After Hours

Company	Stock Move	Reason for Move
Microsoft (MSFT)	23.50 -2.06 (-8.1%)	MSFT reports fourth quarter (Jun) earnings of $0.36 per share, in-line with the First Call consensus of $0.36. Revenue fell 17.3% year-over-year to $13.1 billion versus the $14.37 billion consensus. Microsoft is providing operating expense guidance of $26.6 billion to $26.9 billion, for the full year ending June 30, 2010. "Our business continued to be negatively impacted by weakness in the global PC and server markets,"
Amazon.com (AMZN)	86.60 -7.25 (-7.6%)	AMZN reports second quarter (Jun) earnings of $0.32 per share, in-line with the First Call consensus of $0.32. Revenue rose 14.5% year-over-year to $4.65 billion versus the $4.69 billion consensus. AMZN second quarter gross margin 27.4% versus 23.6% consensus. Company issues in-line guidance for third quarter, sees third quarter revenue of $4.75-5.25 billion versus $4.92 billion consensus. Operating income is expected to be between $120 million and $210 million, or between 22% decline and 36% growth compared with third quarter 2008.
American Express (AXP)	28.17 -1.28 (-4.4%)	AXP reports second quarter (Jun) earnings of $0.27 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.26. Revenue fell 18.3% year-over-year to $6.09 billion versus the $6.29 billion consensus. Consolidated provisions for losses totaled $1.6 billion compared to $1.8 billion in the year-ago period, primarily reflecting lower average cardmember receivables and loans, offset by higher write-offs and past due loans. At the end of the quarter, the company's tier-one risk based capital ratio was 9.6%. Its tier-one common risk based ratio was also 9.6%, which compared favorably to the regulatory benchmark of 4%. The company's return on average equity (ROE) was 13.2%, down from 31.1% a year ago.
Burlington Northern Santa Fe (BNI)	76.80 +2.40 (-3.0%)	BNI reports second quarter (Jun) earnings of $1.18 per share, $0.17 better than the First Call consensus of $1.01. Revenue fell 25.9% year-over-year to $3.32 billion versus the $3.43 billion consensus. Company says "We are beginning to see BNSF's volumes stabilize in our more economic sensitive businesses, and because of our continued focus on productivity combined with our long-term market opportunities, we are well positioned to benefit when the economy recovers...."
Capital One (COF)	26.80 -1.03 (-3.7%)	COF reports second quarter (Jun) loss of $0.65 per share, including TARP charges, $0.08 better than the First Call consensus of ($0.73); revenues rose 1.4% year-over-year to $4.15 billion versus the $3.88 billion consensus. Tangible common equity to tangible managed assets, or "TCE ratio," increased to 5.7 percent, up 90 bps from the March 31, 2009, ratio of 4.8 percent. . U.S. Card charge off increased 84 bps to 9.23%. Total company delinquency rate for the segment was 5.82 percent as of June 30, 2009, an increase of 12 basis points from 5.70 percent as of March 31, 2009. For U.S. cards, delinquncies declined 31 bps to 4.77%.