As the market continues to sell off, big tech names are seeing notable declines in the stock market today. Leaderboard member Amazon (AMZN) has breached a key level. The e-commerce giant’s shares dropped 3.7% in above-average volume, puncturing the 50-day moving average. The stock is on track for its fifth session of losses — its longest losing streak in a month. But its last four losses were in below-average turnover, which is what you want to
A record 49% of total Amazon (AMZN) purchasers are now Prime members, up from 39% a year ago, according to a new Cowen Internet Retail Tracker report for August. And despite soft visit trends across the industry last month, Cowen calls Amazon a “solid performer” in purchaser growth: the e-commerce giant saw purchasers rise 1.4% year over year despite a decline in visits. Also in its Internet Retail Tracker report, Cowen found traditional retailers
High-rated tech stocks like the IBD Leaderboard’s Amazon.com (AMZN) and Palo Alto Networks (PANW) got a lift early Monday with the rising market. But it turned choppy midday — a Hillary Clinton tweet on “price gouging” in prescription drugs slammed biotechs. The general stock market direction of an uptrend under pressure warrants caution. Amazon introduced new tablets Thursday and powered back up with a more than 1% gain Monday afternoon. The