2.99 million. That's how many Netflix shares billionaire investor Carl Icahn sold this month, more than half his stake. Icahn said he was sitting on a 457 percent gain and it was time to take some of his chips off the table. His son, Brett Icahn, and fund co-manager David Schechter disagreed with that view. They say the company is "significantly undervalued" and revised their performance contracts to reflect subsequent gains or losses on the shares.
Microsoft 's Q1 earnings weren't expected to be positive, but the news for Microsoft shareholders was better than most expected. The company reported a first-quarter profit of $5.24 billion, which amounts to 62 cents per share, with revenue of $18.53 billion. By contrast, in Q1 last year Microsoft reported a $4.7 billion profit and revenue of $16 million, which was 53 cents her share. Analysts had predicted the Q1 earnings to be 54 cents per share and a revenue of about 11%, or $17.8 billion. The better-than-expected results sent the companies shares to $35.79 in after-hours trading.
From what once was a simple tradition of children trick-or-treating for a pumpkin full of confectionary delights wearing their favorite ghoulish costumes, Halloween has exploded into a multi-billion-dollar, global, annual celebration for all ages, surpassing every holiday except Christmas. The Halloween industry has grown 100% in the past ten years in the U.S. alone. According to the National Retail Federation, around 158 million Americans will be partaking in the frenzy this year, slightly down from last year's peak of 170 million, with a total spending on festivities to reach $6.9 billion.
Amazon.com reported another quarterly net loss, but better-than-expected sales on Thursday as the company expands aggressively into overseas markets. The world's largest retailer posted revenue of $17.1 billion in the third quarter, up from $13.8 billion a year earlier. Analysts had expected it to post sales of $16.8 billion on average.