Scent of Charred Greenbacks Wafts Over Amazon.com

Updated from 6:32 p.m. EDT

Related Stories

Scent of Charred Greenbacks Wafts Over Amazon.com

Amazon Too Pricey to Make AOL Investment Work

With Amazon Deal, AOL Remains King of the Jungle

Value Funds Still Not Dipping a Toe Into Amazon

Cramer: The Simple Truth About Amazon (Premium)

Amazon Looks Good Only if You're Wearing Rose-Colored Glasses

Amazon.com (AMZN Quote) shares tanked 20% this morning after the company's financial forecasts suggested it is burning cash faster than planned.

After the closing bell Monday, Amazon matched Wall Street's second-quarter financial targets and set a $100 million stock sale to AOL Time Warner (AOL Quote). But the online bookseller also slashed second-half growth targets. In morning trading, Amazon was off $3.21 to $12.78.

For its second quarter ended June 30, Amazon lost $58 million, or 16 cents a share, on a pro forma basis, excluding various expenses. That was narrower than the 22 cents expected by analysts surveyed by Thomson Financial/First Call and better than the year-ago loss of $116 million, or 33 cents a share. ...