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Spotlight Stocks: Amazon, Apple, Credit Suisse, Motorola


Thursday's top stories and stocks with potential to move.


Stocks to watch for Thursday, April 24, 2008:

  • Amazon (AMZN) posted a rise in 1Q earnings to $143 million, or 34 cents a share, up 29% from $111 million, or 26 cents a share a year ago. Revenue rose 37 percent to $4.14 billion from $3.02 billion. The company was boosted by increased purchases through its free-shipping programs and from merchants using it as an online mall, reported the Wall Street Journal. Though profit margin concerns took shares down %5 in after-hours trading.
  • Apple (AAPL) reported fiscal 2Q earnings of $1.05 billion, or $1.16 per share, up 36% from $770 million, or 87 cents a share a year ago. Revenue jumped 43 percent in the period to $7.51 billion, beating expectations of $6.96 billion. Shares traded lower on a lower-than-expected profit forecast, though many will note Apple has traditionally been conservative with these.
  • Credit Suisse (CS) took additional writedowns of $5.26 billion yesterday related to credit. Though, the bank's core rich clients remained unaffected as net new money inflows into Credit Suisse's key wealth management business were 13.5 billion francs.
  • Motorola (MOT) reported a 1Q loss of $194 million, or 9 cents a share, wider than the loss a year ago of $181 million, or 8 cents a share. Net sales fell to $7.45 billion from $9.43 billion. Reuters reports that the company has seen weakness in its mobile devices business which sold 27.4 million phones in the quarter compared with 45.4 million in the year ago quarter.
  • Starbucks (SBUX) warned that its estimates for fiscal 2Q earnings, scheduled for April 30, were lower than expected. According to The Wall Street Journal, the company expects to report earnings of 15 cents a share, compared with 19 cents for the same period a year ago. Slow sales in the US, particularly in places hit hard by the subprime crisis like California and Florida, have hurt the company.

Market Recap

  • Asian trading closed with the Hang Seng +1.55%, Nikkei -0.28%, Sensex +0.14%, Taiwan -0.20% and Shanghai surging +9.29%.
  • Glancing towards Europe, we see the CAC -1.48%, DAX -0.99%, FTSE -2.04%, ATX -0.03%, Swiss Mkt. +0.78% and Stockholm -1.41%.
  • Commodities are trading lower with crude oil -0.51 to 117.79 and gold down -6.7 to 899.5 this morning.
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No positions in stocks mentioned.

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