ATI pilots warn of strike action in threat to Amazon
Air Transport International’s pilots are nearing strike action, and have requested mediation in a first ...
ZERO HEDGE writes:
Update (1645ET): During the earnings call, Amazon says sales growth moderated as the third quarter progressed and it expects the challenges of inflation, rising fuel costs and weaker demand to persist through the holiday quarter.
Additionally, Amazon CFO Brian Olsavsky suggests more cuts could be coming. The company will continue to invest in growth businesses like Amazon advertising and cloud computing. But it will be “looking at our cost structure and areas where we can save money.”
With the bulk of the FAAMG stocks – which is now GAMMA following Facebook’s rebranding to Meta (at least until the company quietly changes its name back now that the whole Metaverse farce has blown up in its Metaface) – having reported Q3 results (which have uniformly been a disaster, sending megatech stocks tumbling), investors were keenly looking to Amazon and Apple earnings after the close today, to round out the picture for the (former?) market generals and set the tone for the rest of 2022, or at least until after the midterms when the BLS reports that real payrolls were actually -1,000,000, and also to conclude whether the ongoing Nasdaq implosion has been justified.
Focusing on Amazon, investors are expecting Amazon to outperform digital advertising peers Facebook and Google through an ad slump. The theory, as Bloomberg notes, is Amazon is closer to the customer at the time they are prepared to buy something, so that advertising is more valuable when consumers are penny-pinching when compared to broader marketing campaigns aimed at awareness on social-media sites like Instagram or Google’s search engine where users aren’t necessarily shopping…
The full post can be read here.
After the hangover, Friday comes and: “Amazon pares loss as Wall Street bulls pound the table on long-term upside“.