July 28, 2005

Amazon still in debt, but back in the good graces of Wall Street . . .

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“For the first time in recent memory, Amazon.com has handed investors a surprise — the positive kind, that is,” according to a Business Week report by Robert D. Hof. “After a seemingly interminable string of earnings disappointments, the online retailer on July 26 reported better-than-expected earnings and sales for its second quarter.” According to the report, “Investors went wild.” Says one analyst, “It’s amazing how long the negative sentiments have lingered. But they had a good quarter.”

Dennis Johnson is the founder of MobyLives, and the co-founder and co-publisher of Melville House.

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