Ticker Shock: Amazon, Amgen Impress; Jet Blue Still Depressing
Thursday's top stories and stocks with potential to move.
Asia's in the red, Europe's in the red - enough with all this doom and gloom already!
Oh well, it's almost the weekend. And, hey, as CNBC reminds us every 20 minutes, at least oil's down.
So, here's the good news: We're off to a positive start today.
The online behemoth reported a third-quarter profit of $118 million, or $0.27 a share, after the bell last night. Pretty sweet, in that it was a nice jump from the $80 million, or $0.19 a share, it posted in the comparable period last year. It was also $0.02 north of Street estimates.
But it's not all peaches and cream in the world of online retail. Amazon's looking at revenues of $6 to $7 billion in the fourth quarter - a bummer because analysts want $7.05 billion.
My take: It's lousy news, but I think the stock has terrific longer term potential. Plus, based on history, I just can't count CEO Jeff Bezos and crew out just yet. It's just a matter of picking a decent entry point.
By that same token, it sure would be nice to see insiders pony up some of their dough for the stock.
Also after the close on Wednesday, Amgen released its third-quarter numbers. The biotech put up an adjusted profit of $1.23 a share. That was far and away better than the $1.08 a share the Street had been expecting.
Amgen is "raising its 2008 adjusted EPS guidance range from the prior range of $4.25 to $4.45 to an increased range of $4.45 to $4.55, excluding stock option expense and certain other expenses, based upon sales momentum and lower operating expense due to continuing efficiencies."
By the way, that's good news, because the Street was at $4.38 a share.
Frankly, I'm not sure what I can add here folks -- this really was a good quarter. I think the shares will trade higher today.
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