Stocks in the news: Amazon, Costco, Alcoa, AT&T
Some of the companies making headlines today:
Amazon.com (AMZN) said Wednesday it is cutting the cost of its Kindle electronic reader to $259, a $40 price cut. The e-tailer also said it will soon begin selling a new version of the Kindle, priced at $279, in more than 100 countries.
Costco Wholesale Corp. (COST) said Wednesday that its fiscal fourth-quarter profit fell 6 percent, partly on the stronger dollar and increased employee benefit costs, but results beat analyst estimates. The warehouse-style retailer reported it earned $374 million, or 85 cents a share, compared to $398 million, or 90 cents a share, during the same quarter a year ago. Analysts had expected Costco to earn 77 cents a share.