ActionAlertsPLUS.com research analyst Zev Fima is filling in for Katherine Ross.
What's Going on With the JEDI Contract?
Amazon.com's (AMZN) - Get Amazon.com, Inc. Report web services unit is challenging a Pentagon decision to award the $10 billion JEDI contract for military cloud services to Microsoft (MSFT) - Get Microsoft Corporation Report .
In a statement, a spokesman for Amazon Web Services said "Numerous aspects of the JEDI evaluation process contained clear deficiencies, errors, and unmistakable bias -- and it's important that these matters be examined and rectified."
The Pentagon announced the contract award last month.
Cramer breaks down where Amazon's challenge could head from here live at 10 a.m. ET:
The Santa Clara, Calif.-based company reported 2020 fiscal third quarter earnings of $1.78 per share on revenue of $3.01 billion. Analysts were expecting the company to report earnings of $1.58 per share on revenue of $2.92 billion.
However, for the fourth quarter, the company expects revenue to be about $2.95 billion versus expectations of $3.06 billion. Gross margins are expected to be about 64.5% compared to gross margins in the third quarter of 64.1%.
"Our gaming business and demand from hyperscale customers powered Q3's results," said CEO Jensen Huang in a press release. "The realism of computer graphics is taking a giant leap forward with NVIDIA RTX."
Is Nvidia set to dominate the release of new gaming consoles in 2020?
And Warren Buffett's Adding New Positions
Warren Buffett's Berkshire Hathaway (BRK.A) - Get Berkshire Hathaway Inc. Class A Report (BRK.B) - Get Berkshire Hathaway Inc. Class B Report launched new positions in Restoration Hardware parent RH (RH) - Get RH Report and Occidental Petroleum (OXY) - Get Occidental Petroleum Corporation Report according to an SEC filing Thursday.
Berkshire's latest 13-F filing, reporting the company's shareholdings as of the end of September, shows a stake of 1.2 million shares in RH.
Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM
Catch Up: Today's Top News Videos Below