Amazon.com, Microsoft Are up (NASDAQ:MSFT, AMZN) - Hot Stocks

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Dallas, TX 10/26/2009 06:58 PM GMT (TransWorldNews)

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Shares of Amazon.com, Inc. (NASDAQ:AMZN) are again gaining 4% to $123.03 and made a new life time high at $123.90 earlier in the morning. In Friday’s trade AMZN shares climbed about 27% after for the third quarter, Amazon said net income was $199 million, or 45 cents a share, compared to net income of $118 million, or 27 cents a share, for the same period the previous year. Analysts were looking for earnings of 33 cents a share on revenue of $5.02 billion for the quarter.

Other Tech leader Microsoft Corporation (NASDAQ:MSFT) has also rallied 2.51% to $28.72 on over 60 million shares. Brokerages raised their price targets on Microsoft after the software giant's quarterly results smashed Wall Street expectations on Friday. Microsoft Corp. posted an 18% drop in fiscal first-quarter profit Friday though the software giant’s results easily topped Wall Street’s expectations thanks to tight cost controls and better-than-anticipated sales.

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