Did Microsoft Earnings Tip Us Off On Amazon?

Amazon.com Inc. ( AMZN - Get Report) reports earnings after the closing bell Thursday. Analysts are calling for revenue of $57.1 billion and earnings of $3.12 a share. One thing investors will be looking for, among many line items, is growth in the Amazon Web Services business. Microsoft's ( MSFT - Get Report) slowing revenue growth in its Azure product may have tipped us off. "Good Azure numbers are good for Amazon Web Services," Trip Miller, founder and managing partner of Gullane Capital Partners, told TheStreet. He added, "A good report for Microsoft would be a good early leading indicator for what Amazon might say tomorrow." While Microsoft and Amazon duke it out for market share in cloud services, the market for cloud services is growing so rapidly. Miller said he doesn't see "cannibalization" in the sector. Microsoft reported Azure revenue growth of 76% in its fiscal first quarter, well down from the 90% in the same quarter last year. 
 
Another thing to note in Amazon's earnings report: What the move to a $15 minimum wage, set to start Nov. 1, will do to operating income. "Minimum wage and the outlook for profitability for the fourth quarter" will be top of mind, D.A. Davidson & Co analyst Tom Forte told TheStreet. But the minimum wage increase could actually indicate Amazon is investing heavily. "The $15 minimum wage is a huge tell -- they're increasing physical retail footprint," Forte said.

Dunkin' Brands Reports for First Time Since Rebrand

This isn't your sleepy Dunkin' Donuts anymore. Sure, Dunkin' Brands ( DNKN - Get Report) beat on third-quarter revenue and earnings estimates, much like many other companies in the U.S. But the brand could be a resurgent one. Revenue was $350 million, handily beating estimates of $343 million. Earnings were 83 cents a share, beating estimates by 10 cents. It was the company's first earnings report since its rebrand, in which it became 'Dunkin' rather than "Dunkin' Donuts." The rebrand is supposed to reflect a commitment to a faster pace of sales in stores, which goes hand in hand with the 52 new next-generation Dunkin' stores added in the US. Dunkin' also completed its $650 million share buyback program. It was a great quarter for the coffee and doughnut chain. 

Alphabet Inc. Reports Earnings

Alphabet Inc., owner of Google ( GOOGL - Get Report) , will report earnings after the closing bell Thursday. Analysts are expecting revenue for the quarter of $34.1 billion and earnings of $10.40 a share. The stock fell more than 5% Wednesday as part of a broader market selloff, that included the Nasdaq falling 4.43%. The company's fundamentals will be revealed after the close of trading Thursday. TheStreet will be covering the earnings.
 
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