Traders Ejaculate with Joy in the After-Hours, Thanks to a Litany of Earnings Beats

Nasdaq futures are +37, after so many fine companies beat expectations after the bell. Need I remind you that Trump is responsible for all of these wins? Bigly.

Amazon prelim Q3 $0.52 vs ($0.01) Capital IQ Consensus Estimate; revs $43.7 bln vs $42.26 bln Capital IQ Consensus Estimate; operating income decreased 40% to $347 million vs. ($400)-300 mln guide

Western Digital prelim Q1 $3.56 vs $3.31 Capital IQ Consensus Estimate; revs $5.18 bln vs $5.13 bln Capital IQ Consensus Estimate

Microsoft beats by $0.12, beats on revs

First Solar beats by $1.11, beats on revs; raises FY17 EPS above consensus, reaffirms FY17 revs & shipment guidance

Intel prelim Q3 $0.94 vs $0.80 Capital IQ Consensus Estimate; revs $16.15 bln vs $15.73 bln Capital IQ Consensus Estimate

Alphabet prelim Q3 $9.57 vs $8.40 Capital IQ Consensus Estimate; revs $27.77 bln vs $27.17 bln Capital IQ Consensus Estimate

Gilead Sciences beats by $0.14, beats on revs, Raises low end of FY17 net product sales guidance

Align Tech beats by $0.20, beats on revs; guides Q4 EPS above consensus, revs above consensus

Mario Draghi announced the ECB reducing their bond purchases, which will be HALVED in January to just $35 billion. Couple that with the Fed balance sheet reduction program, there is a concerted effort to enact DEFLATIONARY policies worldwide.

Anyone remember when markets would chimp out at the notion of ending QE? Not only is QE ending, but the balance sheets are being reduced — yet stock are still trading higher.

This is good news for markets.

But can it last?

The training wheels are off and there hasn’t been dislocations thus far. The euro is getting absolutely ruined on this news — off by 1.4% v the dollar. The decline in the dollar, hitherto, has been a boom for exporters attempting to MAGA with their goods. If we’re on the other side of the mountain, this could be yet another meaningless bullet point for bears to cling onto, attempting to scare people out of greatness.

Who knows how stocks are trading higher? Perhaps robots.

Anyone interested in one of the world’s largest and most successful biotech companies getting tossed into the sewers? Anyone?

Celgene had plans, scheming all around in those laboratories, producing a wonderful revenues arc.

Look where that got them.

Here’s the short of it.

Reports Q4 revenue miss; lowers FY17 revenue slightly below consensus; lowers 2020 long-term financial targets following GED-0301 setback.

Mizuho is optimistic.

Mizuho finds it encouraging that management was forthright in admitting where it made mistakes in its projections and saying that GED-301 caused the company to “take pause” and assess risks where it may not have previously in its 2020 guidance. They believe there will be a rebuilding process with investors in the months to come to pave the path forward and restore confidence / credibility, but today was a good first step. They are in the process up updating their model / PT, but they note that CELG has essentially retraced all its gains in the last 12 months. Their thinking is here that momentum players have exited the stock (if not all, then mostly), and this stock is now one for value investors to relook at.

But even with this sudden drop, the shares aren’t cheap, trading 44x earnings and 9x sales. Back in 2012, the shares traded 6.3x sales, according to Exodus.

The stock is down nearly 40% from the highs with no stop in sight.

Gents,

I was fortutious enough to have purchased OSTK last week at $37. When I did this, a couple of the homeless men who venture these threads threw their pickle jars at me — declaring that I had ruined their “secret” MUH blockchain investment strategy, which entailed tossing darts into a garbage dumpster filled with names of ICOs. I suppose the Gods weren’t looking when I bought it; but don’t worry, I just sold it out for an 18% profit.

With a portion of the proceeds, I doubled down on HMNY — reducing my basis to $17.5.

It is in my best interest, as well as the interests of others, to seek the complete destruction of the movie theatre business. By supporting Moviepass, we might see leverage shifted back towards the consumer, forcing theaters to share in the profits of their $10 gigantic cokes. Understand something, I am not a malevolent man. I seek joy and happiness, just like many of you. But I have an insatiable drive to succeed and nothing says ‘I am winning’ more than ‘you are losing.’

These are the side effects of quasi-psychotic behavior; granted, I’ll give you that. Then again, being a normie is boring. You shouldn’t expect me to just blog away without wanted to destroy something, anything.

Rough draft alert, part two of my book, tentatively titled BUST. I will rewrite the whole thing — but this should give you the gist of where I’m heading.

Yesterday was an off-color aberration and I’ll probably have to sell my UVXY at a heinous loss today. European markets are fagging higher and Nasdaq futures are +13. Amusingly, the IBEX has soared, up 1.75%. The more Catalonians they beat, the higher their stocks go. There is an direct inverse correlation between freedom and market success.

I wouldn’t bother looking for additional information on this here blog, the materials you’d need for a successful day, in terms of analyst recs and earnings — because I wasn’t in the mood to waste my time today. Giving it to you is like throwing it away. It’s for closers.

I’ll just leave you with this.

Twitter sees Q4 EBITDA $220-240 mln; at the high end of adjusted EBITDA range, we will likely be GAAP profitable

Happy birthday, Madame Secretary. May you enjoy this fine day under the heavy influence of some solid barbiturates and wanton levels of alcohol. You should’ve been President — it was your turn — but the Orange Monster had to ruin it and used Russian hookers to piss all over him, which upped his power levels and provided him with the spiritual zest needed to hack the elections.

Say hello to Bill for me.

Mournfully,

Le Fly

Making headlines for two days in a row, David Einhorn discussed valued investing and his bubble basket with ABSOLUTE FAGGOTS from CNBC. I know, saying the word FAGGOT might be misconstrued as homophobic and result in me being labeled as someone who’s intolerant to the changing times. While all of the might be true, I think it’s important to start talking about the absolute collapse of this bull market, beset with thousand dollar stocks and companies trading at 25x sales, leisurely, without a worry in the world.

This was Trump last year, saying Yellen was an abomination.

Since then, she’s done nothing but try to fuck him via tight monetary policy. Alas, he now loves her.

I don’t need your opinion on this. Trump is retarded.

I repeat: THE BUBBLE BASKET HAS ROLLED OVER.

Do not attempt to fight this undeniable fact. High valuation stocks are being tossed into the sewers. Men wearing skirts are frantically trampling over each other, attempting to seek refuge.

David Einhorn is on CNBC discussing value investing.

It’s over.

Bonus round, social media stocks are on the other side of the mountain.

In preparation of Hillary Clinton’s 100th birthday, I sold PANW, WDAY and GNK — all for break even to moderate sized losses. Given that my “lottery tickets” in HMNY and FIZZ have turned up snake eyes for 20 days in a row, I felt it made sense to “hedge” my others longs with a little UVXY — because nothing says “Happy Birthday you dumb bitch” like a directional bet against the markets.

I ventured off yesterday, after visiting the gym, to my locale Whole Foods and was delighted to see endless boxes of La Croix seltzer water — infused with the essence of lime, lemon and pamplemouse, littering the aisles of this great store. The women at the cash register assured me that my investment in FIZZ was secure and that any dip in its shares should be gobbled up like a Thanksgiving Turkey.

While some of you might find the decline to be somewhat harrowing, or even bad, I cannot but look at it with kind eyes, hoping that it trades lower so that I could buy more.

Stocks are struggling mightily today and I suspect there’s more selling to be done — which I why I’d advise you to heed caution ahead of HER birthday and the JFK files — which are supposed to be released as she blows out the 100th candle on her buttercream birthday cake.

If I’m wrong and we pop off, so be it. I have an entire portfolio of systematically placed stocks that is designed to pace the market — something that I am sure many of you have neglected to partake in. You cannot simply go around, like an idiot, buying and selling high risk stocks without protection and expect to get away with it. Eventually, the pied piper will come and smash your brains in, as in the case of Moviepass — which seems to only trade down with schoolgirl excitement these days.

Maggie Haberman of the NY Times has been a hatchet man for the Times, against Trump, for the past two years. She’s been the chief recipient of numerous leaks from the White House and has been lauded and praised by all on the left and the Never Trump right for her exemplary work. Now they want her dead, merely because of this tweet.

Folks involved in funding this lied about it, and with sanctimony, for a year https://t.co/vXKRV1wRJc

— Maggie Haberman (@maggieNYT) October 24, 2017

Perhaps Maggie isn’t as vacuous as some expected? She’s a bit taken aback, if you will, regarding Hillary paying for the Trump dossier, which was filled with all sorts of scandalous lies and was prepared by a former UK spy and coordinated with the help of inside Russian agents.

Collusion anyone?

Wait, there’s more. According to someone from within the Podesta Group, there was continuous contact between Manafort, the Podestas and the Sec of State Hillary Clinton, regarding the Uranium One deal. In other words, there is now mounting evidence tying Hillary to the Russian government, not only for the Trump dossier, but also for the Uranium One deal.

As you could expect, markets don’t give a shit about this, and neither do I. Eurostoxx are +0.22% and Nasdaq futs are -10. Copper, Gold and WTI are all marginally lower — and the British Pound is +0.9% v the dollar. Perhaps BREXIT was just a scam?

There is notable movement in the bond market, with the 10y +4 bps to 2.45%.

Gapping up:
BONT +22.8%, APOP +21.9%, CAPR +17.7%, AKAM +8.6%, MDCO +8.1%, IRBT +6.2%, ALDX +4.8%, USNA +4.5%, MKSI +4.3%, ANTM +4.2%, KRA +4.1%, LPL +4.1%, WBA +4%, NOC +3.9%, RES +3.5%, RGC +3.4%, SENS +3.3%, BTI +3.1%, TUP +3%, TSS +2.7%, AMED +2.4%, OSTK +2.3%, MZOR +2.1%, ILMN +2%, COF +1.9%, WB +1.9%, S +1.7%, SIX +1.5%, AMC +1.4%, LDOS +1.4%, VNOM +1.4%, BXMT +1.4%, SIRI +1.4%, TNDM +1.1%, IMDZ +1.1%, LYG +1.1%, CNI +1%, NUVA +1%

Gapping down:
ACHC -24.6%, SNSS -13.5%, SVRA -12.6%, CMG -10.4%, MANH -9.9%, AMD -9.5%, HCM -9.4%, IDRA -9.2%, SALT -7.8%, BIOA -7.3%, JNPR -6.5%, VICR -6.3%, GHM -6.1%, EW -5.9%, RCII -5.3%, DPS -5.1%, PFLT -4.5%, SFLY -3.6%, SACH -3.5%, NBR -3.4%, WYN -3%, AMX -2.1%, DFS -1.9%, PII -1.7%, TXN -1.7%, T -1.6%, ESRX -1.4%, GM -1.2%, AI -0.9%, HBI -0.8%, NVDA -0.6%, NVS -0.5%, RRC -0.5%, KO -0.5%

Here is some more info, regarding earnings and analyst horseshit.