WEBVTT - Bloomberg's Sweeney, Wilson on Amazon's Blowout Earnings(Audio)

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<v Speaker 1>Global business news twenty four hours a day. If Bloomberg

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<v Speaker 1>This is a Roomberg business flash from Bloomberg World Handquarters.

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<v Speaker 1>I'm Charlie Pellett's folks from World Parkinson's coalition ringing the

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<v Speaker 1>closing bell. Biggest drop for stocks in three weeks as

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<v Speaker 1>Apple at an afternoon sell off in technology shares, overshadowing

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<v Speaker 1>corporate deals and strong results from Facebook. Facebook up today

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<v Speaker 1>by seven point two percent, Apple lower by three point

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<v Speaker 1>one percent. Jeff Morris is head of US Equities at

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<v Speaker 1>Standard Life Investments. He was our guest minutes ago right

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<v Speaker 1>here on taking stock. When you think about how we

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<v Speaker 1>came out of the financial crisis, there was ample despair,

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<v Speaker 1>you know, valuations were lower, and now the market is

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<v Speaker 1>has moved up, has escalated for some time, and now

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<v Speaker 1>seems to be just chopping sideways trying to digest this

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<v Speaker 1>environment of slow growth and relatively high valuation. So it's

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<v Speaker 1>really a time, I think that, and someone has to

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<v Speaker 1>be more focused on how they think about the market.

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<v Speaker 1>And today the SMP five hundred index fell nineteen points

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<v Speaker 1>down nine tenths of one percent down. Industriels down two

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<v Speaker 1>hundred seven points, a drop of one two percent, and

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<v Speaker 1>has stack down fifty seven, a drop there of one

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<v Speaker 1>point two percent. Gold advancing nineteen ten the ounce to

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<v Speaker 1>twelve sixty nine fifty a gain of one and a

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<v Speaker 1>half percent. Crewed up seven tenths of one percent forty

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<v Speaker 1>five sixty five a barrel. Abbot Labs buying heart device

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<v Speaker 1>makers St Jude Medical for twenty five billion dollars. Sasha

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<v Speaker 1>the Moony covers healthcare for Bloomberg News. She was interviewed

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<v Speaker 1>right here on taking stars. A good time for Abbott

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<v Speaker 1>to come in for this acquisition St Jude. I've been

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<v Speaker 1>covering healthcare for thirteen fourteen years. St. Jude has been

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<v Speaker 1>a perennial target every single year to the point where

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<v Speaker 1>you think, you know what, this company is never going

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<v Speaker 1>to be acquired, so they get acquired. The valuation if

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<v Speaker 1>you if you look at where they're trading at right now,

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<v Speaker 1>around seventy nine per share. The valuation is in line

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<v Speaker 1>to what it was in jull I last year and

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<v Speaker 1>St Jude up today by twenty five point six percent.

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<v Speaker 1>Am Jin top first quarter profit estimates, also boosting its

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<v Speaker 1>two thousand sixteen forecast. SMP down nineteen, the drop of

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<v Speaker 1>nine tenths of one percent four O two on Wall Street.

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<v Speaker 1>Now we'll look at other news from around the world

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<v Speaker 1>on Bloomberg Radio. Charlie, thank you from the Bloomberg News Room.

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<v Speaker 1>I Mark Crumpton. The United Nations Security Council is condemning

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<v Speaker 1>Wednesday's deadly air strike at a Syrian hospital run by

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<v Speaker 1>doctors without Borders. More than twenty people were killed in

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<v Speaker 1>the latest attack on a hospital in the country. Opposition

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<v Speaker 1>activists blame the government of Syrian President but shar Alissade

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<v Speaker 1>for the renewed violence. Senator Ted Cruz, at a rally

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<v Speaker 1>in Fort Wayne, Indiana, today, praised his new vice presidential pick,

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<v Speaker 1>Carly Fiorina. Carley has spent her whole life shattering glass

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<v Speaker 1>seilings and the naming of vice presidential nominee that may

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<v Speaker 1>well be the most solemn, serious decision any president candidate has.

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<v Speaker 1>Donald Trump says the Republican presidential race is over if

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<v Speaker 1>he wins in Indiana next week, but he's still railing

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<v Speaker 1>against what he calls the crooked way the party picks

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<v Speaker 1>its nominee. Speaking in Evansville, Indiana, today, Mr Trump claimed

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<v Speaker 1>that Ted Cruz was unfairly winning delegates. How Speaker Paul

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<v Speaker 1>Ryan is inviting Indian Prime Minister narnthram Mouthy to speak

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<v Speaker 1>at a joint meeting of Congress this summer. This address

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<v Speaker 1>presents a special opportunity for us to deepen our ties

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<v Speaker 1>with our with our ally India. It is a chance

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<v Speaker 1>to hear from the Prime Minister on how we can

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<v Speaker 1>work together to promote our shared values into increased prosperity.

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<v Speaker 1>Duke Ellington's suits, piano and other belongings are heading for auction.

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<v Speaker 1>Auction house Gernsney says about two hundred fifty items will

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<v Speaker 1>be offered May eighteenth at the National Jazz Museum in Harlem.

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<v Speaker 1>Ellington's iconic white baby grand piano could bring as much

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<v Speaker 1>as one million dollars. Global News twenty four hours a day,

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<v Speaker 1>powered by our two hundred journalists in more in one

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<v Speaker 1>fifty news bureaus around the world. From the Bloomberg News Room.

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<v Speaker 1>I'm Mark Crumpton, Charlie, and we thank you and again

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<v Speaker 1>recapping a move horor for stocks today SMP down nineteen,

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<v Speaker 1>a drop of nine tenths of one percent. Seconds ago.

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<v Speaker 1>We did hear from Amazon dot Com reporting earnings per

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<v Speaker 1>share of a dollar seven estimates there fifty seven cents.

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<v Speaker 1>Net sales twenty nine point one billion dollars estimates twenty

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<v Speaker 1>eight billion right now looking at Amazon shares six sixty

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<v Speaker 1>seven in the extended session. They finished the regular session

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<v Speaker 1>New York trading at six o two. So certainly a

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<v Speaker 1>stock and a story we're watching after ours. I'm Charlie Palatine.

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<v Speaker 1>That's a Bloomberg business flash. Move around, most great promotion.

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<v Speaker 1>I the el move you move like they do. I've

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<v Speaker 1>never seen anyone move that shot five people. Let's move

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<v Speaker 1>luck to get a purpose. That was called movers and shakers.

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<v Speaker 1>They cost a little more. That name cracked me up.

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<v Speaker 1>Bloomberg taking stock movers and shakers with Bim Fox and

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<v Speaker 1>Kathleen As on Bloomberg Radio. Well, Charlie palotis reporting on

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<v Speaker 1>those Amazon results. Wow. The first quarter earnings for Shore

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<v Speaker 1>at a hundred excuse me, a dollar seven cents versus

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<v Speaker 1>an estimated fifty seven cents reminds me of Facebook. Uh,

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<v Speaker 1>just blowing off the door with its EPs yesterday. On

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<v Speaker 1>the second quarter net sales, Uh, they were a bit

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<v Speaker 1>higher the net sales coming in. But it's a second

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<v Speaker 1>quarter outlook where they're expecting twenty point eight to thirty

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<v Speaker 1>billion dollars in change versus the twenty nine point billion

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<v Speaker 1>one billion reported in the first quarter that we're going

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<v Speaker 1>to be looking at shortly. I just want to break

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<v Speaker 1>down the SP five hundred today. We've got nine gamers

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<v Speaker 1>for Herden, two losers, four un changed. Dave Wilson are

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<v Speaker 1>stocks set, a r is here, and we've got of

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<v Speaker 1>course Pim Fox and meet Kathleen Hayes. Paul Sweeney, who's

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<v Speaker 1>the director of research at Bloomberg Intelligence follows Amazon very closely.

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<v Speaker 1>Probably want you to jump in and give us your

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<v Speaker 1>first blessed analysis of these results be able. The market

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<v Speaker 1>certainly likes these numbers. The stocks up about nine or

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<v Speaker 1>ten percent uh here in the aftermarket. So just a

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<v Speaker 1>real blowout in quarter in terms of revenue and EPs

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<v Speaker 1>relative to consensus estimates. And I think even more more importantly,

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<v Speaker 1>the company's guidance for for revenue for the second quarter

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<v Speaker 1>is better than expected as well. So you know what,

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<v Speaker 1>Amazon investors have always been, uh, you know, accustomed to

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<v Speaker 1>extremely strong top line growth, but now the company is

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<v Speaker 1>actually starting to deliver some profits, which is something that

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<v Speaker 1>Amazon investors really haven't had much of in the past.

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<v Speaker 1>Let me just add a little bit having to do

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<v Speaker 1>with Amazon Web Services, one of the most well one

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<v Speaker 1>of the strongest growing businesses that Amazon has about ten

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<v Speaker 1>percent of their business. But Amazon Web Services reporting that

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<v Speaker 1>they did two point five seven billion dollars in business.

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<v Speaker 1>That's compared to two point five three billion that was

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<v Speaker 1>estimated by analysts, so beating analysts estimates there. And also

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<v Speaker 1>the company says that customers bought twice as many fire

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<v Speaker 1>tablets as a year ago, So uh, customers buying more

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<v Speaker 1>and people using the Amazon Web Services even more. Shares

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<v Speaker 1>of Amazon are up twelve and a half percent UH

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<v Speaker 1>in after hours trading. Dave Wilson, Well, you know, you

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<v Speaker 1>can't just look at the web services business, which really

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<v Speaker 1>the growth engine of Amazon, uh, with without sort of

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<v Speaker 1>looking at the year or two year comparisons. We're talking

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<v Speaker 1>about sales up by a billion dollars, sixty percent, operating

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<v Speaker 1>income more than tripling. I mean, do we really need

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<v Speaker 1>to focus more on this side of the business, the

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<v Speaker 1>whole cloud community business to understand what's going on at

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<v Speaker 1>Amazon these days? That's the question to you. Paul Sweeney. Yeah,

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<v Speaker 1>I think that you know, one of the things about

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<v Speaker 1>the cloud business for you know, all the tech tech companies.

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<v Speaker 1>It's obviously um extraordinary growth story within tech overall. But

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<v Speaker 1>what's I think Amazon investors like about this business in

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<v Speaker 1>addition to that huge six revenue growth, is the fact

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<v Speaker 1>that it's actually profitable UM and you know, very strong

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<v Speaker 1>profit margins there, which again is something profits that Amazon

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<v Speaker 1>investors really haven't seen too much in the life of

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<v Speaker 1>the company. So it's certainly you know, Amazon has certainly

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<v Speaker 1>got a leading position in that marketplace. But as our

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<v Speaker 1>tech research has shown over the last couple of years,

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<v Speaker 1>it's an incredibly competitive market plays lots of big players,

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<v Speaker 1>lots of price competition UM. But AWS is clearly a

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<v Speaker 1>leader there. And again it's a profitable business for Amazon,

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<v Speaker 1>one of the best performing stocks last year. That's Amazon

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<v Speaker 1>really doubling its market volume. TEA. What are we waiting

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<v Speaker 1>to hear on the call from Jeff Bezos? You know,

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<v Speaker 1>I think it's uh, I think we're waiting to see

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<v Speaker 1>a little bit about how they're thinking about the overall

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<v Speaker 1>expense and investment UM in terms of operating expenses and

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<v Speaker 1>capital expenses in the core business. Again, there's always a

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<v Speaker 1>question there of are they going to rewatch it up

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<v Speaker 1>uh expense growth and at the expense of near term profits.

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<v Speaker 1>So I think people want to get a sense of

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<v Speaker 1>what is their outlook for expense growth going forward, because

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<v Speaker 1>we know the top line is very strong. And then

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<v Speaker 1>number two is again on the cloud business. You know,

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<v Speaker 1>how sustainable is this type of growth in this type

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<v Speaker 1>of profitability because investors are certainly getting used to seeing

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<v Speaker 1>these kind of numbers out of the cloud business. Just

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<v Speaker 1>to recap, Amazon dot Com reporting first quarter earnings per

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<v Speaker 1>share of a dollar seven versus analyst estimates of fifty

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<v Speaker 1>seven cents. Company also reporting net sales of twenty nine

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<v Speaker 1>point one billion dollars versus estimates of eight billion dollars

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<v Speaker 1>that was provided by analysts. Once again, shares of Amazon

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<v Speaker 1>right now are up about twelve percent and after hours trading.

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<v Speaker 1>I want to thank you very much Paul Sweeney joining

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<v Speaker 1>us from Bloomberg Intelligence. All right, now, it's time for

0:09:51.400 --> 0:09:53.880
<v Speaker 1>the Volatility Index Report. It is brought to you by

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<v Speaker 1>cbo E VIX Options and Futures. Volatility can be harnessed

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<v Speaker 1>The VIX move higher today, up more than a ten percent,

0:10:08.760 --> 0:10:12.320
<v Speaker 1>up one point three eight, settling at a fifteen point

0:10:12.360 --> 0:10:15.679
<v Speaker 1>of fifteen. Now taking a look at the VIX, it's

0:10:15.720 --> 0:10:18.920
<v Speaker 1>important to note that many people have been piling money

0:10:18.960 --> 0:10:21.760
<v Speaker 1>into e t f s connected to the VIX, and

0:10:21.800 --> 0:10:25.320
<v Speaker 1>that typically in the past has been a sign of

0:10:25.360 --> 0:10:29.960
<v Speaker 1>a potential market downturn. All right, Dave, you're up. Uh Hi,

0:10:30.800 --> 0:10:36.199
<v Speaker 1>my name is Dave. Just what do you think you're doing? Things?

0:10:36.320 --> 0:10:44.760
<v Speaker 1>We're going on will for moment four Dave. Carbo Ceramics, Dave,

0:10:44.880 --> 0:10:47.880
<v Speaker 1>how come they've gotten left behind? Well, that's really the

0:10:47.960 --> 0:10:50.280
<v Speaker 1>question you think about what's going on with energy stocks.

0:10:50.320 --> 0:10:52.160
<v Speaker 1>The way the price of oil is rebounded in the

0:10:52.200 --> 0:10:55.240
<v Speaker 1>least two and a half months, Carbo Suramics has been

0:10:55.280 --> 0:10:58.160
<v Speaker 1>certainly left out of the recovery. Now, this is a

0:10:58.200 --> 0:11:01.360
<v Speaker 1>company that provides what's called a suram mcpropp and used

0:11:01.360 --> 0:11:04.520
<v Speaker 1>by oil natural gas producers to prop open wells in

0:11:04.600 --> 0:11:08.880
<v Speaker 1>shale fields after fracking. Carbo Ceramics listed under the ticker

0:11:09.000 --> 0:11:12.600
<v Speaker 1>c R. Are they really tracked the two energy booms

0:11:12.640 --> 0:11:16.000
<v Speaker 1>and bus that have taken place since two thousand nine,

0:11:16.400 --> 0:11:18.760
<v Speaker 1>That said it came out with first quarter results today

0:11:18.840 --> 0:11:21.960
<v Speaker 1>that showed just how badly it's business has suffered. For

0:11:22.040 --> 0:11:25.120
<v Speaker 1>the fifth grade quarter, carbon Ceramics postal loss and saw

0:11:25.200 --> 0:11:29.400
<v Speaker 1>revenue fall more than fifty percent. Now chief exacutive Gary

0:11:29.480 --> 0:11:31.960
<v Speaker 1>Coolestants in the statement the Carbon Ceramics may need to

0:11:31.960 --> 0:11:34.880
<v Speaker 1>tap news sources of financing. He had that company may

0:11:34.880 --> 0:11:37.760
<v Speaker 1>try to generate revenue from its technology and plans more

0:11:37.880 --> 0:11:41.840
<v Speaker 1>cuts in pay, but that altogether shares a carbon Ceramics

0:11:41.920 --> 0:11:45.280
<v Speaker 1>fell as much as twenty one percent today, traded at

0:11:45.280 --> 0:11:49.800
<v Speaker 1>a record low and closed with a loss of Dave Wilson,

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<v Speaker 1>Thank you very much Bloomberg Stocks comments. Follow him on

0:11:52.400 --> 0:11:54.800
<v Speaker 1>Twitter at the One Dave. Send him an email at

0:11:54.880 --> 0:11:57.760
<v Speaker 1>d Wilson at Bloomberg dot net. Sign up for his

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<v Speaker 1>free daily email newsletter. You're listening to taking Stock on

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<v Speaker 1>Bloomberg Radio Bloomberg. Taking Stock is brought to you by

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<v Speaker 1>Fordham University to Cabelly School of Business Executive mb A

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