NEW YORK ( TheStreet) -- Amazon (AMZN - Get Report) was plunging 11.9% to $200.10 in premarket trading Wednesday after the online retailer came in a dime short of Wall Street's third-quarter profit expectations and gave a soft outlook.
For the third quarter, Amazon posted earnings of $63 million, or 14 cents a share, on sales of $10.88 billion. The average estimate of analysts polled by Thomson Reuters was for earnings of 24 cents a share in the quarter on revenue of $10.95 billion.
For the fourth quarter, Amazon forecast between an operating loss of $200 million and a profit of $250 million with sales seen ranging from $16.45 billion to $18.65 billion. The current consensus view is for sales of $18.15 billion in the period, and a profit of 85 cents a share, which is based on a net income estimate of around $394 million.
Aerospace giant Boeing (BA - Get Report) raised its full-year guidance to between $4.30 and $4.40 a share after reporting third-quarter earnings of $1.46 per share, which beat the average analyst estimate of $1.10 a share. Shares were rising 3.7% to $66.05.
WellPoint (WLP), the largest health insurer based on members, said that its third-quarter adjusted net income came in at $1.77 a share, topping analysts' estimates, as it added 169,000 members in the quarter. Net income was $683.2 million, or $1.90 a share, including net investment gains of 13 cents. A year earlier, net income was $739.1 million, or $1.84 a share, including net investment gains of 10 cents. Shares were rising 3.7% to $69.50.
Nokia (NOK - Get Report) on Wednesday unveiled its first Windows-based smartphones, the Nokia Lumia 800 and Lumia 710. Shares were rising 2.7% to $6.89.
Integrated oil company ConocoPhillips (COP - Get Report) reported third-quarter adjusted earnings of $2.52 a share, beating the Wall Street consensus target of $2.18 a share. Shares were rising 2% to $72.10.
Sprint (S), the No. 3 telco, posted a third-quarter loss of $301 million, or 10 cents a share, narrower than a year earlier as revenue rose 2% to $8.33 billion. Analysts surveyed by Thomson Reuters expected Sprint to report a loss of 22 cents a share on revenue of $8.38 billion. Sprint said the "iPhone is expected to be accretive for Sprint, and iPhone users are expected to be among Sprint's most profitable customers." Sprint said it expects to add net postpaid subscribers for 2011 from 2010 and improve total net wireless subscriber additions this year. Shares were rising 1.5% to $2.74.
Business software maker SAP (SAP - Get Report) said net profit jumped to €1.25 billion ($1.7 billion) in the third quarter as the company reduced the amount of money set aside for a possible judgment against it in a lawsuit brought by Oracle (ORCL). Shares were rising 1.5% to $60.20.
IBM's (IBM - Get Report) popular CEO Sam Palmisano plans to step down at the end of 2011. The Dow component said Tuesday he'll be replaced by the company's sales chief, Virginia Rometty. Shares were up 0.3% to $180.86.
Ford (F - Get Report) reported that third-quarter net income fell $38 million year over year to $1.6 billion, or 41 cents a share. Adjusted profit came in at 46 cents a share, beating the average analyst estimate of 44 cents a share. The company made no mention of a timeline for reinstituting a dividend. Shares were flat at $12.42.
DreamWorks Animation (DWA - Get Report) reported third-quarter net income fell more than 50% year over year to $19.7 million, or 23 cents a share. Analysts, on average, were expecting earnings of 21 cents. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.