Amazon.com (AMZN) hikes despite in-line loss

Amazon.com, Inc.

shares climbed 15.5% to $450.30 after the company reported in-line loss for the first quarter, but the company's sales exceeded analysts' estimates. Analysts at JP Morgan upgraded Amazon from neutral to overweight and raised the price target from $375.00 to $535.00. Share volume was 7.3 million, better than doubling its all-day average of 3.5 million