Amazon (AMZN), Athenahealth (ATHN) ratings change on earnings surprises

A A A Inc. (NASDAQ: AMZN ) shares are having a hard time emerging from the red this Friday morning following a worse-than-expected earnings announcement after the market closed yesterday. The Internet retailer announced earnings of 45 cents per share and missed estimates by nine cents. Despite issuing in-line guidance for its third quarter, the stock remains down more than 7% so far on the day. The stock has recovered slightly from its earlier drop of more than 10% right after the opening bell. Bearish put volume is on the rise in AMZN during morning trading. We saw heavy volume in the July 110 puts, which have more than 9,500 contracts on the tape so far today. AMZN shares were trading down $8.95 to $111.12 as of 11 a.m. EST. The stock has bounced back from its six-month low of roughly  $108 per share

The broad-market is showing relative strength despite worse-than-expected earnings from AMZN during morning trading, and the bump up could have been helped by some upside surprises. Part of the positive earnings list is Athenahealth Inc. (NASDAQ: ATHN ) , which announced earnings of 12 cents per share. This figure beat estimates by two cents. Since its earnings report, ATHN has climbed more than 20% so far on the day. The stock has gained more than $4 to $26.49 as of 11:06 a.m. EST, but is still trading closer to its 52-week low of $21.51 (the stock dipped to its 52-week low on July 22). Options volume in ATHN remains relatively quiet on Friday, but we saw 3,200 August 24 puts cross the tape thanks to investors who appear to have expressed moderate bullishness by selling these in-the-money options to open.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Options

Referenced Stocks: AMZN , ATHN

Karla Yeh

Karla Yeh

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