Shares of Amazon dropped nearly 14 percent, after the company issued a profit warning cutting its annual forecast on concerns that the recession will hamper holiday consumer spending. For the quarter, Amazon reported a earnings of 27 cents a share compared to 19 cents a share for the same quarter a year prior.

Shares of Amazon sunk over 6 percent Tuesday as analyst Stephen Ju or RBC Capital Markets cut his revenue forecast citing major slow downs in consumer spending. Stephen Ju stated, "although Amazon’s product selection is broad enough that we think it will be relatively more shielded, it is certainly not immune." He maintained his outperform rating on the stock; however, cut his target price to $80... More

Shares of Amazon rose nearly 15 percent after a Goldman Sachs analyst said the stock is oversold. James Mitchell, Goldman Sachs analyst, maintain his buy rating on the stock with a price target of $98 per share. The analyst stated that Amazon's business has been proven highly successful in Japan, and also noted that the company finished its second quarter with $1.1 billion in cash allowing it the... More

The largest online retailer has decided to begin selling wine in the U.S. According to wine insiders, the company plans to begin offering wine online by early next month to nearly 26 states. Domestic annual wine sales have grown steadily in the past 14 years with total U.S. wine sales reached between to nearly $32 billion in 2007.

Amazon announced Monday that it has acquired Shelfari, a social networking site for book readers. Shelfari is a social networking site that allows its users to create virtual bookshelves or indexes of all the titles they've owned or read. Users can also comment or discuss their books. The site first started nearly 2 years ago in October 2006.

Despite a weak economy, Amazon Inc. reported that its quarterly profit doubled over the same period a year prior. The company stated that its sales grew by 41 percent, indicating that more cost-conscious shoppers may be heading online in order to save money. Amazon's shares rose 8 percent immediately following the earnings release.

Twitter is rumored to have received 15 million in funding from Amazon. The company reported that the funds will be used to strengthen its infrastructure and reliability.

Amazon's website was down for over 2 hours due system issues. Just after 1 p.m. eastern, the company's online site went down and remained down until 3 p.m. eastern. Shawn White, Amazon's keynote director, stated that an error in the website configuration may have been the culprit for the blackout.

Simon & Shuster has agreed to release 5,000 more of its books for sale on the Amazon Kindle. Amazon's Kindle is a portable electronic device for letting users download and read books. All together Amazon now has 125,000 books for sale on the Kindle.

Amazon soared over 8 percent on Monday, after a Goldman Sachs' analyst upgraded the company to buy with a $98 price target. Mitchell, stated that Amazon should be able to sustain its revenue growth longer then other Internet retailers; Amazon's growth rate in the last few quarters has matched that of Google's. Mitchel expects the company to grow its sales by 20 percent or more each year over the... More

Despite the massive slow down in consumer spending in the U.S., Amazon posted earnings of 34 cents a share, up nearly 30 percent from the same quarter a year prior. Analysts were only expecting earnings of 32 cents per share. Amazon's growth has been increasing as it continues to gain support from third party retailers who sale on Amazon's site.

Amazon reported on Thursday that it plans to buy Audible for $300 million. Audible currently sells digital audio books, the deal will help Amazon's digital music store compete with Apple's iTunes service.

Amazon reported that its sales for the 2007 holiday season were the highest since the company opened in 1994. Its shares rose over 2% immediately following the news. Its highest sold consumer products were Jakks EyeClops Bionic Eye, Nintendo's Wii, Samsung LCDs, and high definition TVs.

Cyber Monday is the name given to the Monday after Black Friday, which happens to be one of the busiest holiday shopping days for online stores. This year consumers spent a record $733 million up over 21 percent from last year on online purchases.

Chief Financial Officer, Thomas J. Szkutak, sold 20,000 shares of Amazon Thursday between $86.71 and $88.58. The sell was conducted in a prearranged trading plan. Insiders are required to file a form 4 with the SEC to report transactions of company stock.