Apple, Amazon, Zillow Rise After Earnings

On this episode of Stock Movers: 

- Apple (AAPL) shares climbed in extended trading as fourth-quarter revenue edged past analysts’ estimates despite a surprise sales decline in China, where it’s been struggling to stage a comeback. Total sales rose 7.9% to $102.5 billion in the period, which ended Sept. 27, the company said in a statement Thursday. That slightly beat the $102.2 billion average estimate.

- Amazon (AMZN) shares rose in extended trading after the company reported net sales for the third quarter that beat the average analyst estimate. Amazon's cloud unit posted the strongest growth rate in almost three years, reassuring investors who were concerned that the largest seller of rented computing power was losing ground to rivals. 

- Zillow (Z) shares rose in the aftermarket after the company announced third-quarter results that exceeded analyst estimates, even as the real estate firm battled several lawsuits from competitors and regulators.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio News.

Speaker 2 (00:08):
The Stock Movers Report, your roundup of companies making moves
in the stock market, harnessing the power of Bloomberg Data.

Speaker 1 (00:17):
Let's take a look at some stocks on the move today.
I'm Tim Stanveek along with Carol Mass and we are
joined by Bloomberg News cross as a reporter Danita Sikova.
DANITZA A lot moving in the after hours as we
are talking really big moves.

Speaker 3 (00:30):
Obviously, Amazon is on the move. I'm looking now at
more than eleven percent gain. Of course, it's all about
the cloud. Cloud unit posted the strongest growth rate in
almost three years. The ticker, of course is AMZ and
Amazon Web Services posted revenue thirty three billion. That's a
twenty percent increase unless we're expecting about the eighteen percent grows.

(00:53):
So this is well above expectations. During that quarter. Amazon
total sales also so beat onless expectations there roles thirteen
percent two hundred and eighty billion. There was obviously a
lot of concern about the cloud business, that Amazon is
falling behind and their competitors are winning the race. Clearly,

(01:17):
investors are very optimistic now that we saw those results
of course, Amazon Ewise heavily on a entro pick and
they have had an eight billion investment in platform. So
as much as they position themselves as a leader in
the space, they have a big partner for sure. But
really massive reactions after hours, and it has the games

(01:40):
had continued after the Indish reaction, so quite impressive rally.
Really probably one of the biggest gainers of the Magnificent seven.
After earnings, Yeah, pretty wild up eleven percent here in
the aftermarket.

Speaker 1 (01:51):
Let's go to Apple, which has had an interesting aftermarket
trade today.

Speaker 3 (01:55):
It's been a roller coaster ride for Apple stock. Gains
about four percent, a little bit over percent record sales.
That's why the optimism. It comes some good projection for
December quarter. Everyone is rushing to buy the iphon seventeen.
That's definitely helping. So we're seeing those gigs, but the
initial reaction was quite different, and fourth quarter revenue in

(02:19):
China fell, so that's one of the reasons potentially we
saw some initial hesitations for invention from investors. Revenue from
Greater China fell about four percent to fourteen point five
billion for the period, which is less than what analysts expected,
but still that was definitely a concern broader. The earnings

(02:40):
report was strong. Total sales came above what the street
will expected. Of course, they're concerns about Apple in China,
but actually sales in the US are very strong, and
that's bringing some optimism.

Speaker 1 (02:52):
Just twenty seconds on Zlo ticker.

Speaker 3 (02:53):
Z zero is up about one percent and now third
quarter results that exceeded analysts estimates. Real estate firm is
battling several lawsuits. Just this week we get a little
bit more information, but the earnest report is helping some
positive moves after here. Of course small compared to Amazon
and Apple, but still positive reaction there.

Speaker 2 (03:17):
The stock Mover's report from Bloomberg Radio. Check back with
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