Amazon.com, Inc. (AMZN: chart) posted Wednesday a sharp rise in its quarterly profits, boosted by record holiday sales and a tax benefit. Nevertheless, the results of the Internet retail company missed analysts’ expectations, hurt by higher marketing and technology expenses. The company’s shares plummeted 15.00% in after-hours trading. Seattle, Washington-based Amazon announced net earnings of $346.7 million, or 82 cents per share, for its 2004 fourth quarter, up from $73.1 million, or 17 cents per share, a year earlier. Excluding the one-time tax gain, the company had a profit of 35 cents a share in the quarter ended December 31, falling short of Wall Street’s mean estimate of 40 cents a share, as pricing pressures from competitors affected results. Quarterly sales jumped 31% to $2.54 billion from $1.95 billion, last year. Excluding the benefit from favorable currency exchange rates, sales were up 26%. Sales in North America advanced 22% to $1.39 billion and international sales soared 43% from a year ago to $1.15 billion. For all of 2004, the company earned $588.5 million, or $1.39 per share, in contrast to a profit of $35 million, or 8 cents per share, in 2003. Annual revenue was up to $6.92 billion from $5.26 billion.

Company shares dropped 60 cents on Wednesday to $41.88. The stock plunged 15.00% to $35.60 in after-market trade.

The Boeing Company (BA: chart) said Wednesday that its quarterly income tumbled 84%, dragged by one-time charges. Despite the profit drop, the company’s shares rose 2.33% to close at $52.23 on the New York Stock Exchange, as the maker of commercial and military jets forecast a big rise in commercial airplane deliveries next year. The Chicago, Illinois-based company posted a net profit of $186 million, or 23 cents per share, for its fourth quarter, compared with a profit of $1.13 billion, or $1.40 per share, for the 2003 equivalent. On a pro forma basis, profit came to 11 cents a share, beating the consensus analysts’ forecast of 4 cents a share.

Northrop Grumman Corporation (NOC: chart) announced Wednesday fourth-quarter earnings of $294 million, or 80 cents per share, a 31% jump from prior-year earnings of $224 million, or 61 cents per share. The Los Angeles-based defense contractor cited increased U.S. military spending as main contributor for the results. Revenue for the quarter climbed 10% to $7.8 billion, surpassing analysts’ mean estimate of $7.5 billion. Northrop said it also benefited from lower pension costs.

The stock closed Wednesday at $52.34, up 34 cents, or 0.65%.

The U.S. Federal Reserve raised on Wednesday the federal funds rate by a quarter-point to 2.50%, suggesting that more rate hikes are on their way but that this will be done at a ‘measured’ pace, as economic risks were balanced between slower growth and rising prices. It was the the sixth consecutive rate increase since last summer. The Federal Open Market Committee said in a statement: ‘The Committee believes that, even after this action, the stance of monetary policy remains accommodative and, coupled with robust underlying growth in productivity, is providing ongoing support to economic activity.’ The federal funds rate, which is the main rate used for interbank loans, is still low by historic standards. Last June, before the Federal Reserve started tightening its monetary policy, the rate was 1%. The Committee aims to drive rates to a ‘neutral’ level, which neither boosts the economy nor holds it back. Economists believe that this level is somewhere between 3% and 4.5%.

Google Inc. (GOOG: chart) announced after market close Tuesday that its quarterly earnings burgeoned more than sevenfold, blasting past analysts’ estimates, boosted by strength in online advertising. The Internet search leader rolled out net income of $204.1 million, or 71 cents per share, for the fourth quarter of fiscal 2004, in contrast to net income of $27.3 million, or 10 cents per share, last year. Excluding stock-based compensation and other items, earnings totaled 92 cents per share, for the quarter ended December 31. The results sailed beyond Wall Street’s consensus forecast for earnings of 77 cents per share. Mountain View, California-based Google, which went public last summer, generated record revenues of $1.03 billion in the fourth quarter, up 101% from year-ago revenues of $512.2 million. The company said that revenues from its own Web sites accounted for 51% of total revenues. Excluding traffic acquisition costs, or commissions paid to advertising partners, revenue came to $653.5 million, compared with $296 million, a year ago. For the full fiscal year, Google earned $399.1 million, or $1.46 per share, against a profit of $105.6 million, or 41 cents per share, for 2003. Annual revenue rose to $3.19 billion from $1.47 billion.

Google shares dropped $3.72 on Tuesday to $191.90. The stock surged 9.61% to $210.35 in after-market trade.

Monster Worldwide, Inc. (MNST: chart) said after the bell Tuesday that its quarterly income doubled from last year, driven by solid revenue growth. The New York-based operator of the world’s top job-search Web site posted a fourth-quarter net profit of $24.5 million, or 20 cents a share, up from a profit of $12.1 million, or 11 cents a share, for the 2003 comparable period. The earnings were a penny a share ahead of the average analysts’ estimate. Revenue for the quarter jumped 45% to $236.8 million.

For its fiscal 2005 first quarter, Monster projected earnings of 16 cents to 17 cents a share, which is below the mean analysts’ forecast of 19 cents a share.

The stock gained 21 cents to $31.50 at market close Tuesday. Company shares plunged 9.05% to $28.65 in the extended session.

The Chubb Corporation (CB: chart) of Warren, New Jersey, reported Tuesday that its fourth-quarter net profit soared to $467.6 million, or $2.39 a share, from a prior-year profit of $72.3 million, or 38 cents per share. The insurer said income, excluding items, rose to $421 million, or $2.15 per share, from $73.1 million, or 38 cents per share, for the 2003 equivalent. Wall Street’s average estimate was for earnings of $1.98 a share. The company attributed the results to an increase in property and casualty net premiums written.

For fiscal 2005, Chubb forecast operating income of $7.60 to $8.00 per share. Analysts are looking for a profit of $7.80 per share, on average.

Chubb shares rose 2.78% to close Tuesday at $76.55. The stock added 15 cents to $76.70 in after-hours trading.

Maxim Integrated Products, Inc. (MXIM: chart) posted Tuesday a 47% rise in its quarterly earnings, aided by higher sales. The Sunnyvale, California-based chip maker announced net income of $144.6 million, or 42 cents per share, for its fiscal second quarter, compared with income of $98.5 million, or 28 cents per share, for the 2004 equivalent. The earnings topped by a penny a share the mean analysts’ estimate. Quarterly sales jumped to $436.1 million from $338.1 million. Maxim said gross margin in the second quarter improved to 72.6% from 72.4%, a year earlier.

The stock closed Tuesday up 40 cents, or 1.03%, at $39.41. Maxim shares slipped 1.55% to $38.80 in extended trade.

THQ Inc. (THQI: chart) on Tuesday turned in a profit of $62.9 million, or $1.58 per share, for its third quarter, up from $30.4 million, or 78 cents per share, generated in the 2004 corresponding period. The Calabasas Hills, California-based video game publisher said latest results included a benefit of 20 cents per share from research and development tax credits. The consensus analysts’ forecast was for earnings of $1.15 per share. Sales for the quarter advanced 37% to $400.3 million, helped by strong holiday season.

THQ shares gained 61 cents on Tuesday to $22.86. The stock was catapulted up 21.35% to $27.74 in after-hours trading.