Third Point (Dan Loeb) discloses updated portfolio positions in 13F filing

New AMZN OPCH FIS UBER TSM ICE positions, Exited CL NATI

Highlights from Q2 2023 filing as compared to Q1 2023:

• New positions in: AMZN (~4.1 mln shares), OPCH (~3.5 mln), FIS (~0.3 mln), UBER (~2.78 mln), TSM (~2.45 mln), ICE (~1.85 mln), ATVI (~1.65 mln), HZNP (~0.5 mln), NVDA (~0.5 mln), BKI (~0.46 mln)
• Increased positions in: BABA (to ~2.95 mln shares from ~1.33 mln shares), DEN (to ~1.68 mln from ~0.25 mln), VST (to ~3.32 mln from ~2.12 mln), J (to ~1.35 mln from ~0.19 mln), HTZ (to ~7.32 mln from ~6.35 mln), DD (to ~4.6 mln from ~4 mln), MSFT (to ~1.52 mln from ~1.05 mln) MU (to ~1.55 mln from ~1.2 mln), AMD (to ~1.2 mln from ~1 mln) IFF (to ~2.65 mln from ~2.55 mln)
• Maintained positions in: BBWI (~13.85 mln shares), AIG (~2.95 mln shares), FERG (~1.28 mln shares)
• Closed positions in: CL (from ~11.05 mln shares) NATI (from ~2 mln), NPWR (from ~1.5 mln), TECK (from ~1.15 mln), CTLT (from ~0.2 mln), HCNE (from ~0.99 mln), CRM (from ~0.8 mln), UNH (from ~0.34 mln)
• Decreased positions in: PCG (to ~54 mln shares from ~59.25 mln shares), GOOGL (to ~1.43 mln from ~4.75 mln), HCA (to ~0.6 mln from ~0.86 mln), EGGF (to ~0.95 mln from ~1.1 mln), DHR (to ~2.6 mln from ~2.75 mln)

BlackBerry (BB) teams up with Amazon Web Services to manage vehicle sensor data

• Having long ago moved on from its once-iconic mobile phones, BlackBerry (ticker: BB) Tuesday morning announced a deal with Amazon.com’s (AMZN) Amazon Web Services to jointly develop and market Ivy, which BlackBerry describes as “a scalable, cloud-connected software platform that will allow automakers to provide a consistent and secure way to read vehicle sensor data.

** BB ** 

 

The BlackBerry IVY system is a scalable software platform with deep roots on AWS cloud computing services. This vehicle data platform provides consistent and secure methods for gathering vehicle sensor information, packaging it into a normalized format, and preparing the data blobs for real-time analysis running on the car's own processors as well as deeper dives through AWS-based cloud computing services.

BlackBerry's role in this partnership consists of using machine learning tools to collect and normalize data from thousands of parts made by dozens of different manufacturers. In many cases, there are no industry standards available, and BlackBerry IVY will need to build its own data-access models for every undocumented sensor. Amazon's high-powered AWS systems will provide number-crunching muscle on the cloud-based side of the data analysis, augmented by direct access to the vehicle's embedded processing systems.

Amazon (AMZN) launches digital pharmacy

• That launch has been expected for some time, although the exact timing was uncertain. Well, that time has arrived, as Amazon's pharmacy services are now available in 45 states, with the other five states expected to be added in the future.
• This expansion puts the e-commerce company into more direct competition with pharmacy giants, such as CVS and Walgreens Boots.

 

 

(Bloomberg)—Amazon.com Inc. unveiled its biggest push into selling prescription drugs with the launch of a digital pharmacy and discounts for paying U.S. Prime members that sent shock waves through shares of drugstore chains and distributors.

The e-commerce giant on Tuesday unveiled Amazon Pharmacy, a section of its retail website and mobile application that lets people order medication. Shoppers can pay using their health insurance. Prime members who don’t use their insurance are eligible for discounts on generic and brand-name drugs on Amazon’s site or at about 50,000 participating pharmacies.

Amazon’s new offering comes more than two years after its $753 million acquisition of PillPack, an online pharmacy known for organizing prescriptions into packets. This expansion puts the Seattle-based e-commerce company into more direct competition with pharmacy giants CVS Health Corp. and Walgreens Boots Alliance Inc., the two largest chains in the U.S.

The move also helps Amazon compete with Walmart Inc. and other big-box stores that already sell prescription drugs.

Analysts have long expected Amazon to dive deeper into health care in a bet the company can bring its digital real estate and logistical prowess to bear on a roughly $4 trillion industry in the U.S. with a reputation for inefficiency. The company rattled drug retailers with its PillPack acquisition, but Amazon has been slow to integrate the online pharmacy startup into its offerings.

The announcement Tuesday marks the first time that shoppers can order prescription drugs directly on Amazon. Previously, they were redirected to PillPack’s website. An integrated pharmacy removes one of the few gaps in Amazon’s offerings compared with major big box and grocery rivals, some of whom have long filled shoppers’ prescriptions in the same stores where they sold flat-screen televisions or cans of soup.

The discounts are a clear play for people who pay for their medications with cash, whether they are uninsured or are looking to save money. Strong demand for transparency and better deals have helped fuel the rise of discount card programs like GoodRx Holdings Inc. Amazon will display both the price when using insurance and the price without. Infusing transparency into a system that has been frustratingly opaque for consumers could alter the supply chain.

Amazon’s entry into a market doesn’t guarantee its dominance. Drugstores have long insisted that patients prefer to talk to their pharmacist at the counter, an experience Amazon will try to recreate digitally.

Amazon Chief Executive Officer Jeff Bezos has positioned Prime, Amazon’s paid membership program, at the center of the company’s efforts to create loyal customers. What was originally an unlimited shipping program has grown in recent years to include video streaming, games and digital storage, and discounts at Amazon-owned Whole Foods Market.

Appaloosa Management : top 5 buys in the 4th quarter

David Tepper, founder of Appaloosa Management, disclosed last week that his fund's top five buys during the fourth quarter of 2019 included a new holding in Intelsat SA (NYSE:I) and position boosts in four companies: Alibaba Group Holding Ltd. (NYSE:BABA), Micron Technology (NASDAQ:MU), Energy Transfer LP (NYSE:ET) and Amazon.com Inc. (NASDAQ:AMZN).

A distressed debt specialist, Tepper became interested in the stock market as a young boy watching his father trade stocks in his hometown of Pittsburgh. The Appaloosa fund manger has since earned international reputation for producing some of the highest returns among fund managers on Wall Street.

According to CNBC sources, Tepper announced in May 2019 that he plans to convert Appaloosa into a family office so that he can concentrate on managing the Carolina Panthers NFL football franchise, which he purchased for over $2.27 billion in 2018. As of December 2019, the $3.94 billion equity portfolio contains 22 stocks, with turnover of 13%. The top three sectors in terms of portfolio weight are communication services, consumer cyclical and technology, with weights of 31.53%, 30.05% and 17.39%.

New buy: Intelsat

Appaloosa purchased 2,885,019 shares of Intelsat, giving the stake 0.51% weight in the equity portfolio. Shares averaged $15.33 during the quarter.

The Luxembourg-based telecom company provides diversified communication services to media companies, fixed and wireless telecom operators and data networking service providers. According to GuruFocus, Intelsat's interest coverage and debt ratios underperform over 90% of global competitors, suggesting low financial strength.

Charts 6 months later: 

• Intelsat SA (NYSE:I) is trading over the counter

https://finviz.com/screener.ashx?v=211&t=I,BABA,MU,ET,AMZN&ta=0&p=w&o=-change

-=Amazon.com (AMZN) eliminates its $14.99 monthly fee for grocery delivery to Amazon Prime members

The shares of some grocery sellers fell Tuesday, in the wake of Amazon.com Inc.'s (AMZN) announcement that it was eliminating its $14.99 monthly fee for grocery delivery to Amazon Prime members.

Kroger Co. (KR) dropped 1.4%, after closing Monday at a 4-week high.
Sprouts Farmers Market (SFM, -1.38% fell 0.6%, Target Corp. TGT, -0.98% slipped 0.2% and Walmart Inc. WMT, -1.07% lost 0.4%, while Costco Wholesale Corp. COST, -0.22% inched up less than 0.1%. Amazon shares eased 0.2%.

AMZN,KR,SFM,TGT,COST,WMT

=Amazon (AMZN) reported earnings on Thur 24 Oct 19 (a/h)

Amazon misses by $0.26, beats operating income and revs; guides Q4 profit and rev below consensus 

Reports Q3 (Sep) earnings of $4.23 per share, $0.26 worse than the S&P Capital IQ Consensus of $4.49; revenues rose 23.7% year/year to $69.98 bln vs the $68.72 bln S&P Capital IQ Consensus and $66-70 bln guidance; operating income -15% to $3.2 bln vs. $3 bln est and 2.1-3.1 bln.

AWS revenue +35% to $9 bln; operating margin -600 bps to 25.1%.

NA segment rev +24%, Int'l +18%, online stores +22%, 3P services +28%, subscription services +35%, Other (advertising) +45%.

Co issues downside guidance for Q4, sees Q4 revs of $80.0-86.5 bln vs. $87.17 bln S&P Capital IQ Consensus; operating income $1.2-2.9 bln vs. $4.18 bln consensus. 

=Amazon (AMZN) reported earnings on Thur 25 Oct 2018 (a/h)

Amazon beats by $2.66, reports revs in-line; guides Q4 profit and revs below consensus 

• Reports Q3 (Sep) earnings of $5.75 per share, $2.66 better than the S&P Capital IQ Consensus of $3.09; revenues rose 29.3% year/year to $56.58 bln vs the $57.03 bln S&P Capital IQ Consensus; operating income $3.7 bln vs. $2.17 bln ests and $1.4-2.4B guidance
  • AWS sales +46% to $6.68 bln; income +77% to $2.1 bln
  • Online sales +11% to $29.1 bln
  • 3P seller services +32% to $10.4 bln
  • Sub services +46% to $6.7 bln
  • Ad (other) +123% to $2.5 bln.
• Co issues downside guidance for Q4, sees Q4 revs of $66.5-72.5 bln vs. $73.78 bln S&P Capital IQ Consensus; operating income $2.1-3.6 bln vs. $3.89 bln ests

-=Amazon (AMZN) : Prime Day surpassed Cyber Monday, Black Friday

Amazon says sales Prime Day surpassed Cyber Monday, Black Friday and the previous Prime Day 
Prime members worldwide purchased more than 100 million products during this year's Prime Day event. Best-sellers worldwide were the Fire TV Stick with Alexa Voice Remote and Echo Dot -- making this, with 12-hour early access to device deals, the biggest event ever for Amazon devices. For the first time, U.S. Prime members celebrated Prime Day with a week of savings at Whole Foods Market. Members saved millions of dollars at Whole Foods Market with Prime Day deals, of which the best-selling deal was organic strawberries. Small and medium-sized businesses selling on Amazon far exceeded $1 billion in sales this Prime Day.

-====Amazon (AMZN) to acquire PillPack

PillPack is a pharmacy designed to provide the best possible customer experience in the U.S. for people who take multiple daily prescriptions. PillPack delivers medications in pre-sorted dose packaging, coordinates refills and renewals, and makes sure shipments are sent on time. The parties expect to close the transaction during the second half of 2018.

• McKesson (MCK) hit a 52-week low despite guiding Q1 EPS above consensus and reaffirming FY19 EPS guidance this morning.
• Drug distributor peers: Cardinal Health (CAH -8%) and AmerisourceBergen (ABC -7%) are also getting hit hard
• Drug stores: RAD-11.62% CVS-9.26% WBA-9.34%
• Insurers: CI-3.41% AET-2.68% ANTM-2.22% UNH-2.01% HUM-1.52% WCG-1.02% CNC-0.91% MOH-0.91%

•  A small but significant step into the U.S. healthcare sector, sending shares of drug distributors and retailers lower.
• CVS Health (CVS 64.40, -5.65, -8.1%), Walgreens Boots Alliance (WBA 60.10, -6.16, -9.3%), and other drug distributors have sold off sharply after Amazon (AMZN 1664.00, +3.49, +0.2%) unveiled a deal to acquire online pharmacy PillPack.
• Shares of drug wholesalers McKesson Corp (MCK.N), Cardinal Health (CAH.N) and AmerisourceBergen (ABC.N) also fell sharply. Pharmacy benefit manager Express Scripts (ESRX.O) was also lower.
• The purchase follows the announcement in January that Amazon, Berkshire Hathaway Inc (BRKa.N) and JPMorgan Chase & Co (JPM) were forming a joint venture to tackle rising U.S. healthcare costs. The three companies said they would use big-data analysis and other high-tech tools to improve care and cut waste.
• PillPack, which also serves patients with multiple chronic conditions, is authorized to deliver in 49 states.
• The company had attracted interest from Walmart Inc (WMT.N), which was looking to buy it for under $1 billion, CNBC had reported in April. The PillPack deal is expected to close during the second half of 2018.

=Amazon (AMZN), Berkshire Hathaway (BRK.A/BRK.B) and JPMorgan Chase (JPM) partner to form healthcare company

Warren Buffett, Jeff Bezos and Jamie Dimon of JPMorgan Chase are launching an independent tech-focused healthcare company for all of their US employees

• Buffett, 87, said the initiative would be technology focused and will aim to serve the three companies' employees
• Jamie Dimon, JPMorgan's President and CEO, said it could eventually serve 'all Americans' 
• The announcement coincided with the continued fall of healthcare company stock prices  
• Health care providers like UnitedHealth (UNH), Aetna (AET), and Anthem (ANTM), and drug retailers like CVS Health (CVS) and Walgreens Boot Alliance (WBA) plummet

Amazon, Berkshire Hathaway (BRK.A/BRK.B) and JPMorgan Chase (JPM) partner to form healthcare company 

The co's announced that they are partnering on ways to address healthcare for their U.S. employees, with the aim of improving employee satisfaction and reducing costs. The three companies, which bring their scale and complementary expertise to this long-term effort, will pursue this objective through an independent company that is free from profit-making incentives and constraints. The initial focus of the new company will be on technology solutions that will provide U.S. employees and their families with simplified, high-quality and transparent healthcare at a reasonable cost.

• The effort announced today is in its early planning stages, with the initial formation of the company jointly spearheaded by Todd Combs, an investment officer of Berkshire Hathaway; Marvelle Sullivan Berchtold, a Managing Director of JPMorgan Chase; and Beth Galetti, a Senior Vice President at Amazon. The longer-term management team, headquarters location and key operational details will be communicated in due course. 

=Amazon (AMZN) reported earnings on Thur 26 Oct 2017 (a/h)

Amazon beats by $0.53, beats on revs; guides Q4 revs in-line 

• Reports Q3 (Sep) earnings of $0.52 per share, $0.53 better than the Capital IQ Consensus of ($0.01); revenues rose 33.7% year/year to $43.74 bln vs the $42.26 bln Capital IQ Consensus. Net sales includes $1.3 billion from Whole Foods Market, which Amazon acquired on August 28, 2017. Excluding Whole Foods Market and the $124 million favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 29% compared with third quarter 2016.
  • NA net sales +34% to $18.9 bln; OI $255 mln
  • Int'l net sales +29% to $10.6 bln; OI ($541) mln
  • AWS sales +42% ; OI +36% to $1.17 bln
• Operating income decreased 40% to $347 mln vs. ($400)-300 mln guidance, compared with operating income of $575 million in third quarter 2016. Operating income includes income of $21 million from Whole Foods Market.
• Co issues in-line guidancefor Q4, sees Q4 revs of +28-38% to ~$56.0-60.5 bln vs. $58.92 bln Capital IQ Consensus. This guidance includes ~1,000 basis points of impact to our year-over-year growth rate from Whole Foods Market. This guidance also anticipates a favorable impact of ~$1.2 billion or 270 basis points from foreign exchange rates. Operating income is expected to be between $300 million and $1.65 bln vs. $1.64 bln ests, compared with $1.3 billion in fourth quarter 2016.
• "In the last month alone, we've launched five new Alexa-enabled devices, introduced Alexa in India, announced integration with BMW, surpassed 25,000 skills, integrated Alexa with Sonos speakers, taught Alexa to distinguish between two voices, and more. Because Alexa's brain is in the AWS cloud, her new abilities are available to all Echo customers, not just those who buy a new device," said Jeff Bezos, Amazon founder and CEO. "And it's working - customers have purchased tens of millions of Alexa-enabled devices, given Echo devices over 100,000 5-star reviews, and active customers are up more than 5x since the same time last year. With thousands of developers and hardware makers building new Alexa skills and devices, the Alexa experience will continue to get even better." 

=Sears (SHLD) to sell Kenmore appliances via Amazon (AMZN)

• Other appliance-seller stocks: LOW, HD
• Whirlpool (WHR), which makes appliances under the Whirlpool and Maytag brands, was also slammed, but the company also makes some appliances under the Kenmore brand.

Sears Holdings (SHLD) announced that it is selling Kenmore appliances via Amazon (AMZN), including Alexa-enabled smart appliances.

"This marks the broadest distribution of Kenmore, America's most trusted home appliance brand, outside of Sears branded stores and related online retail platforms," the company said in a statement.

Kenmore Smart connected room air conditioners integrated with Alexa are now available, with plans to expand the full product line onto Amazon. Kenmore, Sears Home Services and Innovel Solutions will provide delivery, installation, and other extended warranties.

The Sears-Amazon deal follows news late last month that athletic apparel giant Nike (NKE) would sell directly on Amazon's site.

Footwear retailers & Amazon

 Footwear retailers drop on the whisper of Nike selling directly on Amazon.

=Amazon (AMZN) reported earnings on Thur 2 Feb 2017 (a/h)

Amazon beats by $0.12, misses on revs; guides Q1 below consensus :

• Reports Q4 (Dec) earnings of $1.54 per share, $0.12 better than the Capital IQ Consensus of $1.42; revenues rose 22.4% year/year to $43.74 bln vs the $44.69 bln Capital IQ Consensus.
  • NA sales +22% to $26.24 bln; operating income +28% to $816 mln
  • AWS slaes +47% to $3.53 bln; operating income +60% to $926 mln.
• Co issues downside guidance for Q1:
  • Sees Q1 revs of $33.25-35.75 bln vs. $36 bln Capital IQ Consensus, or to grow between 14% and 23% compared with first quarter 2016. This guidance anticipates an unfavorable impact of ~$730 million or 250 basis points from foreign exchange rates.
  • Operating income is expected to be between $250 million and $900 mln vs. ests near $, compared with $1.1 billion in first quarter 2016.
• "Prime members can now choose from over 50 million items with free two-day shipping - up 73% since 2015. Prime Video is now available in more than 200 countries and territories. Prime Now added 18 new cities, which means millions more members now get one and two hour delivery. New benefits were also added to the list, like Prime Reading, Audible Channels for Prime, Twitch Prime and more. And customers noticed - tens of millions of new paid members joined the program in just this past year."

=Amazon (AMZN) reported earnings on Thur 27 Oct 2016 (a/h)

Amazon misses by $0.30, reports revs in-line; guides Q4 revs in-line :

• Reports Q3 (Sep) earnings of $0.52 per share, $0.30 worse than the Capital IQ Consensus of $0.82; revenues rose 29.0% year/year to $32.71 bln vs the $32.65 bln Capital IQ Consensus; operating income $575 mln vs. $50-650 mln guidance and $670 mln estimates.
  • NA net sales +26% to $18.9 bln; GAAP operating income 37% to $255 mln
  • Int'l net sales 28% to $10.6 bln; GAAP OI ($541) mln.
  • AWS net sales +54.5% to $3.2 bln; GAAP operating income +101% to $861 mln. 
• Co issues in-line guidance for Q4, sees Q4 revs of $42.0-45.5 bln vs. $44.65 bln Capital IQ Consensus. Operating income is expected to be between $0 and $1.25 billion, below estimates, vs. $1.1 billion in fourth quarter 2015.

====Great trade : AMZN +7% (9/16)

• 9/16/16:  #15, 72, 76

-=Amazon (AMZN) reported Q1 earnings on Thur 28 Apr 2016 (a/h)

The company yesterday afternoon easily topped Q1 revenue and profit estimates, and forecast this quarter’s revenue as much as $2 billion higher than the Street’s average estimate.

The Street loves just about everything about this quarter, and the 9% drop in the stock back in January, following a disappointing Q4, seems pretty much forgotten.

The company’s cloud computing story, often the bright spot, delivered rising profit, along with 64% sales growth. But other parts of the story also worked for the Street, including the company’s “Prime” membership plan, which is both luring sellers and driving gross merchandise volume, which brings in more sellers, a kind of virtuous cycle the Street loves.

Amazon (AMZN) reported 4Q earnings on Thur 28 Jan 2016 (a/h)

** charts before earnings **

 

** charts after earnings **

 

** 5 days later  **

Amazon reports operating income below estimates, near the high end of guidance, reports revs in-line; guides Q1 in-line :

• Reports Q4 (Dec) earnings of $1.00 per share, $0.58 worse than the Capital IQ Consensus of $1.58; revenues rose 21.9% year/year to $35.75 bln vs the $35.98 bln Capital IQ Consensus and $33.5-36.75 bln; operating income $1.1 bln vs ~$1250 mln estimates and $80-1280 mln guidance.
  • North America retail operating income +37% to $1 bln, sales +24% to $21.5 bln.
  • AWS operating income +186% to $687 mln; rev +69% to $2.4 bln.
• Co issues in-line guidance for Q1, sees Q1 revs of $26.5-29.0 bln vs. $27.72 bln Capital IQ Consensus; operating income $100-700 mln vs ~$650 mln estimates.  

AMZN — is it a buy?

•  Jan 19: Is AMZN a buy?

• 3 days later (Jan 22)

• 6 days later, after earnings (Jan 29)

 

Amazon (AMZN) reported earnings on Thur 22 Oct 2015 (after close)

** charts before earnings **

** charts after earnings **