Amazon.com Climbs

Amazon.com Inc. shares surged 20% after the largest Internet retailer said it would announce additions to its product line, raising confidence in the company’s ability to add sales and stem its losses. The company said it would hold a news conference today in New York to make “a significant announcement . . . that will impact the competitive landscape of online shopping.” The statement, given without specifics, pushed Amazon.com shares up $13.06 to close at $78 in heavy trading on Nasdaq. The company might add software, home-improvement products, or home-and-garden gear to its site, analysts and investors said. Its stock had fallen 20% the last two weeks since the company warned of plans to spend more on promotions and new products, exacerbating its losses. Shares of Beyond.com Corp., which sells software online, climbed $2.44, or 28%, to close at $11.13, on speculation that it might be bought or strike some other agreement with Amazon.com. Beyond.com President Mark Breier declined to comment on the speculation but noted that the company demonstrated several new services at a conference Monday.