• July 25, 2007

Wall Street gave Netflix a beating Tuesday after the movie renter reported its first quarterly customer losses ever, and a more sober earnings outlook for the year. Netflix.com also went down for parts of Monday and Tuesday, sending the company's stock price to a two-year low. Shares dropped as low as $15.62 in early Tuesday trading, the lowest price since June 2005. The stock closed at $16.07 in New York, down nearly 7%.

Meanwhile, Amazon.com's stock soared--up nearly 22% in after-hours trading--when the Web retailer reported second-quarter profit more than tripled, boosted by strong sales of books, music and electronics worldwide. Earnings for the three months ended June 30 climbed to $78 million, or 19 cents per share, from $22 million, or 5 cents per share during the same period last year, the company said Tuesday.