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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (69022)	7/22/1999 9:58:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164687

NEGATIVE REACTIONS.... Amazon tried to pull off its same old song and dance. The online bookseller- cum-We Sell Everything Else company lost 51 cents per share -- hitting estimates dead on. Sounds pretty good. But at the same time, they've increased six- month spending by 66% from last year. And rather than getting closer to profitability, they're simply waxing poetic about all those pricey expansions. Example? CEO Jeff Bezos says: "We did a lot this quarter. We're especially pleased that Amazon.com Auctions is our fastest-growing business. And looking at the first few days of sales in our new toys and electronics stores, we're shocked and grateful. In fact, we believe we're already the #1 seller of children's products online." Great, Jeff, but could we see some real earnings, please? The performance did NOT wash well with the Street. Bear Stearns downgraded the amazin' Amazon. And even Merrill Lynch's Henry Blodget acknowledged that profitability is something for the next millennium. So AMZN dropped like a stone. Down $18 1/4, or 14.54%.... Compuware also got slammed. Last night, CPWR announced that it beat estimates by three cents. But analysts didn't like the looks of its revenue growth. So five firms downgraded the stock. And Compuware was hurtin' thereafter -- sank by over 20% to $26 3/4. Alas. TODAY'S BIG BLEEDERS.... Since Nasdaq was today's loser, here's a list of the index's top victims: Microsoft lost over 3 1/2 points to just over $91. Yahoo! fell by 6 3/4 to 145 1/8. Sun's down 3 1/2 to around $67. Intel shed nearly 2 points. I'm telling you, nearly everyone was in the red. Only winner? Network Associates, which added two points. And they actually LOST money this quarter.... Loose Change AMZN announced a stock split. They can't turn profits but they split stock like crazy. (I'm really down on these guys today.) What up? Meanwhile, had you bought AMZN on Jan 5, the day of its last stock split, you'd be out $17.50 per share. Shucks!!.... Isn't it ironic (break into song please: how bizarre! how bizarre!) that Barnesandnoble.com lost only 17 cents this quarter, beating estimates by 7 cents? (Granted, there were only three estimates). Not bad for the Other online bookseller. Surprised more people weren't more impressed. BNBN fell back a bit today.... Hey, Schlumberger's income tumbled by 67%. Who said oil stocks were back?.... Disney still looks lame. The Giant Mouse's earnings were 18 cents per share, down 2 cents from last year. Didn't have to happen like that. Tarzan was actually a hit. However, DIS wasted too much money on its Internet stuff. Dumb.... Internet startup Off Road Capital sent me a press release bragging that they used the Internet to hire 33 "key employees" in 61 business days. And how's that's supposed impress me?.... Met up with a group of friends in the used-to-be-hip SoHo restaurant The Cub Room. Got there a little late. When I arrived the hostess said: "Oh, you must be with the Corzine group! Goldman Sachs?" As if.... Hey! Ernest Hemingway would have been 100 years old today. Thanks, Ryan!.... BTW, Oregon was truly beautiful. Anyone thinking of a trip should definitely check it out.... Cheers. THINK THERE'S NO SUCH THING as a risk-free way to play the stock market? Think again. Play the MONEY-FORTUNE Fantasy Stock Tournament at stocktournament.money.com Invest wisely in August and you could turn your $500,000 portfolio into a 4 day/3 night trip for two to the legendary La Costa Resort and Spa. Golf clubs are included courtesy of golfsmith.com. Last day to sign up for the August game is July 31. Talk Back to Street Life.... Why let Serwer, Amy, and Nelman have all the fun?! Post your comments and questions about today's column on our boards, located at fortune.com.