Amazon revenue +13% to $143.1B in Q3, as margins improve in all segments
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Top stories today:
- Amazon revenue +13% to $143.1B in Q3, margins improve
- SBF gives vague testimony without jury present
- GDP +4.9% in Q3, better than 4.3% expected
- OpenAI announces team to counter bio, nuclear threats
- Israel: U.S. conducts 2 strikes in Syria, no ground invasion yet
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).
All times are ET.
1. Amazon revenue +13% to $143.1B in Q3, as margins improve in all segments
Operating income jumped +4.4x to $11.2B, as margins improved overall
AWS revenue growth has stabilized at 12%
The stock is +5% in the pre-market
2. SBF gives vague testimony without jury present; judge to rule on jury testimony today
Court sketch drawing of Bankman-Fried testifying on Oct. 26.
Judge Kaplan wanted to hear SBF's testimony first himself, before ruling on what was admissible.
“Interesting way of responding to questions:” how the judge described Bankman-Fried.
SBF was evasive, saying lawyers had approved most of his decisions, and casting blame on FTX's former chief regulatory officer Dan Friedberg. - Bloomberg's live feed
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4. GDP +4.9% in Q3, better than 4.3% expected
GDP price index: 3.5% QoQ, vs. 2.5% expected, from 1.7% in the previous quarter. - BEA
5. OpenAI announces preparedness team to counter “chemical, biological, radiological, nuclear” threats
6. Israel: U.S. conducts 2 strikes in Syria as Israeli cabinet remains divided on ground invasion
U.S. conducts 2 strikes in eastern Syria facilities linked to Iran.
“Targeted raids” conducted for 2nd night: IDF.
Israeli cabinet divided over how, whether to conduct Gaza invasion.
Hamas: hostages won't be released before ceasefire.
Iran: Hamas ready to exchange 200 civilian hostages for 6K prisoners.
Threatens U.S.: “will not be spared from these fires” if war continues.
House to consider $14.5B Israeli aid bill separately from Ukraine's.
900 U.S. troops being deployed to Middle East (not Israel).
9 Arab countries condemn Israel's attacks on Gaza.
Qatar, U.S. agree to revisit Qatar's relationship with Hamas.
Qatar sentences 8 Indians to deaths, on charges of spying for Israel.
DeSantis: we are sending drones, weapons, ammunition to Israel.
7. Anduril, Shield AI have optimistic growth projections, helping encourage defense VC
8. Disney Parks raise prices, offering luxury packages, increasing per-capita spending by 40% vs. pre-pandemic
9. How Taylor Swift $1B fortune is spread out
10. Interesting videos, posts, and memes
11. Other headlines
X will challenge Youtube, LinkedIn: Elon to staff.
Huawei revenue +2% to $62.3B YTD.
Uber testing self-driving Waymo cars in Phoenix.
Cruise pauses all driverless robotaxis to “rebuild public trust.”
WeWork creditors SoftBank, King St. fight for control, bankruptcy in Nov.?
Intel revenue -8% to $14.2B in Q3, as adj. gross margin expands to 45.8%.
Apple's Journal app available on iOS 17.2 Beta.
Tesla raises Model Y's price in China by $2K, after series of cuts.
Ford postpones $12B EV investment as customers not willing to pay premium.
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Tech & law
Rep. Dean Phillips (D-MN) to challenge Biden in run for president.
Navy's 12 new ICBM subs to cost $120B, from $100B original budget.
Trump: prosecutors move against efforts to extend gag order pause.
Blake Masters announces House run in AZ-8, after losing Senate race in 2022.
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