E-commerce titans Amazon.com (Nasdaq: AMZN) and eBay (Nasdaq: EBAY) both saw their stock storm to all-time highs on Friday as Wall Street was bullish about the companies’ earning reports this week. eBay, which reports its earnings today, closed up more than 16 percent on Friday, climbing 28-1/18 to 200-1/8. Amazon.com, which reports on Wednesday, closed up more than 10 percent, climbing 210-1/8.
For those of you who are keeping track of the battle for market capitalization, Amazon.com ($33.85 billion) is still well ahead of eBay ($24.18 billion). Both eBay and Amazon.com are expected to beat analysts’ estimates, but don’t be surprised if there’s some sort of pullback even if they do. This could be another case of buying on the rumor and selling on the news.