Not Good Enough…
Shares of e-commerce giant Amazon (AMZN) tumbled in aftermarket trading on Thursday after the company reported profit had more than doubled, but still fell well short of analyst expectations. It has long been Amazon’s strategy to invest most of the money it makes back into its businesses, particularly Amazon Web Services and $99 Prime loyalty program. After operating at or near a loss for years, the company finally demonstrated the ability to consistent profits. Yet the company wasn’t able to match investor’s expectation in the fourth quarter. The Seattle based company’s net income more than doubled to $482 million, or $1 per share, up from $214 million, or $0.45 a share last year. The problem… analyst had predicted revenue would be $1.55 a share.
We’re Splitting Up…
Xerox Corp, announced Thursday, it will spin itself into two companies and give three board seats to activist investor Carl Icahn. The move reverses an effort by the century-old company to marry business services with its copiers and printers. Xerox will divide itself into two separate publicly traded companies: one containing its office machines and the other will house its services operations. The company also announced profits and sales declined for a fourth straight year.
Asia: Asian markets rallied after the BOJ (Bank of Japan) adopted a negative interest rate policy.
Europe: European stocks ended lower on Thursday after downbeat economic data from the Eurozone and the Federal Reserve’s cautious stance weighed down investors.
U.S: U.S markets rallied on Thursday as oil prices continued to climb. DJIA: +125.18 16,069.64 NASDAQ: +38.51 4,508.68 S&P: +10.41 1,893.36
Word of The Day:
Gross Domestic Product
The monetary value of all the finished goods and services produced by a country within its borders in a specific time period, usually annually. Or put another way it’s like a countries price tag. The number includes both private and public consumptions, government productions, investments and exports minus imports. It is commonly used as an indicator of countries economic health aka is the economy growing (good) or is it declining (bad).
Dinner or Drink:
1 – 2 oz. Seagram’s® Extra Dry gin
6 oz. lemon-lime soda
6 oz. cranberry juice
Pour in the Gin over two ice cubes. Then pour in the Cranberry Juice, then the soda. Kind of a fruity taste but very smooth and drinkable over a long period of time.
Like our drink today, click here for more.
Have a safe and wonderful weekend, Ya’ll!