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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 233.95

+0.3%

Dec 1 3:59 PM EST

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To: Glenn D. Rudolph who wrote (123488)	4/11/2001 3:00:07 AM
From: H James Morris	Read Replies (3) of 164684

Glenn, thanks to Amazon global markets soared. btw BnBn next? >NEW YORK, April 10 (Reuters) - Amazon.com (NASDAQ:AMZN) will take over the online book-selling operations of rival Borders Group Inc. (NYSE:BGP) as the latter exits the business segment, the Wall Street Journal online edition reported on Tuesday, quoting sources familiar with the matter. Earlier, Amazon had said it would announce a partnership with another company on Wednesday but did not disclose the name. Reuters could not reach Borders officials for comment. Amazon founder and Chief Executive Officer Jeff Bezos will hold a news conference in New York Wednesday morning to make "a company announcement", said an advisory sent to news agencies. The Wall Street Journal said Amazon is expected to receive promotion from Borders through its chain of off-line book stores. In a recent earnings forecast, Amazon disclosed that revenues from its books, music and video division showed only a very slight gain in the latest quarter, even though gross margins were up sharply. The disparity in the numbers led to speculation that the company was actually losing market share in the books category. Borders has had troubles of its own, including a steep decline in profits companywide in the latest quarter, and continued losses at its Borders.com division. Last month the company said it was exploring partnerships to help reduce its costs.

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