The Amazing $AMZN after hours. $QQQ $SPY
— BL834 (@Lach14) Jul. 23 at 04:51 PM
Good evening,
The Dow Jones Industrials Average was dragged down by Caterpillar, AmEx, and 3M earnings Thursday, losing 0.7%. The S&P 500 dipped 0.6%, and the Nasdaq was down 0.5%. …Oil dropped again, closing the day at $48.45 a barrel, the lowest since March 31. …Starbucks just beat expectations, posting earnings of 42 cents per share and $4.88 billion in revenue, above the projected 41 cents and $4.86 billion in revenue. …Visa also came out on top, posting earnings of 74 cents per share and revenue of $3.52 billion, up from $3.16 billion a year ago.
Amazon slays earnings. The online retailer reported a 20% growth in revenue with $23.2 billion, beating the projected $22.4 billion. Earnings were 19 cents a share, compared to the expected drop of 14 cents per share. Investors responded happily, driving the stock up as much as 19% Thursday. The stock is up 55% for the year. Bloomberg
U.S. Treasury could be at risk. The U.S. Treasury’s Foreign Intelligence Network security is lax and could be vulnerable to hackers, a 2014 audit found. The network is used by the U.S. to track international threats and information that could impact the U.S. financial system, such as sanctions on Iran. Reuters
Japanese company wins Pink Paper. Nikkei, the largest media company in Japan, is purchasing the Financial Times for £844 million, or $1.3 billion. Pearson has owned the FT Group for 58 years. German company Axel Springer was also in talks with Pearson about the paper, but Nikkei was able to throw down money fast for the win. Financial Times
Ferrari drives into IPO. Ferrari is spinning off into its own separate, publicly-owned company filing for IPO on the New York Stock Exchange. FiatChrysler Automobiles has owned 90% of Ferrari for more than 25 years. About 10% of Ferrari will be open to the public, and another 80% will go to FCA shareholders. Forbes
Another Earth is waiting for us. The Kepler telescope found another plant that seems very similar to Earth, with a 60% larger radius. NASA says this is the “closest so far” to an Earth-like planet. The planet appears to be going through what Earth will in about a billion years, the “runaway greenhouse phase.” BBC
Tom Brady still tops jersey sales. We aren’t saying he didn’t deflate the ball, but the Patriots’ quarterback seems to be staging a comeback off the field. Brady gear beats out all other NFL players as the top selling jerseys, hats, and other fan items in the league. CNN