Amazon Takes Big Tumble As Net Stocks End Mixed
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An earnings warning from Internet bellwether Amazon.com Inc. sent that stock sharply lower Thursday to end a mixed session.
Internet.com's Internet Stock Index closed down 1.29, or .22 percent, to 596.22, while the Nasdaq Composite lost 20.40 to 2,529.97 and the Dow Jones industrial average gained 32.93 to end at 10,878.38 for its third record close.
Amazon.com Inc. (AMZN) plunged 25-1/4 to 168-1/4 Thursday after reporting a wider first-quarter loss. The company also warned it will continue to lose money for the rest of the year as it continues to spend aggressively on marketing.
"Name your price" retailer Priceline.com Inc. (PCLN) jumped 16-13/16 to 137-13/16. The company sold more than 5,000 airline tickets on Wednesday to net more than $1 million in sales, setting a record.
Thursday's initial public offering, MPath Interactive Inc. (MPTH) soared 32-5/8 to 50-5/8. The company, which operates a number of online communities targeting 13 to 50-year-old males, sold 3.9 million shares at $18, raising just over $70 million.
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