Apr
23
Written by:
Arthur Daret
4/23/2008 1:10 PM
After the close, Amazon and Apple reported earnings. Apple (AAPL)gave guidance that was below analysts estimates. For the quarter ended March 31, Amazon reported earnings of $143 million, or 34 cents a share, compared with earnings of $111 million, or 26 cents a share, for the same period last year. Revenue grew 37% to $4.13 billion for the quarter compared with $3.02 billion last year.
Apple said it expected earnings of $1.00 per share on revenue of $7.2 billion for its fiscal third quarter. Wall Street was looking for earnings per share of $1.11 and revenue of $7.17 billion, according to Reuters Estimates. Apple also expects gross margins in its third fiscal quarter to be flat with the second quarter's 32.9 percent.
Chipotle Mexican Grill (CMG) net income for the first quarter of 2008 was $17.3 million, or 52 cents a share, up from $12.4 million, or 38 cents a share, in Q1 2007. Chipotle said revenue for the quarter was $305.3 million, up from $235.5 million in the same period of 2007. The company said it opened 28 new restaurants in Q1 2008 and plans 130 to 140 new stores by year's end. Chipotle said same-store sales increased 10.2 percent. The stock was up slightly after hours.
We may see a gap up or down tomorrow on the Apple news. Earnings season usually brings big gaps one direction or another. Apple is now nearly unchanged after being down 5 points after hours.
| Senior Housing (SNH) |
+3.4% |
| Powershares Dynamic Healthcare (PTH) |
+3.17% |
| Ventas (VTR) |
+2.76 |
| KBW Regional Banking Index etf (KRE) |
-2.36% |
| Wells Fargo (WFC) |
-1.5% |
Have a nice evening!
Arthur Daret
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