Markets & Finance

Amazon Books Loss, Announces Job Cuts


Amazon.com (AMZN) posted a $0.25 4Q loss vs. a $0.55 loss (pro forma) on a 44% sales rise. The on-line retailer says it will close some distribution centers and cut its overall workforce by 15%. Amazon expects its Q1 operating loss to decrease year-over-year between 10%-13% of net sales.

AOL Time Warner (AOL) posted slightly better than expected Q4 cash EPS of $0.28 vs. $0.24 (adjusted, pro forma) on an 8.2% revenue rise.

Faced with the rapidly consolidating airline industry, Delta Air Lines (DAL), has started broad preliminary talks with Northwest Airlines (NWAC) and Continental Airlines (CAL) about their futures, according to a report from The Wall Street Journal.

Nortel Networks (NT) and AOL Time Warner announced a wide-ranging technology and marketing alliance. Nortel will work with businesses to IP voice-enable their sites using AOL's voice services platform.

According to a Wall Street Journal report, Qualcomm (QCOM) is planning to unveil technology that will enable standard software programs to work on diverse range of mobile phones.

Adobe Systems (ADBE) says it is experiencing a slowdown in some geographic market areas, primarily in the U.S, adding that softness in U.S. sales could affect the software firm's Q1 revenue outlook.

PeopleSoft (PSFT) posted $0.13 vs. $0.04 Q4 EPS from operations on a 34% revenue rise. Morgan Stanley DW reportedly downgraded its rating on the shares of the software company.

Applied Material (AMAT) sees Q1 revenue 7%-10% below early guidance, with its EPS also expected to fall short. S&P maintained its hold ranking on the shares of the semiconductor manufacturer.


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