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Amazon (AMZN) - Get Amazon.com, Inc. Report was up 5.4% in late morning after Bear Stearns forecast a narrower second-quarter loss, and revenue ahead of expectations.

Bear Stearns cut its second-quarter loss estimate to 20 cents from 21 cents. The consensus estimate is a loss of 22 cents.

Bear Stearns also said second-quarter revenue should top the first quarter's $700 million, vs. the consensus estimate of $678 million. Bear Stearns maintained its attractive rating on the stock, and emphasized a near-term trading opportunity.

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