. >> mike khouw, this week they were trading at 7% up or down move for amazon. did you notice any positioning going into earnings? >> it's interesting. we actually talked about this one last week. and obviously we were positioning for a down move and we obviously got it. i in some ways are surprised because the stock has managed to perforll even on results i thought were marginal. even at a 10% discount, let's say the stock does open up down 20 bucks. still in the high 50s towards forward earnings. about 90 times trailing 12 month earnings. these are high multiples. i think you need to see it come in a whole lot more. despite the fact i think the company on a gross basis is going to grow over the years. >> we got breaking news. we want to go back for news on facebook. kayla? >> cnbc has learned facebook is preparing for an ipo of $5 billion. the size of the deal could grow. many issuers use that first figure as a place holder. also morgan stanley has earned lead underwriter on the deal. will share the remaining underwriting possibilities. the paperwork is expect