Diamonds and Dogs

11/1/24

Amazon is leading the charge today up 6% thanks to strong earnings from cloud and advertising businesses. Amazon's cloud and AWS business saw profitability rise 19%, affirming their cloud dominance and resilience. Amazon's holiday forecast is ambitious with revenue in the range of $181.5 billion to $188.5 billion with operating income between $16 billion and $20 billion. Happy Holidays.

Estee Lauder (EL) had a tough week. The high-end cosmetic retailer fell 3% today and down 24% on the week following lackluster earnings with weak double digit sales declines in China, a major market for them. Estee Lauder slashed their dividend 47% to preserve cash and wait for a turnaround.

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