Amazon.com, Inc. (NASDAQ:AMZN) Falls 11% From Recent Highs
Amazon.com, Inc. (NASDAQ:AMZN) shares have been under selling pressure over the past few trading sessions and slumped over 11% from its recent high of near $210. The stock is now trading lower by $2.67 or 1.42% to $185.79.
In March, the stock was up over 10% following the company announced to acquire Kiva Systems, Inc., provider of material handling technology for approximately $775 million in cash, as adjusted for the assumption of options and other items.
Late March, the company announced plans to locate a new fulfillment center in Jeffersonville, Indiana, creating up to 1,050 new jobs by 2015 and approximately $150 million in investment in the state.
The company is scheduled to report its first quarter 2012 financial results on April 26, 2012. Analysts are estimating the company to report a profit of 7 cents a share, down from a year ago profit of 44 cents a share. Revenue is estimated to grow by 30.50% to $12.66 billion, from a year ago revenue of $9.86 billion.
Last quarter, the company had beaten analysts’ estimates by a wide margin and reported 38 cents a share, compared to analysts’ estimates of 17 cents.
So far this year, the stock has jumped over 7.50% and up 3% over the past one year. The stock has been moving within a range of $166.97-$246.71 over the past 52-week. The stock has a beta of 1.
The stock has fallen below its 50-Day Moving Average and 200-Day Moving Average price of $189.23 and $196.39 respectively.
Amazon.com, Inc. serves consumers through its retail Websites and focuses on selection, price, and convenience. The Company’s four customer sets include consumers, sellers, enterprises and content creators. It also manufactures and sells Kindle devices. It offers programs, which enable sellers to sell their products on its Websites and their own branded Websites and to fulfill orders through it.