Amazon.com Inc.
(Nasdaq: AMZN) fell to a loss for the first quarter of 12 cents per diluted share compared with earnings of 23 cents per diluted share in the year ago period but the results
were better than expected. The company also revealed that its Amazon Web Services has
grown into a $5 billion business prompting J.P. Morgan to upgrade the
online retailer from a neutral rating to an overweight rating and lifted
its price target from $375 to $535. The stock price leaped $59.73 to $449.72.
Amazon upgraded
April 24, 2015 at 12:52 PM EDT