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Posted AT 4:20 PM EST on 22/10/08

Weak outlook sinks Amazon stock

Reuters

SAN FRANCISCO — — Amazon.com Inc. Wednesday posted a 48 per cent rise in quarterly profit, but gave a revenue forecast for the holiday quarter that fell short of Wall Street expectations, and its shares fell 16 per cent. The online retailer, which has cut prices to spur sales in the weak U.S. economy, posted third-quarter net income of $118-million (U.S.

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