Amazon.com, Inc. (NASDAQ:AMZN) Falls Over 1.50% With the Broader Market
Amazon.com, Inc.(NASDAQ:AMZN) shares fell 1.73% to $186.62 with the broader market despite the company made a positive announcement after the closing bell on Friday.
Late Friday, Amazon.com commenced with the shipment of the Kindle Touch 3G to its customers in across the world covering 175 countries and territories on Saturday. Though the touch-screen e-reader has been available in the U.S. since last fall, the news of releasing the Kindle Touch 3G e-reader in more countries and more languages worldwide, broke on Wednesday.
Available to the customers for pre-orders and shipment from April 27th, the gadget is an electronic-reader with 3G wireless. The battery life of the device as stated is two months. The device would be accessible in German, French, Italian, Spanish and Portuguese, apart from the English language.
Coming in the same design and with the same features as the Kindle Touch, the device holds up to 3,000 books and offers 3G wireless service at no extra charge. There is of course, convenience of free 3G wireless connection which has been added to it. Valuing $149 in the U.S.; international prices are similar.
Vice president of Amazon Kindle division said: “Kindle Touch 3G is the most full-featured e-reader available, with a beautiful, latest-generation electronic ink display, fast page turns and long, two-month battery life.”
LA Times said the Seattle online retail giant said Kindle Touch 3G orders would be filled in the order they were received. Shares of Seattle-based Amazon slipped $4.52, or 2.2 percent, to $200.92 in early afternoon trading.
The company is scheduled to report its first quarter 2012 financial results on Thursday 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.