Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

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.

Amazon (AMZN)
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.

Amgen (AMGN)
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.

< Previous
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos