Diamonds and Dogs
Amazon (AMZN) is a beast. The online retailer is up a percent following much better than expected earnings. The company nearly doubled earnings estimates thanks to their higher-margin businesses, Amazon Web Services and advertising. Sales rose 39.3% year over year to $52.89 billion. Operating income rose 375% to $3.0 billion. Amazon provided third quarter sales guidance in line, but dramatically raised operating income guidance to a range of $1.4-2.4B verse estimates of $1.3 billion. At least five upgrades with price targets as high as $2200.
Fake new and fake accounts. Twitter (TWTR) id down 18% following earnings. The earnings were actually good beating estimates as sales rose 23.8% year over year to $710.54 million. However, user growth had turned negative as monthly user count went south, falling by 1 million to 355 million, as compared with the year's first quarter. The decline was expected after recent reports had the company purging about a million fake accounts a day.