Word: quartered
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...shoppers stampeded online to see the full selection at competitive prices, says Keith Jelinek, a director at AlixPartners. "It was definitely a competitive advantage for Amazon," he says. The Seattle-based retailer posted a 40% earnings increase in full-year 2009, with the biggest gain coming in the fourth quarter, where net income shot up 71% - far above Wall Street's expectations...
...Amazon's sales grew 42% in the fourth quarter, outpacing e-commerce in general, which rose 5% to 10%, according to Colin Sebastian, senior research analyst at Lazard Capital Markets. "Amazon has emerged as the Walmart of the online retail world," says Sebastian...
...Instead, many analysts see Amazon's biggest growth coming from its international operations, expansion into new merchandise and the addition of more third-party sellers. Its November acquisition of online shoe giant Zappos, for example, contributed $200 million of revenue to the company's fourth quarter. The number of active third-party sellers rose 27% to 1.9 million, and revenue from international sales climbed 49% to $4.56 billion in the latest quarter...
...Lehman wasn't alone. Merrill Lynch lost nearly $20 billion on investments in collateralized debt obligations (CDOs). Morgan Stanley had a nearly $4 billion loss in proprietary trading in the fourth quarter of 2007. Goldman Sachs spent $3 billion to bail out one of its hedge funds. And Citigroup has poured more than $3 billion into fixing its problems with structured investment vehicles, investments the bank set up with its own capital. Like Merrill, Citi lost big - as much as $15 billion, on the CDOs it decided to hold rather than sell off. In fact, nearly every large financial firm...
...have to do is order before Saturday to pick up on Sunday. So even if the Saints fumble in the last quarter or the Colts miss the game-winning field goal, we all can rejoice in chocolate cake and cream filling...