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Pre-Market: Amazon Loss Narrows as Revenue Swells; Microsoft Gains From Enterprise


Zynga also delighted investors with a smaller-than-expected loss.

Stocks are set to extend yesterday's gains after major tech company earnings delighted investors.

US stock index futures were just slightly higher this morning. Dow (INDEXDJX:.DJI) futures were up 0.01% at 15,455.00. Futures on the S&P 500 (INDEXSP:.INX) gained 0.02% to 1,748.80, extending yesterday's record high. Nasdaq (INDEXNASDAQ:.IXIC) futures climbed 0.27% to 3,380.00.

Durable goods orders in September increased by 3.7% from a month earlier. Economists expected just a 2.5% increase in orders. The gains were mostly supported by transportation. Excluding that category, durable goods orders were down 0.1%.

Still to come, the final reading of October's University of Michigan/Reuters consumer sentiment survey is likely to come in lower than the initial estimate. Earlier this month, the index was 75.2, but after more than two weeks of a government shutdown, economists are expecting it to fall to 74.8., Inc. (NASDAQ:AMZN) shares jumped 7.7% in after-hours trading. The company's third quarter again saw it coming to a net loss per share of $0.09 while revenue rose 24% to $17.1 billion. Investors, who are accustomed to seeing no earnings as revenues swell, were delighted that losses narrowed from last year and revenue grew 24%, beating expectations. Recently, Amazon rose the minimum for free shipping to $35 from $25 and the number of Prime customers is growing.

Shares of Microsoft Corporation (NASDSAQ:MSFT) rose 6% after reporting better-than-expected earnings yesterday. Fiscal first quarter profits rose 16% to $5.2 billion, or $0.62 per share. Revenue also climbed 16% to $18.53 billion. The growth was more on the enterprise than consumer side as companies upgrade computers and buy Office and consumers increasingly replace their fleet of PCs with tablets. In the earnings call, the executives did not give any hint on the progress of the CEO search, which is slated to be finalized by the end of the year.

Zynga (NASDAQ:ZNGA) shares are up 10.33% this morning after the game company booked a narrower-than-expected loss of $0.04 per share. It also beat expectations with revenue of $152 million from 30 million active users.

Samsung (OTCMKTS:SSNLF) reported that net profit rose 25% to 8.05 trillion won in the third quarter and sales rose 13.2% to 51 trillion won. The South Korean chaebol's most profitable unit was its mobile phone business.

Increasing food prices bumped Japan's consumer price index up to an annualized 1.1%, which was more than expected.

Twitter: @vincent_trivett
No positions in stocks mentioned.
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