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...

  • *FACEBOOK 2Q COSTS/EXPENSES $1.93B MOSTLY ON SHR BASED COMP
  • *FACEBOOK 2Q ADJ. EPS 12C, GAAP LOSS 8C-SHR
  • *AMAZON.COM 2Q EPS 1C, EST. 3C
  • *AMAZON.COM 2Q SALES $12.83B, EST. $12.90B 
  • *AMZN SEES 3Q NET SALES $12.9B-$14.3B, EST. $14.11B
  • *STARBUCKS 3Q EPS 43C, EST. 45C; FORECAST CUT, SHARES FALL
  • *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'?

Facebook...

 

Starbucks...

Amazon...