Expect the following technology stocks to be among Tuesday’s most actively traded issues: Amazon.com, Expedia and Gateway.
The online retailer will be active ahead of its fourth-quarter earnings report. Analysts are projecting a loss of 26 cents a share on sales of $994 million.
The stock closed up 63 cents to $20.13.
On Monday, a couple analysts said they expect the e-tailing giant to lower its 2001 sales targets Tuesday.
Robertson Stephens analyst Lauren Cooks Levitan even warned investors on Monday to beware of Amazon's "spin effect," where Amazon executives give little real information, but try to paint a happy picture despite big losses. Levitan, who noted Amazon.com typically issues a mixed quarter, will "back down from its 2001 sales target of $4 billion."
Last quarter, Amazon.com posted a loss
of $68 million, or 25 cents a share, on sales of $638 million.
The online travel site should moved higher Tuesday after it easily topped analysts’ estimates in its latest quarter.
The company posted a loss of $2.6 million, or 6 cents a share, on sales of $80 million.
Analysts were expecting a loss of 15 cents a share in the quarter.
In the year-ago period, it lost $10.3 million, or 26 cents a share, on sales of $44 million.
The stock closed up 50 cents to $16.75 ahead of the earnings report.
The PC maker will be worth watching Tuesday after Chairman Ted Waitt said he was replacing Jeff Weitzen as the company’s chief executive officer.
Weitzen, 44, who has been CEO for only a little over a year, said he was retiring, Gateway said in a statement.
He joined the company after managing several businesses at AT&T (NYSE: T) in January 1998.
Weitzen, came from AT&T as a “convergence player,” expected to bring his experience of how to mix personal computers with the communications and consumer electronics markets -- the idea behind Gateway's so-called ``beyond the box'' strategy.
“We have worked very hard over the past three years to transform Gateway in ways that would ensure its long-term success,” Weitzen said in a statement. “I am really proud of the work we've done and of all that we've achieved, and I am really looking forward to spending more time with my wife and family.”
Gateway shares closed up 89 cents to $21.66 ahead of the news.
Reuters contributed to this report. >