This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
NEW YORK (
Amazon(AMZN - Get Report) was a big winner in premarket trading on Wednesday, climbing more than 8% following the online retailer's
fourth-quarter results, which were released after market close on Tuesday.
Investors responded positively to Amazon's 22% year-over-year revenue hike, which beat estimates, and shrugged off the company's bottom-line miss. Amazon earned 21 cents a share on $21.27 billion in revenue, compared to Wall Street's forecast of 28 cents a share on $22.26 billion in revenue. During the prior year's quarter, the company earned 38 cents a share on $17.43 billion in sales.
The company's first-quarter guidance, however, was weaker than anticipated, with Amazon forecasting revenue between $15 billion and $16.6 billion. Analysts were expecting $16.85 billion in sales.
Nonetheless, Amazon shares surged 8.82% to $283.3 before market open.
Research In Motion(RIMM), which will unveil its new
BlackBerry 10 technology at a glitzy event in New York on Wednesday, was another gainer, climbing 1.98% to $15.97.
In addition to the eagerly anticipated OS, RIM is expected to launch
two new smartphones; a touchscreen device and another which features a QWERTY keyboard.
Facebook(FB - Get Report), which reports its fourth-quarter results after market close, was another gainer, climbing 1.62% to $31.29.
Analysts surveyed by
Thomson Reuters expect Facebook to report revenue of $1.53 billion and earnings of 15 cents a share.
Apple(AAPL - Get Report) shares, which gained 1.88% during Tuesday's trading, slipped 0.17% to $457.5.
Yahoo!(YHOO - Get Report) shares rose 1.32% to $19.96, despite slipping 3% during Tuesday's trading. The Internet giant reported better-than-expected
fourth-quarter results earlier this week.
TheStreet will be live-blogging RIM's BlackBerry 10 event, starting at 9.30 EST:
--Written by James Rogers in New York.
>To submit a news tip, send an email to: