Google (GOOG) appears to be lifting other growth stocks higher. Facebook (FB) is up nearly 4% in the premarket to a new all-time high near $54. Amazon (AMZN) is also rising, and testing its all-time high. As for Google's numbers, it beat on both the top and bottom lines with earnings of $10.74 a share versus estimates of $10.34. Revenues hit $14.89-billion, $100-million ahead of estimates.
Chipotle (CMG) has been up nearly 8% to an all-time high in the premarket on its earnings which were released yesterday afternoon.The company actually missed on the bottom line with earnings of $2.66 versus expectations for $2.87. But sales topped the consensus. Chipotle reported better same store sales than expected. It also hinted at price increases sometime next year.
Not every company is climbing on earnings. AMD (AMD) has been down more than 10% in the premarket, despite beating estimates. The chipmaker made 4-cents a share for the quarter, twice what was expected. Sales also beat at $1.46-billion. AMD's problem: the company says don't expect a giant boost in business from the new crop of gaming consoles about to hit the market. The drop could also reflect an excessive run-up so far this year. Shares had climbed 62% before this fall.
Intuitive Surgical (ISRG) which has been down more than 7% on its earnings.This is the maker of the Da Vinci robot used in operating rooms. The company says it sold 101 of the machines in the quarter, down almost 50% from a year ago. Intuitive did in fact miss revenue estimates with sales that fell under $500-million when estimates were for $526-million. Still it managed to sail past earnings estimates at $3.99 a share compared to $3.40. Even before this morning's drop, Intuitive shares were down 20% this year.