Amazon, Zynga, Coinstar: Premarket Movers
NEW YORK (TheStreet) -- Amazon(AMZN) shares soared in premarket trading on Friday as investors responded positively to the Internet retail giant's strong first-quarter results, released after market close on Thursday.
The Seattle firm beat analysts' earnings estimates by four-fold and said profit margins held steady, much to the delight of investors.
Amazon shares climbed $32.71, or 16.69%, to $228.70 before the market open Friday. The company was also one of the most active Nasdaq stocks on share volume of 1,051,322.
The social gaming specialist brought in revenue of $321 million, up from $243 million in the prior year's quarter. On a GAAP basis, however, Zynga registered a loss thanks to rising costs.
Excluding items, though, Zynga beat Wall Street's earnings forecast. Zynga was also one of the most active Nasdaq stocks on share volume of 749,693.
Despite comfortably beating analysts' revenue and earnings estimates, investors balked at Coinstar's second-quarter guidance, which came in at the low end of Wall Street's forecasts.
--Written by James Rogers in New York.
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