Earnings Roundup 4/24/2008

After the close of trading yesterday, Apple and Amazon both reported solid earnings. Apple's earnings rose 36%, handily beating wall street forecasts. Amazon's earnings also rose 29%. Were either of these stocks up 20% like Google when it reported a 30% rise in earnings? Sadly, for shareholders, the answer is no. Although the real losers today may be the owners of the options on Apple and Amazon's stock who were pricing in a large move. Volatility in the options will more than likely get crushed today.
In what may be viewed as the most shocking earnings news of the day, Ford actually posted a profit for the quarter. What? A US automaker posting a profit? Before everyone runs out to start a car company to compete for fat profits, I'd like to point out that Ford only made a measly $100 million on $45 billion in revenues. Not the greatest margins in the world. But at least they've managed to stop the bleeding.
Credit Suisse continued the parade of embarrassing losses posted by financial firms. The company lost over $2 billion on a $5 billion write-down. The stock apparently rallied in European trading because the company claimed they did not need to raise capital. So, if the company raises capital it's bullish. If the company doesn't raise capital, it's bullish. Curious indeed.
Motorola posted a wider loss than expected on plunging sales of its Razr phones. MOT forecast a second-quarter loss, disappointing analysts who were expecting the company to return to profitability. I recently replaced my lousy motorola phone when it fell apart after 1 year, with an iphone. I fully understand why MOT is losing the cell phone wars.