Earnings

Japan`s Nikkei tumbled -2,75% today. Nikkei suffered the biggest one day loss since august, hit by yen`s strength against the dollar. Investors tend to fear that tight credit conditions in China will put the brakes on the world`s second largest economy. The rest of the Asian markets are also a little bit down. The european market is also a little bit down. Seems like the strong Euro hurts the earnings. Gold is up 1,2% to $1.346,60.

You have probably seen the father and son drama over Netflix stake? Billionaire investor Carl Icahn mean he did the right thing when he sold his Netflix stake, possibly worth hundreds of millions of dollars. But his son Brett, disagree. Icahn acquired Netflix shares for an average price of $58. Netflix shares are now trading at $331,22.

Carl Icahn cut his 9,4% stake by more than half to 4,5%. As I was writing about yesterday about risk/reward and how to buy stocks earlier, Icahn have, for all I know already decided when to go out and sell.

It will be interesting to see who of them, father or son, who was right. Anyway, It`s never wrong to take some profit. If the stock plummet, Carl Icahn can buy more. If the stock continue to go up, he still have 50% of the stocks in Netflix in his portfolio.

Earning came in yesterday. Here is some of them:

Microsoft (MSFT) beats estimates and shares rise +5,8% AH. EPS of $0,62 beats by $0,08. Revenue of $18,53B (+16% Y/Y) beats by $740M.

Zynga (ZNGA) beats Q3 estimates and shares soar. Up +11,3% AH. Q3 EPS of -$0,02 beats by $0,02. Bookings of $152,1M (-40% Y/Y) beats by $8,4M.

Samsung investing in Corning (GLW) +20,7% AH. Full Q3 results arrive on Oct. 30. GLW is taking full control of the Samsung Corning LCD glass JV. 43%-owned by Samsung Display. The Company says it expects to report Q3 revenue of $2,1B (+10% Y/Y) and EPS of $0,33.

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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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