them?
In San Diego ALL the volume used bookstores have closed down.
So I buy on Amazon.
Yard sales, libraries (at least the one's not closing down) hold used book sales sometimes where people donate their books and they sell them to raise money. I intercepted a pick-up truck load at the town dump once.
Thanks to the CPSIA passed in the wake of the toxic toys panic (in the last days of the Bush admin. with input from Sen. Obama and nary a peep from children's librarian and literacy advocate Laura Bush) all children's books printed before 1985 are now illegal.
Thanks Government!
There hasn't been a good test case on the law yet but plenty of thrift stores, libraries etc. are already throwing away kids books to avoid liability.
This guy http://www.gotbooks.com/
has actually started a used book superstore business on the east coast and places book dumpsters in parking lots and gets his stock for free.
I just filled my library for about 15 dollars at the salvation army. Woot! Go long free books!
"Print is dead" - Egon Spengler
Classic, Tyler! Only on ZH can I expect to see such headlines drenched in sarcasm and fully reflecting the IDIOCY of the "markets" today.
'Print is dead'
They said that about vinyl and yet there has been a resurgence. A TV programme here in the UK the other day, where a family was living a 1970s lifestyle, had a young teenager who was comparing an LP record with a CD and said he liked the LP ('You can handle the cover and read it while listening to the record, there's something nice about the whole thing').
It's exactly the same with with books - there's a whole tactile aspect to them and you can lend them to friends ('Here's my Kindle/iPad' - can't see that catching on somehow).
DavidC
Amzn just fell victim to rat fatigue. After running nflx (now trading at 60x trailing free cash flow), wynn (40x 2011 high eps estimate), shld (40x eps) and all the other squeeze stocks off the top of their charts, the go-go's were just too wiped-out to play after the close.
Here I am.
Austerity for Greeks means no more riots, strikes, walkouts, or marching down streets in protest.
You don't expect the cradle of democracy to give up its free ride, do you?