Amazon, Meta, Microsoft Earnings Put Dan Loeb's Portfolio To The Test
Earnings reports from several key companies in Dan Loeb's Third Point portfolio hit the tape last week, offering fresh insight into holdings that, as of the fourth quarter of 2024, included major names across sectors.Amazon.com, Inc. (NASDAQ:AMZN): Loeb cut the stake from 3,700,000 shares in the third quarter of 2024 to 3,450,000 million in the fourth quarter of 2024.On May 1, the company reported first-quarter net sales of $155.7 billion, beating a Street consensus estimate of $155.04 billion and EPS of $1.59, exceeding the street consensus estimate of $1.36.Amazon guided for second-quarter net sales of $159 billion to $164 billion, up 7% to 11% vs street view of $160.91 billion.Amazon said the guidance is subject to “unpredictable” items that include foreign exchange rates, changes in geopolitical conditions and “tariff and trade policies.”CEO Andy Jassy predicted a potential shift in consumer behavior reminiscent of the pandemic era while asserting that the e-commerce giant is doubling down on affordability.JPMorgan analyst Doug Anmuth highlighted Amazon's Q1 revenue and operating income which exceeded the high end of guidance, with no significant negative impact from macroeconomic or tariff issues. He also pointed to AWS margins that reached an all-time high. Rosenblatt analyst Barton Crockett labelled Amazon’s first-quarter as “on the steady side of OK,” but flagged the potential for impacts from tariffs which “could start hitting soon.” RBC Captial Markets analyst Brad Erickson also highlighted the growth in AWS backlog and expects acceleration in the second half of the year. Year to date (YTD), Amazon fell about 17.11%, vs. the ProShares Online Retail ETF (NYSE:ONLN), which declined about 4.70% over the same time frame.Meta Platforms, Inc. (NASDAQ:META): According to the 13F filings released on Feb. ...Full story available on Benzinga.com