NEW YORK ( TheStreet) -- Amazon.com ( AMZN) and Terremark Worldwide ( TMRK) were headed in opposite directions in Thursday's after-hours session. A revenue shortfall in its fiscal fourth quarter was weighing on Amazon.com's shares as the online retailer grew sales by 36% year-over-year to $12.95 billion in the three months ended Dec. 31 but that wasn't enough to satisfy Wall Street, which had pegged revenue at $13.01 billion. The company's revenue outlook for the first quarter was a wide one as it projected net sales of between $9.1 billion and $9.9 billion in the March period vs. the current consensus view of $9.3 billion. The stock was last quoted at $168.17, down 8.8%, on volume of 4.7 million, according to Nasdaq.com. After running up more than 40% over the past 52 weeks, the bar was set pretty high for Amazon.com, which has plenty of bulls on Wall Street. The stock's forward price-to-earnings ratio was a hefty 53X the current 2011 consensus profit view heading into the report. Of the 38 analysts covering the shares, 26 are at either strong buy (13) or buy (13), and the median 12-month price target of $196.50 implied upside of another 7% to Thursday's regular session closing price of $184.45. Meanwhile, shares of Terremark were surging more than 35% to $19.04 in late trades on volume of nearly 380,000 after Verizon Communications ( VZ) agreed to acquire the Miami-based data center operator for $1.4 billion in cash. The deal, which values Terremark at $19 per share, was giving a boost to the company's competitiors, including names like Savvis ( SVVS), up 9% to $28.98; Internap Network Services ( INAP), rising 7.5% to $7.49; Riverbed Technology ( RVBD), gaining 5% to $36.59; and Equinix ( EQIX), advancing 5.5% to $92.54. PMC-Sierra ( PMCS) was having a tougher time of it, however, as shares of the Sunnyvale, Calif.-based maker of networking chips were last quoted at $7.69, down 13.7%, on volume of nearly 620,000. After the closing bell, the company reported fourth-quarter adjusted earnings that were a penny short of Wall Street's consensus estimate. It also offered an outlook for revenue of $150 million to $160 million for the current first quarter, according to a Reuters report, below the average analysts' view for revenue of $167.6 million in the March period.