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Meta, Amazon Earnings Put Stock Market to the Test
  + stars: | 2023-10-22 | by ( Karen Langley | ) www.wsj.com   time to read: 1 min
Amazon counts among the big tech companies whose shares have fueled the S&P 500’s rise. Photo: Johnny Milano/Bloomberg NewsInvestors are about to see whether the stock market has more fuel in the tank. A group of tech stocks known as the Magnificent Seven has powered the S&P 500’s 2023 rally. Most of those companies will open their books in the coming days, allowing investors to gauge whether big tech and the broader market have room to run.
Persons: Johnny Milano Organizations: Bloomberg, Investors
With the stock market still in in oversold territory Wednesday, according to the S & P 500 Short Range Oscillator , we are once again putting our large cash position to work. In the same vein as our Microsoft (MSFT) buy on Monday, we're adding a small number of shares to our Amazon position. We continue to believe Amazon stock has more room to run now that it's finally turned the corner on profitability and AWS revenue. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer's, it's, Jim Cramer, Jim, Johnny Milano Organizations: AMZN, Microsoft, Web Services, CNBC, Bloomberg, Getty Locations: oversold, Melville , New York
For a fee of $200 to $400, sellers can pay for services like "Amazon Magic," as one broker on encrypted messaging service Telegram calls it. The Telegram group has over 13,000 members, and it's far from the only one. A public Facebook page identified by CNBC offers an internal screenshot service with "valuable insight into your seller account, allowing you to see how Amazon employees view your account and its performance." Account annotations, internal notes from an Amazon staffer on a seller's account, were among the confidential data being exchanged between the defendants and employees. The Amazon Magic group on Telegram is public, with users advertising black hat services almost daily.
Persons: Johnny Milano, Christy Distefano, Remi Vaughn Organizations: Bloomberg, Getty, Telegram, Facebook Groups, Walmart, CNBC, Facebook, Amazon ., LinkedIn, Amazon, Street Journal, Department of Justice, FBI Locations: Melville , New York, China, India, Costa Rica, Ukraine
Using phone records and a sophisticated system that maps the reach of cell towers, a team of investigators had drawn the irregular shape across a map of tree-lined streets in the Long Island suburb of Massapequa Park. By 2021, the investigators had been able to shrink the polygon so that it covered only several hundred homes. In one of those homes, the investigators believed, lived a serial killer. A decade before, 11 bodies had been found in the underbrush around Gilgo Beach, a remote stretch of sand five miles away on the South Shore. He was charged with three of the murders, to which he has pleaded not guilty, and was named as the prime suspect in the fourth.
Persons: Rex Heuermann Organizations: Shore, Penn Locations: Long, Massapequa, Gilgo, Midtown Manhattan, Penn, Manhattan, Suffolk County
In this article BBBYAMCGME Follow your favorite stocks CREATE FREE ACCOUNTA "Store Closing" banner on a Bed Bath & Beyond store in Farmingdale, New York, on Friday, Jan. 6, 2023. Johnny Milano | Bloomberg | Getty ImagesMeme stocks rallying one more time Stock Short interest % float Wed. Gain % off 52W high Bed Bath & Beyond (BBBY) 48.9% 68% -88% AMC (AMC) 21% 21% -77% GameStop (GME) 21% 7% -62%Source: FactSetThe rally in Bed Bath & Beyond was initially triggered by news that it would lay off more employees in an attempt to reduce costs and stay in business. The home goods retailer told employees that it is eliminating the chief transformation officer role, which is held by Anu Gupta, on the same day it reported disappointing fiscal third-quarter results. Bed Bath & Beyond is approaching a potential bankruptcy, as its sales decline and losses grow.
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