Stocks have started 2016 on a sour note, dropping hard in heavy volume amid weak Chinese manufacturing data. As the market sells off, five tech names are showing some bearish technical action in the stock market today: Amazon (AMZN), Tesla Motors (TSLA),JD.com (JD), Weibo (WB) and Sohu.com (SOHU). All are featured on IBD’s Stocks On The Move list, which takes a look at stocks that are making moves in big volume. Let’s go to the charts. Amazon
The best-performing big-cap tech stocks of 2015 are Amazon.com (AMZN), Netflix (NFLX) and Ctrip.com International (CTRP) — all have more than doubled in 2015, and two stand a good chance of further big gains in early 2016. The three are the only tech stocks with a market cap over $10 billion that have at least doubled in 2015. On the final, New Year’s Eve, trading session, Netflix closed up 134.3% for the year, followed by Amazon.com at 117.8% and
Amid what Amazon.com (AMZN) expects will be a record year for holiday sales, the e-commerce leader is set to win a legal skirmish in its war to eliminate phony reviews from its cyber shelves. Filed Wednesday in the U.S. District Court of Western Washington, documents obtained by IBD say that the company has reached a tentative agreement with five parties that would permanently ban those parties — and their products — from the company’s storefront.