Amazon.com, Inc. (NASDAQ:AMZN) Moves Up To Session High
Shares of Amazon.com, Inc. (NASDAQ:AMZN) turned higher after opening lower and were recently up 1.68% to $222.02, near to session high of $222.28.
The company is expected release a music service resembling that of Apple’s music services. The music service will include storage of songs on remote server and their respective online access.
It is also expected to release an iOS version of its Cloud Player app for iPhone and iPod touch devices. The Cloud Player app provides access to audio files on Amazon servers either purchased from Amazon’s music store or later uploaded by customers.
Shares of the web retailer climbed 1.82% after the Company’s rumor of release of the music service was made in the market. Amazon Inc also had announced the expansion of its free support for all AWS customers by reducing the pricing on premium support plans and multiple new features to help customers better interact with and improve their use of AWS. The Company’s AWS Support is a fast-response support channel that is staffed around the clock with experienced and technical support engineers.
The Company had previously gained on announcement of new Amazon Instant application for Microsoft’s (MSFT) Xbox 360. The Company’s Amazon Instant Video is one of the most requested video features.
Company’s stock has been facing a downward trend with the shares having lost 2.55% after it had issued a lower than expected second quarter fiscal 2012 earnings guidance and a growing concern over its revenue was clearly visible on falling Kindle revenue. The company had reported $0.28 earnings per share for the first quarter of 2012 which outlawed the analysts’ consensus estimate of $0.07 by i.e. by $0.21.
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