Shares of E-commerce giant Amazon.com (AMZN) are falling over 10% in pre-market trading Friday. The plunge comes after Jeff Bezos’ company reported Q3’14 earnings and revenue below expectations. EPS was reported as a loss of $0.95 a share against $0.74 estimated by the Street. Amazon also missed the street’s revenue estimates, $20.58B vs $20.86B, and gave a disappointing outlook.
Amazon’s big miss may be the last straw for investors, Lou Basenese, founder of the research firm Disruptive Tech Research said on CNBC.
“This is a show me the revenue story gone bad. Last November I warned that investors really are growing impatient…this loss is just really a hard one to swallow,” said Basenese. “Last quarter you had this loss of about $41 million and this is going to be a tough one to justify saying ‘we are investing in the future’ when the loss is that big.”
Amazon, currently valued at $144.70B, has a median Wall Street price target of $392.50 with a high target of $460.00. In the past 52 weeks, shares of Seattle, Washington-based company have traded between a low of $284.38 and a high of $408.06 with the 50-day MA and 200-day MA located at $321.59 and $322.87 levels, respectively. Additionally, shares of AMZN trade at a P/E ratio of (61.39) and have a Relative Strength Index (RSI) and MACD indicator of 44.99 and +2.14, respectively.
AMZN currently prints a one year loss of about 4.16% and a year-to-date loss of around 21.47%.
DryShips, Inc. (DRYS) is taking a large downtick on Friday’s pre-market hours, losing 23% to reach $1.54 from the previous close of $1.91. The shipping company announced Thursday a new offering of common stock, par value $0.01 p/sh. DryShips said it will use the net proceeds of the offering to repurchase a portion of its $700 million principal amount of debt under its 5.0% convertible senior notes that will mature on Dec. 1, 2014.
The dry bulker on Friday said it priced the offering of 250,000,000 shares at $1.40 a share, or 30% below Thursday’s closing price. The company said the offering is expected to close on October 29, 2014.
In the past 52 weeks, DryShips shares have traded between a low of $1.32 and a high of $5.00 with the 50-day MA and 200-day MA located at $2.45 and $2.94 levels, respectively.
DRYS currently prints a one year loss of about 26.74% and a year-to-date loss of around 54.55%.
News that a New York doctor who recently returned to the US from Guinea has checked himself into care after testing positive for the Ebola virus, sent some key Ebola stocks soaring in pre-market trading Friday.
iBio, Inc. (IBIO) jumped more than 12% to $1.83 as of 8:28am EDT. Lakeland Industries Inc. (LAKE) was up 14% to $17.40; Alpha Pro Tech (APT) was up 20.43% to $5.53; Swisher Hygiene Inc. (SWSH) was up almost 26% to $3.90, Tekmira Pharmaceuticals Corp (TKMR) was up 3.43% to $20.50; and Versar Inc. (VSR) was up 12.20% to $3.68.
Microsoft Corporation (MSFT) is up more than 4% in pre-market and is close to re-testing 52-wkh/$47.57, after the software giant reported revenues of $23.2B for the quarter ended 30 Sep. 2014, up by 25.2% compared with the same period in 2013 and with most product lines realizing year-over-year growth. Of special note, MSFT’s Commercial Cloud business grew 128% y/y.
Following the company’s strong results, FBR Capital issued a note to investors reiterating the name’s ‘Outperform’ rating, and raising it’s price target from $51 to $53.
Microsoft Corporation is up $2.03 to $47.04 in pre-market trading today.
Vitae Pharmaceuticals, Inc. (VTAE) just hit a new 52-week high of $12.90 in early trade Friday, surpassing their previous high of $8.79 set yesterday. That’s a 146.58% rise from the 52-week low of $5.41.
Vitae Pharmaceuticals announced Thursday positive top-line results from clinical trials in treatment and prevention of Alzheimer’s disease as part of the collaboration with Boehringer Ingelheim, one of the world’s 20 leading pharmaceutical companies.
In the past 52 weeks, shares of Fort Washington, Pennsylvania-based drug developer have traded between a low of $5.41 and a high of $12.90 with the 50-day MA and 200-day MA located at $7.01 and $7.01 levels, respectively.
In today’s pre-market session the equity is 50% higher.
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