Shares of Amazon (NASDAQ:AMZN) are getting whacked 17% in extended trading. The online retailer giant reported less than expected third quarter earnings. Net income was $63 million (14 cents per share), compared to $231 million (51 cents per share) last year. Analysts were expecting earnings of 24 cents per share. Shares of competitor eBay Inc. (NASDAQ:EBAY) are also trading 2% lower.
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International Business Machines (NYSE:IBM) is trading slightly lower after the closing bell. The company reported that Chief Executive, Sam Palmisano, will step down as CEO at the beginning of 2012. He will be replaced by global sales head, Virginia Rometty. Shares of Hewlett-Packard (NYSE:HPQ) are trading slightly higher.
Panera Bread Company (NASDAQ:PNRA) is down .17% after reporting third quarter earnings. Revenue increased 22% to $453 million, while net income came in at $29 million (97 cents per share). Chipotle Mexican Grill (NYSE:CMG) is also edging lower, while McDonald’s (NYSE:MCD) is trading higher.
After closing 25% lower during regular market hours, shares of First Solar (NASDAQ:FSLR) is edging slightly higher in late trading. Although the solar industry has been badly damaged this year, First Solar shares fell especially hard on Tuesday due to the company’s CEO stepping down after less than 3 years on the job.
Broadcom Corp (NASDAQ:BRCM) is down 4% in late trading after warning that its revenue would likely decrease this quarter due to industry softness. Chief Executive Scott McGregor said, “While our outlook reflects potential industry softness , our long-term strategy is to continue to outgrow the overall semiconductor market with product innovations that drive new market growth and value.”
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