Shares of Amazon.com Inc. shot up 7.8% in afternoon trade Thursday, as investors prepped for the e-commerce giant's fourth-quarter results due out after the close. The price change of $45.40 would rank as the third-biggest ever since the stock went public in May 1997. The pre-results really might seem a bit ambitious, but the stock has soared an average of about 11%--median of about 12%--the day after the last four earnings reports, according to FactSet data. Options traders are pricing in a one-day post-results move, in either direction, of 8.3%. And two of the other three FANG stocks that have reported posted strong gains after their quarterly results. Facebook's stock shot up 16% Thursday, after reporting results late Wednesday. The last time Google parent Alphabet Inc. reported results in October, the stock surged 5.6% the day after. Alphabet reports fourth-quarter results on Feb. 1. Meanwhile, the day after Netflix Inc. reported following the Jan. 19 close, the stock slipped 0.1%, and has tumbled 12% since.
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