After Hours

Tencent Overtakes Facebook As Hong Kong Stocks Flash-Smash Overnight

Hang Seng futures exploded over 5% higher as after hours trading began last night, then crashed back to unchanged as the underlying cash index hit its highest since Nov 2007 on the heels of a surge to new record highs for Chinese tech giant Tencent - which is now larger than Facebook by market cap.

Tesla Burns A Record $16 Million Per Day

Despite pushing back its Model 3 forecast, Tesla continued to burn unseen amounts of cash, and in the third quarter it outdid itself again, with a record cash burn of $1.4 billion - or roughly $16  million per day: an unprecedented amount.

Shares Of World's Biggest Toymaker Crater After It Suspends Dividend

Shares of Mattel, the world's biggest toymaker, cratered as much as 24% after hours after the company announced it would suspend its quarterly dividend starting in Q4, and instead use the cash to shore up its faltering business after a big hit following the bankruptcy of its largest retailer Toys‘R‘Us.

Amazon Soars Above $1,000 After Smashing Expectations

Amazon has done it again, and following a lukewarm second quarter and with Goldman warning not to get too excited going into earnings, Amazon is back to its short-crushing ways, reporting both revenues and EPS which blew away expectations. 

Government By Goldman

"...now Cohn’s in charge of the economy and talking about eliminating financial reform and basically putting the country back to where it was in 2005, as if 2008 didn’t happen. I’ve started the countdown clock to the next financial crash, which will make the last one look mild."

Finish Line Craters After Cutting Forecast In Half

Finish Line stock is down 22% after the company pre-released abysmal Q2 earnings and slashed guidance; it now expects EPS between $0.50 to $0.60 for the fiscal year ending March 3, 2018, versus the previous guidance range of $1.12 to $1.23