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Earnings Reality Bites

Tyler Durden's picture


UPDATE: FB -17%, AMZN -0.5%, SBUX -5.3%

A quick run-down of this evening's catastrophe among the sweetheart hope stocks. From Facebook, Amazon, and Starbucks - not pretty. Top line misses, earnings misses, and outlook guides down... FB -13%, AMZN -2% (was -6%), SBUX (-6%). Via Bloomberg...

  • *AMAZON.COM 2Q SALES $12.83B, EST. $12.90B 
  • *AMZN SEES 3Q NET SALES $12.9B-$14.3B, EST. $14.11B
  • *STARBUCKS TARGETS FY13 EPS $2.04-$2.14, EST. $2.28 
  • *STARBUCKS SEES 4Q EPS 44C-45C, SAW 46C-48C, EST. 48C

But have no fear - Draghi and Bernanke have our backs... so why are all the CEOs cutting outlooks? Don't they 'believe'?






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Thu, 07/26/2012 - 16:27 | 2654447 Concentrated po...
Concentrated power has always been the enemy of liberty.'s picture

Zucked Earnings, Bitches!

Thu, 07/26/2012 - 16:30 | 2654455 AlaricBalth
AlaricBalth's picture

FACEPLANT!!! Down 9% afterhours.   Monetize this... Marky.

Thu, 07/26/2012 - 16:31 | 2654470 ACP
ACP's picture

It's almost as though Draghi knew how bad earnings would be today......

(not that they haven't been horrid so far)

Thu, 07/26/2012 - 16:34 | 2654487 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Good thing Tyler lost some credibility pumping Biderman, otherwise this post would look like Tyler knew who to publsih, like not guys that go long FB.

Way to go Tyler.  Not only do you post idiot Biderman relentlessly, you also post Junjauh, and other such idiot bears.  Your blog is a snowflake, buddy.

Thu, 07/26/2012 - 16:36 | 2654503 smlbizman
smlbizman's picture

down goes biderman..down goes biderman...

Thu, 07/26/2012 - 16:43 | 2654522 DoChenRollingBearing
DoChenRollingBearing's picture

Ha ha ha re FB, SBUX and AMZN.

GOLD, bitchez!

Thu, 07/26/2012 - 17:07 | 2654659 withnmeans
withnmeans's picture

CNBC has a totally different look on things, and that Big PUKE Gartman will one day come to eat crow.

Super Mario will have an end like Mussolini, just a matter of time. His Italian brothers will deal with him.

"This caught me completely off guard," admits esteemed investor Dennis Gartman on CNBC's Fast Money Halftime Report.

Draghi pledged to do whatever necessary to save the euro. "And believe me, it will be enough," he said.

"Immediately I sold some of my short positions," Gartman explains. "And after comments like that, you can't cover fast enough."


I just can't laugh enough "And believe me, I can't quit laughing".

Thu, 07/26/2012 - 17:13 | 2654677 luna_man
luna_man's picture



"MR Lennon Hendrix"...


Stick around, it's too early for you to be slinging so much SMACK!


Remember...He who laughs last, laughs the loudest!...By the way, I happen to think "Biderman" is one of the better analyst...As for MY MAIN MAN, none better!!

Thu, 07/26/2012 - 17:33 | 2654725 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Too early?  Biderman said he would buy the IPO and then he went and put it on his conviction buy list at 31.  Biderman's logic is "Rahrah rahr rah!  Buy facebook!"  What a fucking genius!

Thu, 07/26/2012 - 19:22 | 2655027 smlbizman
smlbizman's picture

he bragged that he bought it for 30.00....than recently smiled cause he was up 5%....i dont know if he had a brain fart or what....but even a nobody no nothing like me knew it was just a churn....i have never ever saw a stock pararded around like that before...but it was the same as groupon, gm, et. al. jokes, how he fell for it i dont know...but we all fuck up so.....

Thu, 07/26/2012 - 16:39 | 2654521 veyron
veyron's picture

Right now 24.00 (10%)

Thu, 07/26/2012 - 16:44 | 2654548 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Vey, maybe if we move to Sausalito and tell everyone the obvious things about the economy but to buy fb Tyler will publish our work.

Thu, 07/26/2012 - 16:52 | 2654595 DoChenRollingBearing
DoChenRollingBearing's picture

@ veyron, Mr Lennon Hendrix

+ 1, nice!

Thu, 07/26/2012 - 16:45 | 2654555 smiler03
smiler03's picture

that's minus

Thu, 07/26/2012 - 17:04 | 2654646 veyron
veyron's picture

(10%) = -10% in most financial reports ...

Thu, 07/26/2012 - 22:37 | 2655431 Buck Johnson
Buck Johnson's picture

I don't know if any of  you are logged in to comment on CNBC, but I've noticed something.  I've been trying to comment on that site and it's increasingly having technical trouble and won't let you comment.  FB is going down the tubes and this earnings show that it's not a viable machine no matter how much CNBC pumped it up that week to get people to buy.  Our market is a third world one right now, where the govt. and MSM and rich manipulate it in order to make sure HAPPY THOUGHTS HAPPY THOUGHTS.  All this news should have had it in the red tonight and them talking about it. 

Thu, 07/26/2012 - 16:30 | 2654454 SheepDog-One
SheepDog-One's picture

But....surely this just means now theres more ROOM for more HOPE!


Thu, 07/26/2012 - 16:29 | 2654458 Cursive
Cursive's picture

Now's my chance to BTFD!  I'd rather watch re-runs of Melrose Place.

Thu, 07/26/2012 - 16:36 | 2654504 AlaricBalth
AlaricBalth's picture

I heard Amazon just put Facebook stock wallpaper on sale. And you get a free Starbucks coupon if you act now!!!

Thu, 07/26/2012 - 16:47 | 2654574 smiler03
smiler03's picture

Is Groupon involved?  (-8.7%)

Thu, 07/26/2012 - 20:03 | 2655118 huanjo
huanjo's picture

that's minus

Thu, 07/26/2012 - 16:29 | 2654459 hack3434
hack3434's picture

Now come the share lock up expirations.

Thu, 07/26/2012 - 16:33 | 2654482 AlaricBalth
AlaricBalth's picture

243,000,000 shares in the 2nd week of August. 10% of outstanding shares. All running for the exit door.

Thu, 07/26/2012 - 16:41 | 2654530 hack3434
hack3434's picture

I thought the # was 268mm then another 1.7B by years end. 

Thu, 07/26/2012 - 18:38 | 2654911 Bay of Pigs
Bay of Pigs's picture

It's going to be a fucking bloodbath.


Thu, 07/26/2012 - 16:31 | 2654467 realtick
realtick's picture

Thu, 07/26/2012 - 16:31 | 2654468 monopoly
monopoly's picture

So AMZN earns 1 cent, a fucking penny and advises a loss for next quarter and the stock is at 217. Where are my beads. This is beyond absurd.

Thu, 07/26/2012 - 16:34 | 2654486 alien-IQ
alien-IQ's picture

My advice to you: start drinking HEAVILY.

it's working for me.

Thu, 07/26/2012 - 16:54 | 2654603 DoChenRollingBearing
DoChenRollingBearing's picture

Advice seconded!

Thu, 07/26/2012 - 17:06 | 2654652 Rainman
Rainman's picture

don't know what heavily means, but advice thirded anyhoo

Thu, 07/26/2012 - 16:35 | 2654495 BandGap
BandGap's picture

No, where is your bong, this is absurd.

Thu, 07/26/2012 - 16:39 | 2654520 nmewn
nmewn's picture

Hopefully they'll "beat expectations" next

Thu, 07/26/2012 - 16:34 | 2654469 Jlmadyson
Jlmadyson's picture

We going to the moon baby! MAGIC all around!

In the famous words of one Stephen S. Roach;

Crack-cocain is a hell of drug.

Thu, 07/26/2012 - 16:32 | 2654472 Tim Knight from...
Tim Knight from Slope of Hope's picture

Tyler, you know I love you, but for pity's sake, could you use a color scheme that is actually visible? Like, oh, say, a white background? 

Thu, 07/26/2012 - 19:03 | 2654987 noob
noob's picture

ahhhhh, a bandwagon opportunity...

yeah ty, WTF

Thu, 07/26/2012 - 16:32 | 2654476 alien-IQ
alien-IQ's picture

Fakebook should be trading at single digit prices...single digits south of the decimal point that is.

Thu, 07/26/2012 - 16:55 | 2654617 Vincent Vega
Vincent Vega's picture

Give it til mid Aug. It will get there.

Thu, 07/26/2012 - 16:34 | 2654478 Squid Vicious
Squid Vicious's picture

Zuckerberg dead ahead!! 18% haircut, ouch...

Thu, 07/26/2012 - 16:38 | 2654511 alien-IQ
alien-IQ's picture

You don't really think he cares do you? He's got his loot. Now he's just sitting back and laughing at all the suckers he sold this pig to.

Thu, 07/26/2012 - 16:38 | 2654514 Dr. No
Dr. No's picture

Zuck sold at $38.  Pretty shrewed if you ask me.

Fri, 07/27/2012 - 08:40 | 2655973 Overflow-admin
Overflow-admin's picture

-18% = cuts the head?

Thu, 07/26/2012 - 16:39 | 2654479 Paul Atreides
Paul Atreides's picture

It's time to invent 'The High Frequency Guillotine'

Thu, 07/26/2012 - 17:10 | 2654666 tmosley
tmosley's picture

We already have those, we're just misusing them.  Right now, we use them to fly around, when we should be tossing in banksters and corrupt politicians.

Thu, 07/26/2012 - 16:33 | 2654480 Yen Cross
Yen Cross's picture

 And yet the, " Bung Holes" at CNBS were pumping homebuilders,even after that miserable housing number! I wish my mute button had a Santelli , Grasso, Kernan ect... you get my point , voice recodnition system on it!

Thu, 07/26/2012 - 16:39 | 2654519 ihedgemyhedges
ihedgemyhedges's picture

Well surely your remote has an "UP" and "DOWN" channel button you idiot................

Thu, 07/26/2012 - 16:54 | 2654609 The Gooch
The Gooch's picture

Try the POWER button.

Thu, 07/26/2012 - 16:55 | 2654613 Lucky Guesst
Lucky Guesst's picture

No shit but there are voices that are painful to listen to as you run from the kitchen and dive over the dog onto the couch and go from normal to half mute to mute. That 10-15 seconds feels like eternity and makes my ears feel like bleeding when I hear 1 second of Ofuckya.

Thu, 07/26/2012 - 16:45 | 2654553 smlbizman
smlbizman's picture

they shoud have must have missed larry yun and his eloquint explaination about the inventory shortage....i just called a realtor to list my home to help them with that home should be sold in...3....2....1...

Thu, 07/26/2012 - 16:33 | 2654483 penexpers
penexpers's picture

The U.S. consumer is dead. 

Thu, 07/26/2012 - 16:34 | 2654484 the not so migh...
the not so mighty maximiza's picture

Everybody is making money

Thu, 07/26/2012 - 16:34 | 2654490 monopoly
monopoly's picture

Yes Yen, I like that, a voice recognition system. Perfect. 

Thu, 07/26/2012 - 16:35 | 2654493 Ineverslice
Ineverslice's picture

23 handle

Thu, 07/26/2012 - 16:35 | 2654494 monopoly
monopoly's picture

FB down 18%. Great IPO> Well done asshole bankers.

Thu, 07/26/2012 - 16:35 | 2654498 nmewn
nmewn's picture

Quick!!!...ban short selling!!!

Thu, 07/26/2012 - 16:39 | 2654517 slaughterer
slaughterer's picture

Not until I cover.

FB = 2012's NFLX

Thu, 07/26/2012 - 16:38 | 2654501 Dr. Engali
Dr. Engali's picture

Profits? Who needs profits?  Obummer should be pleased as punch,except for one small detail. How are companies supposed to provide mandated health insurance with no money? 

Thu, 07/26/2012 - 16:36 | 2654505 Cdad
Cdad's picture

Seeing lots of block dumps on various names not involved in earnings tonight...dumps well below the bid.  At some point, the SPY is going to have to come to grips with the fact that its underlying issues are being destroyed. 

What a stupid and corrupted market.  Good grief...

Thu, 07/26/2012 - 16:44 | 2654554 Cdad
Cdad's picture

Most of these AH dumps are priced to four decimal points, well below the LOD, and large.  Yet another scam the criminal syndicate known as Wall Street perpetrates...selling into dark pools in a way so that the transaction is not picked off.

Good lord...when do we see the handcuff perp walks finally?

Thu, 07/26/2012 - 19:34 | 2655047 Al Huxley
Al Huxley's picture

The perps own the fucking system - why the hell would they arrest each other? (Not that I don't agree with your sentiment).

Thu, 07/26/2012 - 16:36 | 2654506 Squid Vicious
Squid Vicious's picture

and the SPY's are ... wait for it... GREEN !

Thu, 07/26/2012 - 17:23 | 2654706 EscapeKey
EscapeKey's picture

priced in already"

Thu, 07/26/2012 - 16:37 | 2654507 kaa1016
kaa1016's picture

How the fuck is AMZN up or even flat??? Unreal...

Thu, 07/26/2012 - 16:42 | 2654539 gjp
gjp's picture

The hope and faith in market 'players' is off the charts.  Amazon is one of the annointed ones.  No matter how much they lose, they are only 'investing for the future'.  The future that never comes.

Looks like they burned about $1.5b in cash first two quarters this year, will likely burn more next quarter given guidance, and they have to build inventory for christmas season.  And if the consumer rolls over after they build inventory, they may just have to raise some funds.  A far cry from a cash machine like Apple, but in Benny's world it's a $100b company trading at triple digit multiples on unrealistic expectations.

Thu, 07/26/2012 - 16:48 | 2654575 sessinpo
sessinpo's picture

I've actually been buying shit off of Amazon lately. But I'm still pissed at how hard a time I'm having getting more magazines for my 308.

Thu, 07/26/2012 - 16:37 | 2654508 penexpers
penexpers's picture

Facebook, Inc.:

After Hours: 23.90 -2.94 (-10.97%)

Jul 26, 4:35PM EDT


Thu, 07/26/2012 - 16:40 | 2654524 Seasmoke
Seasmoke's picture

i only gave you a red arrow , to indicate Facebook is on its way below $20

Thu, 07/26/2012 - 16:46 | 2654563 sessinpo
sessinpo's picture

I only gave you a red arrow , to indicate Facebook will be practically non existent like myspace.

Thu, 07/26/2012 - 16:58 | 2654629 pods
pods's picture

I only gave you a red arrow, to well,  hell I didn't want to be left out!

Thu, 07/26/2012 - 16:37 | 2654509 Satan
Satan's picture

Hmmm...Zynga is now cheaper than a Zinger from KFC.
Both will give you the shits though.

Thu, 07/26/2012 - 16:39 | 2654516 penexpers
penexpers's picture



Thu, 07/26/2012 - 16:38 | 2654513 Meesohaawnee
Meesohaawnee's picture

wheres Robo's take?

Thu, 07/26/2012 - 16:45 | 2654558 SheepDog-One
SheepDog-One's picture

I'm sure Robo 'saw it comin', from there in his Boner Fest.

Thu, 07/26/2012 - 16:41 | 2654523 virgilcaine
virgilcaine's picture

I had to google "zynga" to find out what it was.. online Games? what a joke.. in a Social network environment.. bwahaha.

Thu, 07/26/2012 - 16:40 | 2654526 chet
chet's picture

Glad I got in at $38/share!  This web stuff is a rocket ship to the moon!

Thu, 07/26/2012 - 16:43 | 2654541 ObungaBoy
ObungaBoy's picture

Some of the “smart” money paid $42 per share

Thu, 07/26/2012 - 16:46 | 2654566 chet
chet's picture

Ha!  They must feel silly now.  I only paid $38.  This Facebook is going to be the next MySpace, I swear!  Maybe as big as Napster!

Thu, 07/26/2012 - 17:00 | 2654638 pods
pods's picture

Long way to go though until they can even carry the towel of!

Thu, 07/26/2012 - 17:18 | 2654691 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Biderman will carry that towel all day.

Thu, 07/26/2012 - 16:41 | 2654527 ObungaBoy
ObungaBoy's picture

This is all about the pathetic iPhone driven U.S. economy

Thu, 07/26/2012 - 16:40 | 2654528 Zola
Zola's picture

If only there was no Bernanke or clown Draghi  QE involved, like you know just cutting interest rates... It would safe to short these POS all the way to 0... But now unfortunately too dangerous... Very annoying...

Thu, 07/26/2012 - 16:42 | 2654534 Squid Vicious
Squid Vicious's picture

Robo is a bond trader now  - with the few pennies he has left

Thu, 07/26/2012 - 16:54 | 2654608 nonclaim
nonclaim's picture

By market comentary he's more likely a bong trader.

Thu, 07/26/2012 - 16:43 | 2654538 sessinpo
sessinpo's picture

Yep, like I said, could get real ugly. But the real number to watch is tomorrow - GDP for 2Q. It will be interesting to see if/how they massage the numbers. Also got my upside gap filled on NYSE to 7750 (high today 7770), just based off of charts which someone suggested didn't work. LOL.

Thu, 07/26/2012 - 16:43 | 2654543 Seasmoke
Seasmoke's picture

you just know that those 2 Winklevoss twins, will be the last 2 idiots , left holding shares of Facebook

Thu, 07/26/2012 - 20:12 | 2655140 LarryDavis
LarryDavis's picture

dont worry their family has almost as much money as Zuckerberg.

Thu, 07/26/2012 - 16:43 | 2654545 ACP
ACP's picture

GOD DAMN! Watching Barney Fwank on CNBC......every time I see that dick there or anywhere else he pisses me the fuck off. What a fucking asshole.

That guys photo is in the encyclopedia under both the words "asshole" and "sociopath."

If he wasn't a politician he'd be one of those FUCKWADS in that Las Vegas jailhouse yelling about shit and fighting and finally getting restrained in the chair. Fuck that crackhead.

Thu, 07/26/2012 - 16:46 | 2654564 Meesohaawnee
Meesohaawnee's picture

MS sure battin a thousand with those homeruns Facefuck and zynga.. i gotta hire them

Thu, 07/26/2012 - 16:50 | 2654585 Jlmadyson
Jlmadyson's picture

They are so Zucked. The Q is going to be ringer for them.

Truly the next Lehman,

Thu, 07/26/2012 - 18:25 | 2654567 magpie
magpie's picture

looks like i just got zucked for € 70 in 58 FB calls lol

*they should offer Orca vs. Monstersquid battles in the tank. just make up your mind already. what am i - rat, dog, monkey, magpie, killerwhale ?

Thu, 07/26/2012 - 16:54 | 2654602 devo
devo's picture

If a computer beeps after buying into the teeth of Draghi propaganda, but no humans are at work to hear it, does it make a sound?

Thu, 07/26/2012 - 16:56 | 2654619 Hype Alert
Hype Alert's picture

Awww, but today was so fun.  BS and the market goes up.  Reality and gravity bring it back down.


Hilsenbath better be thinking up something to tweet.

Thu, 07/26/2012 - 16:56 | 2654624 Satan
Satan's picture

Hello monkey, put that hammer down.

Thu, 07/26/2012 - 17:13 | 2654678 Mutatto
Mutatto's picture

Wow, FB is going to be right up there with VG as far as making money for shareholders go!  LMFAO

Thu, 07/26/2012 - 17:33 | 2654745 Mr_Wonderful
Mr_Wonderful's picture

They must have found something nice in the earnings. AMZN is up 2% AH.

Thu, 07/26/2012 - 17:34 | 2654748 adr
adr's picture

I was going to comment earlier before Facebook's earnings that there is no way in hell that number was going to a a beat or a miss before items. There was way too much riding on this report.

The number is pure fabricated bullshit but Zuckerfuck must have thought matching estimates exactly would cause shares to stay put where they were trading. Perhaps even get a nice pop on meeting targets.

Fuckerberg won't make that mistake another time. Expect Faceplant to hire the shadiest five star chef CFO they can find to serve the next earnings report up extra crispy. I expect that next quarter Facebook will report earnings triple the highest estimate, making everyone freak out and finally start looking into corporate finances.


Amazon can't make money with the margins they work on, and they won't let other corporations make any money either by stealing their business. Amazon is also a hotbed for stolen and counterfeit goods. The company doesn't care, and has some sort of ironclad legal excuse that they do not knowingly allow Amazon marketplace members to sell stolen or counterfeit goods, yeah right.

Fucking Starbucks believes they should be worshiped for saving 8 jobs in Ohio at a company making coffee mugs. WOW EIGHT FRICKIN JOBS!!! HERE'S YOUR NOBEL PRIZE!!!! Of course that is better than Obama.

Thu, 07/26/2012 - 17:46 | 2654778 Mr_Wonderful
Mr_Wonderful's picture

"In the report, the company said its operating margin was negative 63 percent during the second quarter and that capital expenditures had increased 213 percent from a year ago to hit $413 million." Sounds like Uncle Sam. Maybe it should be going on the stock market.

Thu, 07/26/2012 - 17:59 | 2654806 Mr_Wonderful
Mr_Wonderful's picture

So, how can FB make 12 cents a share when its operating margin is minus 63%?

Thu, 07/26/2012 - 18:04 | 2654818 Mr_Wonderful
Mr_Wonderful's picture

Revenue for the second quarter totaled $1.18 billion, an increase of 32%

Second quarter costs and expenses were $1.93 billion, an increase of 295%

In the real world that´s called being in the red.

Thu, 07/26/2012 - 18:12 | 2654829 q99x2
q99x2's picture

Internet bubble. Wrong century.

Thu, 07/26/2012 - 18:23 | 2654853 azzhatter
azzhatter's picture

Would have loved to see Maria Myfartshavearoma go hysterical over this shitstorm

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