To Infinity and BYND? A Breakdown of Amazon, Alphabet, Starbucks and Beyond Meat

May 10, 2023

in Trade Tube

Reading Time: 2 mins read

Jim Cramer had the morning off.

So Real Money’s Kevin Curran filled in. And, if you caught TheStreet’s Facebook Live show Thursday morning, it was Curran’s final day at TheStreet.

AI News: Fable Banned, New Open-Source Leader, Midjourney Shocker

Strong Bond Market Catching Investors’ Attention

So, he got to fill Cramer’s shoes. At least for a day.

Amazon AMZN , Alphabet GOOGL , and Starbucks SBUX all reported earnings after the bell Thursday. And then there’s Beyond Meat, which reports earnings on Monday.

How’d Alphabet Do?
Alphabet is Real Money’s Stock of the Day.

The company reported second-quarter earnings of $14.21 a share, smashing estimates of $11.30. Revenue came in at $38.9 billion, which topped Wall Street forecasts of $38.15 billion.

And there was a little bit of a surprise when Google CEO Sundar Pichai disclosed that the Google Cloud Platform has an annual run rate of $8 billion. The metric is not one that the company normally discloses, however, the company has been talking about the Cloud Platform’s progress in more qualitative terms.

Amazon’s Earnings
Amazon also released earnings after the bell Thursday.

However, unlike Alphabet, the company fell short of analyst expectations and reported a profit loss for the first time in two years.

The company reported second-quarter earnings-per-share of $5.22, falling short of expectations of $5.57 a share. Revenue came in at $63.4 billion, beating expectations of $62.5 billion.

And Amazon Web Services–Amazon’s cloud service–reported revenues of $8.38 billion, which fell short of expectations of $8.5 billion.

Taking a Sip of Starbucks?
Yep, there’s another company that reported after the bell Thursday. And that would be Starbucks.

The company beat expectations.

The company that reported adjusted earnings in the quarter came in at 78 cents a share, beating estimates of 72 cents. It reported that revenue rose to $6.8 billion in the period from $6.3 billion a year earlier.

Let’s Take a Look at Beyond Market
The company reported earlier this week that it was teaming up with Dunkin’ Brands DNKN to bring customers in Manhattan meat-free sausage, egg and cheese sandwiches.

But the company now has a market cap of $13.4 billion dollars. And it’s up over 700% since it IPO’d in May.

And the company is set to report earnings on Monday, July 29.

SUBSCRIBE |

#JimCramer #NYSE #WallStreet

source