Amazon (AMZN) and Microsoft (MSFT) are both surging on their
earnings, which came out after yesterday's closing bell. The climb puts Amazon
at an all-time high. As of yesterday's close it was already up 29% year-to-date.
Amazon had adjusted losses of 9-cents a share for the quarter. That's exactly
what was expected. Investors seem to be ignoring the fact that the company
issued guidance for the current quarter that was below consensus. Not a good
thing when you consider the period includes the holiday season. As for
Microsoft, the software giant had a healthy beat for the period with earnings
of 62-cents a share, 8-cents above estimates. Revenues also beat expectations.
Shares of Microsoft were already up 22% going into today's session.
Next up are service sector stocks Zynga (ZNGA) and Outerwall
(OUTR). Zynga lost 2-cents for the quarter, but it was expected to lose
4-cents, and revenue topped estimates at $152-million. Revenue was actually
down 36% from a year ago, and the company lowered its outlook for the current
quarter.
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