Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Friday, July 29, 2022 12:47:44 PM
By: Schaeffer's Investment Research | July 29, 2022
• The company's revenue beat Wall Street's estimates
• Amazon issued a sunny Q3 forecast
Big Tech earnings took center stage before the market opened, and Amazon.com, Inc. (NASDAQ:AMZN) highlighted the batch, with its shares up 12.4% to trade at $137.42, at last glance. Though the company reported second-quarter losses of 20 cents per share, due mostly to a $3.9 billion loss on its Rivian (RIVN) investment, it's seeing tailwinds from better-than-expected revenue of $121.23 billion thanks to key segments such as Amazon Web Services and advertising. As a result, Amazon issued a sunny forecast for the third quarter.
Options traders are already in a frenzy following the results. In the first half hour of trading, roughly 554,000 calls and 278,000 puts exchanged hands, which is five times the amount typical of this point in a given session. The weekly 7/29 135- and 140-strike calls are the most popular contracts, and new positions are opening at both. This indicates these traders see gains up to $140 for AMZN by the session's end.
A bull note barrage is further boosting sentiment, with no less than 14 price-target hikes rolling in. Cowen and Company stood out as the most optimistic, adjusting its price objective to $215 from $210. Meanwhile, Raymond James and Atlantic Equities cut their price targets to $164 and $160, respectively, and Benchmark finally adjusted its price target to $160 from $3,700 following Amazon's stock split.
Sentiment was already high coming into today, with 29 of 31 covering brokerages recommending a "buy" or better. What's more, the 12-month consensus price target of $172.71 was a 28.1% premium to last night's close.
Other members of the group formerly known as FAANG have weighed in with results recently, most notably Google parent Alphabet (GOOGL) and Apple (AAPL), but Amazon stock is experiencing arguably the best post-earnings reaction. Today's double-digit percentage pop back above the $136 level and 80-day moving average is significant, the sight of a late-April bear gap that dragged AMZN to two-year lows over the past few months. However, year-to-date the stock remains down 18.8%.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent AMZN News
- Apollo Eyes $5 Billion Investment in Intel; TSMC and Samsung Explore UAE Chip Projects, and More • IH Market News • 09/23/2024 10:32:25 AM
- Nike Shares Surge 7% Pre-Market as Elliott Hill Becomes CEO; FedEx Shares Tumble 13% After Profit Miss • IH Market News • 09/20/2024 10:02:58 AM
- AIG names new CFO; Progyny Drops 24% After Losing Key 2025 Contract; Exicure Jumps 190% With Nasdaq Extension • IH Market News • 09/19/2024 10:26:48 AM
- Buy with Prime and Amazon Multi-Channel Fulfillment Expand with New Capabilities and More Brands • Business Wire • 09/18/2024 02:34:00 PM
- Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles • IH Market News • 09/18/2024 10:13:07 AM
- Microsoft Boosts Share Buyback, Raises Dividends by 10%, Intel Secures Chip Deal with Amazon • IH Market News • 09/17/2024 10:40:35 AM
- Prime Big Deal Days is Back October 8-9—Offering Prime Members Exclusive Access to Millions of Early Holiday Deals • Business Wire • 09/17/2024 05:00:00 AM
- Intel and AWS Expand Strategic Collaboration, Helping Advance U.S.-Based Chip Manufacturing • Business Wire • 09/16/2024 08:01:00 PM
- Cellebrite Enhances Investigative Analytics Solution with Amazon Web Services (AWS) • GlobeNewswire Inc. • 09/16/2024 12:30:00 PM
- Intel Secures $3.5 Billion Subsidy, Stellantis Backs EU Emissions Targets, BP and Apollo Reach $1 Billion Deal • IH Market News • 09/16/2024 10:03:27 AM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Amazon Music Live Returns for Season Three with Series Premiere from Jelly Roll on October 17 • Business Wire • 09/13/2024 12:03:00 AM
- Norfolk Southern CEO Fired, Ryanair Lowers Fare Forecast, 23andMe Considers Acquisition Proposals • IH Market News • 09/12/2024 10:02:29 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/11/2024 11:07:18 PM
- GameStop plunges 11% on stock offering, DJT drops post-debate, GSK fails shingles vaccine trial • IH Market News • 09/11/2024 10:25:41 AM
- ADDING MULTIMEDIA National Football League and Amazon Web Services Expand Partnership to Further Shape the Future of Football • Business Wire • 09/10/2024 03:23:00 PM
- National Football League and Amazon Web Services Expand Partnership to Further Shape the Future of Football • Business Wire • 09/10/2024 02:00:00 PM
- Amazon Fresh Introduces New Grocery Savings for Prime Members • Business Wire • 09/10/2024 07:15:00 AM
- Broadcom Down 10% Post-Earnings, UiPath Up 8%; Qualcomm Eyes Intel Assets; Salesforce Acquires Own Company • IH Market News • 09/06/2024 11:59:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 08:20:13 PM
- Central Japan Railway Company Selects AWS for Yamanashi Maglev Line to Drive Efficient Operations for its Next-Generation, High-Speed Train Service • Business Wire • 09/05/2024 05:02:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 08:26:21 PM
- Intuitive Machines Soars 18% on NASA Contract, Intel Considers Splitting Operations, Dell Reassesses Selling SecureWorks • IH Market News • 08/30/2024 10:00:08 AM
- Big Lots Falls 27%, Considers Bankruptcy; DraftKings Acquires Simplebet, Berkshire Hits $1 Trillion • IH Market News • 08/29/2024 10:06:50 AM
- AWS Parallel Computing Service is Now Generally Available, Designed to Accelerate Scientific Discovery • Business Wire • 08/28/2024 07:23:00 PM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM