TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer is keeping an eye on earnings from Amazon (AMZN), which are released on Thursday, after the markets close. Analysts expect the Seattle-based company to report earnings per share of $1.58 on sales of about $36 billion. During the same quarter last year, the retail giant posted net income of $0.45 with revenue of $29.3 billion. ‘One of the things people are interested in about Amazon is are they going to compete with FedEx (FDX) and UPS (UPS)?,’ Cramer said. ‘Frankly, they have so much business they can compete – they need them both and they’re obviously very tough to everybody.’ Cramer said Amazon is using every single delivery method possible. For those who believe Amazon will hurt FedEx and UPS, Cramer said these are fluid situations and it’s important to watch for commentary from the earnings report and call on Thursday.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.