NEW YORK ( TheStreet) -- Shares of Amazon ( AMZN) saw heavy selling in Tuesday's extended session after the company came in a dime short of Wall Street's profit expectations for its fiscal third quarter and gave a soft outlook. The stock was last quoted $203.11, down nearly 11%, on after-hours volume of 4.4 million, according to Nasdaq.com. The shares have actually recovered a good bit, bouncing off a low of $184.59. Amazon's margin shrinkage seems to have finally caught up to it. The company has been spending like crazy, expanding to offer customers cloud-based media storage and streaming as well as its popular Kindle e-readers. In mid-September, Amazon unveiled its tablet offering, the Kindle Fire, which will retail for $199, a price point that is generally believed to be below the company's cost. For the fourth quarter ending in December, 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 December-ending period, and a profit of 85 cents a share, which is based on a net income estimate of around $394 million.
That performance topped the average estimate of analysts polled by Thomson Reuters for earnings of 94 cents a share in the quarter on revenue of $447 million. Panera also said it now expects earnings of $4.63 to $4.65 a share for fiscal 2011, a boost of prior projections, and that it sees fiscal 2012 earnings coming in between $5.38 and $5.48 a share, above the current consensus view of $5.29 a share. The stock leapt 10% to $127 in late trades on volume of more than 150,000. Other stocks active in Tuesday's after-hours session included IBM ( IBM), which was down marginally after announcing that CEO Sam Palmisano is leaving that post at the end of the year; F5 Networks ( FFIV), which was up more than 7% after the networking gear maker reported strong quarterly results and a solid outlook; Questcor Pharmaceuticals ( QCOR), which gained more than 12% after the company reported third-quarter earnings of 35 cents a share, handily beating the average analysts' view of 26 cents a share; and Human Genome Sciences ( HGSI), which was down more than 13% after the company reported a wider-than-expected quarterly loss. -- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: firstname.lastname@example.org