Word on the Street

" My name is fast money I'm -- especially bloody diet that's funny thing is accessed at back on that. The Dow constant press of late day rally to read complaints. That all important 10000 market back after. I think he's got started going to -- the fifth straight to those numbers right now guys up by many accounts. A very good Porter Graham is on the gross margins are pretty much in line it was a -- on the top line and bottom line though that are out powering shares higher in the after Erica yeah he's he's -- very closely when you make."

" I do I think there's anyone -- metric that actually sticks out that international revenue growth coming up 33% impressive numbers across the board then you look at the -- under the guidance. Is just off the charts gives you some idea that eat as much as we read and those numbers yesterday. The one missing element may have been how much missing they're getting right now on how much we're hitting on all cylinders and --"

" Not right now jogging. -- you would've thought about three stocks that we're going to talk about Capital One American Express Amazon which one do you want to own going forward you want to own America you want on Amazon clearly want to own Amazon. Because of e-commerce growth e-commerce growth in 200910%. Who's getting the market share not -- day it's going to Amazon."

" We shouldn't have that's how we are monitoring the conference call as we go but -- take a look at some of the numbers that we have been. A looking behind the numbers of your earnings release that is beyond the top of the -- we're focusing in on what my analysts friends out there focusing on a a gross margins the actual came in at 23 point -- which has pretty much. Right in line which is great news for the third -- the question is for the fourth quarter can they hold out on especially if there waiting all sorts of book wars Kindle wars with this looming competition Barnes & Noble -- and you know look. But the VATICAN he's -- nobody looked at a Ben and."

" So we know the top -- can be pretty good in fact mark -- was one that I'm Doug Robinson in the more boast and of those expectations that the trade on the stock -- looks pretty simple here in the stock and rested around 9330 sit on its twenty day it's traded technically very well there expense report there this thing obviously up 10% or so after hours and I think. You really have a new paradigm move this thing so in other words it bounced up to twenty I think anything's going to take itself I think the trade you can hold onto because and back right not into the fourth -- and I think the."

" The most difficult thing when you look at Amazon and it's been something. I've been here for a long time -- just looking at the theme multiple let me -- scares off all of a sudden you look at what their actual earnings argue look where the stock is traded. And everybody gets a little hats and it hasn't worked with Scott continue to go higher RBC put 120 price target on you'll look at some of the rest of the numbers on the street everybody. Going into the yearnings there was so excited going in any earnings this week we saw multiple upgrades of the stock as well as the upgrades -- the price target so. The street clearly is able to digest that -- you know what despite EPS as at this level the."

" The phone or PS 55 and an environment where they must compete on books -- this isn't -- commentary that I read -- today and that is that Wal-Mart for Wal-Mart the exercise business they can afford to go down 899 for Amazon this is a core business of bears so for them to. Give up that margin on one of their core businesses could be dangerous Karen is a stock that's up might interest you at 5510."

" If -- Irish I guess all the delegate decides he's definitely not 65 times when they're hitting on all cylinders that's very hard for me to you know jump on that train. For someone who is really having trouble and you could see -- earnings could turn around and grow dramatically. That this revenue -- this earnings. Big announcement is great but I just cannot get on board here the one thing about the Kindle -- They do show and I believe it people who by the Kindle. Why weighed more books two or three times as many books -- forget the actual vote went from two point seven to three point seven times as many books. So that will help Amazon because the delivery cost of that extra book is near zero. So maybe they make it up there but I can't get up toward."

" I mean certainly they are gaining market share let's look tactically -- inside the numbers what do you have ahead you. You how to hide from October of 2007 that sits at 10109. Okay we're going to take that out we're taking that out right now what's next. 113. That goes back to February of 1999. So Amazon is clearly is right now they. One to -- it is certainly going to take out some historical high levels in the next few days."

" in the after hour session it did hit AF 52 week high at least if not historic -- probably not historic high but we'll check on that for you -- meantime. Let's take a check on the Q just while -- it. To see if Amazon as having any sort of impact today the NASDAQ managed to turn -- of its own in today's session finished higher by a seven tenths of a percent we are seeing. A pretty steady trade here but maybe that is worth noting that. The Amazon uses in not to kind of sustain the NASDAQ at these current levels. -- meantime let's move on in the after hour session look keep track and Amazon as I understand the conference call is getting underway. As we speak up to take a look at Capital One Financial in the after hours session it was a -- quarter for Capital One Financial 94 cents verses the fourteen cent as cement. On the revenues also beating you see the stock there at least surging in the after hours action credit card names have been on fire going."

" Into this earnings period ahead and this in this name in particular completely defies logic when you think of Capital One I think of something that I actually wanna -- be short against something -- credit card delinquencies in the third quarter there about five point 4% that's actually higher than they -- in the spring so the fact that it actually defies the fundamental logic out there is one of the reasons why the stock is -- higher and that actually seeing some strong earnings you mentioned -- are high short interest in this stop we know that may be one of the reasons -- that you -- county I'm talking about just before ten 45% out of."

" We thought it was much higher on the back to great question dogging this is a minute in the past was above 20% in the short interest. We take a look at how we see it only 4% -- this is not a short squeeze going on right now in the late -- alluded to some of the numbers going in from the master trust data last week frank you really question act capital want everybody else you'd be doing well they seem to be having problems that the delinquency cited some of the bad loans. Yes this is the number that they put up absolutely incredible this is why you cannot fight the tape."

" Right absolutely and also let's check on American Express -- added in some sort of credit card around in the after hours session we are. -- watching the stock -- move higher as that NASA had alluded to in the closing bell before there was a little bit of confusion about the actual number is 44 cents compared to 38 cent estimate so still upbeat there on the revenue side that was also -- six point Turkey versus. Five point 90000000009. Dollars can what do you make of these numbers."

" Khalilzad behind this stock was up going into on the hopes that there would be decent earnings they're decent they got his ties to talk with -- decent earnings but I think one thing to point out as if to consumers getting better and you start to see data from Capital One and American Express. If that's happening that's good for BankAmerica they have a huge consumer book. Also good for JPMorgan as well. And an --"

" ended that the top side of the line wasn't so great but it's about fewer loans. Gone bad and fewer delinquencies in the first guys it really in this cycle on the credit cards that have reported that. The thing I I get worried about American Express that look at consumer credit we talked about we've got this number coming out about a week. That a 120 billion dollars in consumer credit taken out of the next American Express has been the first to pull the plug on a lot of people up on a lot of guys. Who told me that you know yesterday I was out make up my card up these guys look. Don't have great credit ratings. Yeah I'm on the bottom line is is that being -- may have been very vigilant about cutting back credit that worries me a little bit as things start to turn out of this I think."

" I think actually the model for American Express is working well that was one of the -- leaders this year the Dow Industrials themselves. But it also is the portfolio includes the affluent customer. Basically the people out there making more than 200000 dollars a year. If you look at the purchases. On American Express it's up where about 9300 boxes the average purchase versus a visa or MasterCard we're talking 222500. Also. The affluent customers -- after American Express and I think that's why the stock has had such resilience as."

" Same time American Express doesn't have a debit card component in if I were a believer that the credit out there is little bit tighter or friends like --"

" Outside of that I mean just money Friedman Billings Ramsey came out and they raised the target what -- those targets they put a forty dollar target now Capital One trading over that -- 42. 37 dollar target which is. A ball high for the year that's exactly where American Express and unicorn across I believe still around 37 absolutely incredible I mean. There's going to probably have to reassess again now after visiting his earnings report. Thinking they had a clear vision just last week and now they look at some of these numbers they've got to be oppressed -- one thing about American Express the revenues were down 16% I don't think the other -- the right economic but those revenues being down on the some of the names that we got very excited about have been on revenues that have accelerated. It this past quarter this is not that this is actually pulling back beating estimates but nonetheless."

" April we leave American Express let's go behind the numbers on this one as well we Moshe -- about on yesterday and he's in the numbers he told us to key in on and these members have come and better than expected so it's not Jessie PS the revenue side that we're watching growth in total build up business. Actual number was decline of 11% he is expecting a decline of thirteen the charge offs -- that better than what he'd expected as well -- American Express seeming to beat. Analysts estimate on many fronts here -- what you're you're doing this Joe I."

" Five but explain explain it. -- earnings the landlords real earnings reports Americans."

" Capital One Amazon you look at all three of them you look at the potential growth. That to me it's all about Amazon all about Amazon that's the name going full would you could see the growth going into two got --"

" We're you gotta have that hesitancy to look at that and look at happy and I know that's not having Karen looks at and I think all of us can look at it at some point and say. It's a top -- At this point I'm not saying you're wrong but it is -- very -- I would you look at 55 happy right now we can look at other areas maybe find it to that actually the top despise the usually the correct buys the artist who don't are. --"

" I've talked about Mercado liber which is a two billion dollar company down in Argentina which really is in Black America is that was on May -- you can laugh why you want yeah."

" Okay. Yeah."

" However this is the stuff that we are -- comes is trading at about eighty times earnings and I don't care about I have. And meanwhile it's a very big company it is exposed the Latin American growth but the but the module Larry I'm telling you that is if not chilly night."

" So they not at all and I'm. I thought. We should note that before live on Amazon short interest has been declining at the stock has been climbing. So it's interesting note there's five point 7% right now so there -- you know their shorts out there."

" But at the number I did go back to the Jared and way of -- right it's cheaper and off the vick's look at where it is right now. You can buy the protection if you want to go and buy the stock could also by the protects its same time yeah."

" Yeah let's move onto talk about the market today because you get -- fat cats back out and a ten K and I think what's -- Yeah that's what I'm talking I had been we have we had a late date turn and they turn in the financials -- you're watching this day he saw the financials turn at about 1:30 years at 2 o'clock or so -- coincidentally wit. Buildup please comment."

" I guess it was filled at least comments -- like you're actually that he was saying that this you know the Fed can start to. Move out I guess exiting some programs and that they're not going to lose money got a lot of that I think was important. In this dot that's surprising I think of the ones that they weren't going to lose money they've already seen those -- we've seen. Big big declines across the board in various programs that they've had to entered the commercial paper one end. The money market funds and so this is good news but it's not so surprising I I am kind of surprised the market use that as an excuse to rally the financial."

" Although when you look at the -- we're talk about -- in this fighters one point four million contracts just the other day in the puts the loan so there is some protections put in place. And we -- they had the S&P then you look at Goldman -- in positive territory. It had an easy question we talk about the canary all the time. Goldman Sachs turned it was already popped -- then I just heard rushed to the upside that yes -- down. Five point. I'm not talking about later in the afternoon later in the afternoon Goldman Sachs sort of slowed a little bit but that Morgan Stanley the financials. And Wells Fargo whether or not it was Dick -- late yesterday or not. Something turn that stock the stock got crushed yesterday today but over thirty."

" Seems like a half hearted excuse model why aren't financial but that we didn't touch and as well that we should -- and see absolutely without actually they just Crested a mean a lot of good things coming out PNC dominate. The loan loss reserve side the integration with that's right he seemed to be going better than expected credit quality deterioration slowing in the worrying what I know how -- deposit."

" Live at yes all of that all fast food and all that out before the ballot then we have this half hearted excuse it was. Bill -- all comments are rallying late in the day I mean yesterday it would vote bank and the reason this out I."

" mark just seems about the mark to market. With financial I think it's still focused on the credit side and to the extent we got surprises on the credits at PNC again. No delinquencies are there are following the fact that net interest margins are also rising immediately that there -- effectively landing at higher rates than a barn. That they're giving -- consumers on their deposits that's very good news. It's interesting because we came in today the dollar was stronger because talk was about interest rates going up that's plot -- and -- that they could go up faster China mentioned it last night a ton of GDP of data including GDP added that at out of China where they pointed out that rates. And they didn't say that they said inflation was a concern we all came in -- the dollar higher. That should have spooks a lot of banks and as we look at the end of the day it's makes that move I think even more surprising and I think it tells you about the credits I'd be better."

" And surprising it does it also gives you a great trade heading into tomorrow everyone is talking about Dow 10000 that is not what matters -- tell you what matters. S&P 1100 in it lines up perfectly why because everyone technically pointed towards this double top formation that to act. I have 1100 earlier this week and yesterday's sell off now I think people actually got a track this morning slightly playing it from the shortsighted. And the run up above 1100 I think it's going to be more important in terms of a break out. That actually doubts about that we're."

" points away."

" And we're gonna get -- points away but the thing is we've been very close to me yesterday we -- very close we just totally gave up on 1100 so that. That's resisting he -- and you need to have that resistance actually become support your calling glide path set and a halftime report that -- we hit. 1071. He would be seller."

" Of the S&P -- yesterday -- sit -- we -- 1076 that was my -- thought that was very -- I think that's very good support and I agree with -- I think I think we're -- 1100 and I think we had the -- I think yesterday's selloff was artificial I think with people had enough I think volatility. Which is cheap and then spike because of that it's backed down today and I think we go higher."

" Come -- let's talk Microsoft Microsoft of course will be yet he determined to see the direction tomorrow session at as -- earnings out before the bell. It was a big day today from Microsoft it launched a new operating system in fact winds that then that's another reason but perhaps not. But -- here's CEO Steve Ballmer told him golden golden about the release today. Yeah."

" I don't know Minnesota be one of one of the bigger going to biggest product if the technology industry this year just because. No one -- is used on about the billion computers -- on the planet there will be another 300 million machines that chip this year. And the diversity of PCs the -- with windows servant but the added simplicity that windows seven brings I think it's a pretty banner year."

" Fresh out of the -- seven launch event here in New York City today top ranked analyst Heather Bellini by S I joins us. Parents that have always great to thank you grandma cliched it. On the wind seven doesn't make you get more bullish on Microsoft's. It does I was at the launch event today and it really makes me want to drop by PC's main by multiple PC why wait so it back if Al a lot of the stuff you can do from a multimedia. Capability if the multimedia experience is great just the ability of you know being able to download your photos for example that you take on your digital camera and being able to automatically turn that into. Up a movie with a click of a button with animation would sound. And exporting that linked to YouTube all of the clicking the button stuff that you couldn't do with the windows machine in the past traditionally would have relied on a -- for company like that so. I thought the whole experience was great I really enjoyed the event today and that I mean like I said makes me want to go by. By hardware. So I -- that's an interesting reaction -- got -- back for Intel -- note in terms of your bullishness mean can you kind of quantify. Are you going to be raising -- raising your at Microsoft today based on what you saw today and no I mean at that keeping about Microsoft to the reason why we're bullish on the stock -- about fiscal eleven which for them starts in July the corporate refresh cycle is what we need for Microsoft -- the consumer side is great. The fact that consumers might want to go -- PCs is great. But the keeping its going to be will be hardware upgrade cycle start in calendar 2010. And we think that'll be of a multi -- process that'll be over the next twelve to 24 months and why were bullish as we thank the street is underestimating the average selling price increase they're going to see in fiscal and do we talk. Too much about the Yahoo! Microsoft search all the rest of being in everything else is that too much to worry I mean obviously the PC drivers. There is that at people say to me if I want to be long something for the windows cycle -- long a hardware company and you know what when you think about it there's no better business. Then Microsoft's windows seven. With 70% operating margins if that business starts to take off if the business PC cycle starts to come back it's all incremental -- to the company will drop down to the bottom line so. I think that's what you should focus on. At eight you know -- the thing -- that might be more interest staying tonight at the end of the day yes but whose parent maybe not so much but. But at the end of the day what's going to try the company is better profits and windows as the driver what about Google is that a real threat on any of their real business. There is big you know it is a threats they face this in the past in the biggest the biggest competitive area -- damn right now is in search which Microsoft is losing and I think it's a five your processed before they get to breakeven and that business. On the applications side we still think Google hustle a long way to go before they can catch up so we think people probably get too bearish on that and aren't necessarily focusing on the next twelve to 24 months Microsoft has some good when that they're back."

" Well they talked about im really looking towards next in the corporate cycle one of the problems at frustrations I should say travelers certainly for people that are not really -- Microsoft battles like myself but they won't give guidance anymore what's up -- that's the bomber who's been. Kind of negative senate very boast their and that little clip and -- guy should feel like they can get back out there and and give us an insight to a -- yet that hasn't made."

" Money for years well -- they argued us that they give us all the pieces to figure it out I would probably disagree there's a lot of assumptions built into the models but. Eight you know ad that's actually an opportunity and I think that keeping his onetime over the next two or three quarters all be hearing will be talking about them beating numbers by. 500 million or billion because they're not guiding him because I think that's the type of upside because he wants the corporate cycle takes sole okay Heather great to have you with us Heather Bellini -- thanks so much. -- tough times."

" It just just employed there -- we could trade on Microsoft that you want to watch for is if Microsoft really begins to gain steam on the upside and -- US and right now Microsoft encompasses 4% of the Russell 1000. It also encompasses 2% of the S&P 500 portfolio managers right now they are under invested Microsoft watch that outperformance."

" Okay we will -- knotted around of course with the traders talking about today. Here he had his hand -- article off now Bernie Madoff. Is losing his estate wagon from a Mercedes spend station wagon that belong to that's swindler will hit the auction block tomorrow. In New Jersey so we know where I Donna is right now 2001 station that's how crazy this is the ages one of the convicted -- Sam Israel's -- Brazil and is now remember -- you yeah aren't."