Shares of Amazon.com Inc. (NASDAQ: AMZN), an online retailer, are gaining in early trading today. At last check, AMZN shares were trading 3.18% higher at $230.01 on volume of 427,298. The stock hit an intra-day high of $232.68.
AMZN shares are gaining even as the company reported a loss in its third quarter. For the third quarter ended September 30, 2012, AMZN reported net sales of $13.81 billion, compared to $10.88 billion reported for the same period in the previous year. Operating loss for the quarter was $28 million, compared to operating income of $79 million reported for the same period in the previous year.
Net loss for the quarter was $274 million, or $0.60 per diluted share, compared to net income of $63 million, or $0.14 per share reported for the same period in the previous year.
Jeff Bezos, founder and CEO of Amazon, said that AMZN’s approach is to work hard to charge less. Bezos noted that the company’s approach is working.
Shares of The Goodyear Tire & Rubber Company (NYSE: GT), a manufacturer of tires, are down sharply in early trading today. At last check, GT shares were trading 6.99% lower at $11.44 on volume of 2.05 million. The stock fell to an intra-day low of $11.27 in early trading today.
GT shares are down sharply in trading today after the company reported its third-quarter financial results. For the third quarter of 2012, GT reported sales of $5.3 billion, down 13% over the same period in the previous year. The company reported segment operating income of $348 million for the third quarter of 2012.
Net income for the quarter was $110 million, or $0.41 per share, compared to $161 million, or $0.60 per share reported for the same period in the previous year.
Richard J. Kramer, Chairman and CEO of Goodyear Tire & Rubber, said that GT achieved solid segment operating income in the third quarter, driven by the company’s performance in North America. Kramer said that while the company was impacted by the macroeconomic challenges in Europe, it continues to see the benefits of its actions to sustain profit margins in a weak volume environment.
Shares of Expedia Inc. (NASDAQ: EXPE), an online travel company, are soaring in early trading today. At last check, EXPE shares were trading 15% higher at $58.94 on above average volume of 3.11 million. The stock hit an intra-day high of $60 in early trading today.
EXPE shares are soaring in trading today after the company reported its third-quarter financial results. EXPE’s room nights grew 27% in the third quarter, driven by acceleration across Europe, Asia-Pacific and the Americas. Adjusted EBITDA for the quarter rose 6%. Adjusted earnings per share for the quarter rose 3%.
Shares of The New York Times Company (NYSE: NYT), a global, multimedia news and information company that includes newspapers, digital businesses, investments in paper mills and other investments, are lower in trading today.
At last check, NYT shares were trading 1.32% lower at $8.20 on volume of 283,716. The stock hit an intra-day low of $8.11 in early trading today.
NYT shares are falling after the company reported its third-quarter financial results. For the third quarter of 2012, NYT reported loss from continuing operations of $0.02 per share, compared earnings from continuing operations of $0.04 per share reported for the same period in the previous year. Excluding one-time items, NYT reported diluted loss per share from continuing operations of $0.01.
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