was up 0.3% in preopen
trading. After the close Tuesday, the company posted a fourth-quarter loss of 25 cents per share vs. the Street's estimate of 26 cents and the year-ago 55 cents. The online retailer also said it would cut 15% of its workforce, close facilities and take a restructuring charge of more than $150 million. Amazon
warned that 2001 sales would come in below estimates, but it also predicted that it would turn a profit for the first time late in 2001.
Morgan Stanley Dean Witter
analyst Mary Meeker cut her 2001 estimates but maintained her outperform rating. Henry Blodget of
also cut his estimates but maintained his near-term accumulate, long-term buy.
repeated its hold rating and 12-month target of 20.