WP: Amazon and Oil Prices Knock Down the Markets

[DeepModem Mom]

Amazon and Oil Prices Knock Down the Markets
By Jerry Knight
Washington Post Staff Writer
Thursday, February 2, 2006


The stock market took a triple digit plunge today and braced for another bad day tomorrow after Amazon.com became the latest big Internet company to deliver disappointing profits.

After the bell Amazon reported fourth-quarter profits fell 43 percent because the company had to spend millions luring holiday shoppers.

Coming on the heels of Wednesday's underachieving earnings report from Google, the Amazon announcement put new pressure on technology stocks....

***

Anybody who thought Wall Street might calm down after the change of power at the Federal Reserve earlier in the week got a wakeup call today.

The unstable stock market took another plunge as Wall Street pundits recited a litany of woes that included disappointing profits, fresh threats of inflation and sagging oil prices....


http://www.washingtonpost.com/wp-dyn/content/article/2006/02/02/AR2006020201513.html

[The_Casual_Observer]

1. It's easy to predict the downturns, It happens just when I get the

urge to invest some money, when all the advice is buy, buy, buy.

[JamesTee]

2. Amazon deserves it...

when they deliver damaged books and have lousy, well, non-existant, customer service.

[AlecBGreen]

3. Hey James

welcome to DU! :hi: :toast: :party:

[JamesTee]

9. Thanks...

Wish I had discovered DU a long time ago

[2Design]

4. I stopped buying from amazon and now go with Barnes and noble

trying where I can to buy blue - at first glance BN is higher because you have to buy a membership card - BUT they ship free for the three day delivery where as amazon advertises free shipping but it is media mail delivery - so there are little things

so hopefully others are not buying amazon too -

I do sell used books on amazon though

[DeepModem Mom]

5. Somehow I thought Amazon was blue? nt

[hadrons]

7. not really ... and Amazon's CEO loves Bush

B&N's CEO helped David Dinkins (only African-American mayor of NYC) get elected (he was in charge of some committee)

[2Design]

8. buyblue.org n/t

[Javaman]

6. I dumped Amazon for the same reason. n/t