Tag: AMZN

UBS Upgrades Amazon.com, Raise Price Target to $385

UBS on Friday upgraded the online marketplace and Kindle maker, Amazon.com Inc. (NASDAQ: AMZN) to a “buy” from a “neutral” and increased the price target to $385 from $305. UBS’s analyst, Eric Sheridan said that Amazon’s decision to hire 70,000 seasonal employees for the crucial holiday season quarter, reflects its bullish view for the fiscal fourth quarter. Besides, Sheridan also said that the Company’s advertising business is also “unappreciated” even as Amazon’s Kindle ecosystem is showing expansion. Sheridan expects the Company to post fiscal third quarter results in-line with Wall Street’s estimates. Amazon is scheduled to reports fiscal third quarter results on Thursday after the closing bell.

Amazon.com Website Goes Down in the U.S., Canada

The world’s largest e-commerce platform, Amazon.com Inc. (NASDAQ: AMZN) went down for nearly 15 minutes on Monday. Users across Canada and the U.S. couldn’t gain access to the website. Despite several requests to comment over the issue, the Company did not reveal what exactly went wrong which caused rare interruption in its services. Amazon.com is spending heavily on its IT infrastructure, in particularly ramping up the server capacity to avert disruptions. On Monday, users spread from Toronto to New York received error messages on their screens when trying to access Amazon.com. Just last week, New York Times also suffered a technical glitch with its website going down for about two hours.

Major Movers on March 14; VRA, LCUT, EFTC, EBAY, MW, AMZN

Shares of Vera Bradley Inc. (NASDAQ: VRA) slumped on Thursday after the handbag and travel leisure accessories maker provided downbeat outlook on the current quarter and full-year, late last evening. However, fiscal fourth-quarter results exceeded Street’s estimates. For the quarter ended February 2, The Fort Wayne-based Company reported a profit of $25.1 million, or 62 cents a share, up from $20.1 million, or 50 cents a share, in the same period of last fiscal.

Continue reading Major Movers on March 14; VRA, LCUT, EFTC, EBAY, MW, AMZN

Major Movers on January 7; ES, ILMN, NFLX, CBMX, VVUS, AMZN, NCT, BIDU, NSM, ZNGA

Shares of EnergySolutions Inc. (NYSE: ES)  surged 8.28% to $3.72 after the company announced that it agreed to be acquired by  a subsidiary of Energy Capital Partners II, LLC  in a deal estimated at  $1.1 billion. According to the deal, each shareholder of EnergySolutions will get $3.75 in cash for each share of common stock. The deal represents a premium of 20 percent over the average closing price of Energysolution’s stock in previous 30 days ended January 4 2013.

Illumina Inc. (NASDAQ: ILMN) shares plunged 7.66 percent after Roche Holding Chairman Franz Humer confirmed in an interview that the Company does not hold any plans to acquire the gene-sequencing-specialist.

Shares of movie steaming company Netflix Inc. (NASDAQ: NFLX) climbed nearly 1.5 percent after the company announced a licensing agreement with Warner Bros. Television Group.

CombiMatrix Corporation (NASDAQ: CBMX) rallied on Monday. The stock gained almost 15 percent after the developer of cancer diagnostics and testing services for developmental disorders said that it anticipates higher-than-expected year-over-year growth in volume in prenatal testing for the fiscal fourth quarter and full year.

Shares of VIVUS Inc. (NASDAQ: VVUS) climbed 10.50 percent on Monday after the company reported that prescription of  anti-obesity drug Qsymia, its key product, jumped almost 68 percent for a four week period ended December 21,  compared to preceding four week period. The number of prescriptions in the latest period comfortably beat analysts’ expectations. The drug manufacturer said that it shipped 12,978 prescription of Qsymia in December up from 7,749 prescriptions in the four week period, ended November 23.

Amazon.com Inc. (NASDAQ: AMZN) shares gained around 3.30 percent after Morgan Stanley upwardly revised its rating on the stock to “overweight” from “neutral”.

Newcastle Investment Corp. (NYSE: NCT) shares leaped almost 5.50 percent on Monday. Newcastle Investment said that it intends to make a public offering of 40 million shares of common stock. The company also said that it plans to offer underwriters the option for 30 days to buy up to an additional 6 million shares of common stock.

Baidu.com Inc. (ADR) (NASDAQ:BIDU) shares fell almost 3 percent  after analyst at Barclays slashed its rating on the stock t to” Equalweight”, citing concerns  over earnings , lack of footprint in mobile computing, and Qihoo’s (QIHU) search success. Barclays which started its coverage on Baidu from October 2011 with “outperform” rating, cuts its price target last August.

Shares of Nationstar Mortgage Holdings Inc. (NYSE: NSM) jumped 11.50 percent after it entered in a deal to buy $215 billion worth residential mortgage servicing rights from Bank of America (NYSE: BAC).

Shares of social gaming company Zynga Inc. (NASDAQ: ZNGA) gained on Monday after the company confirmed that it has shuttered 11 of the 13 worst performing titles. Earlier in October 2012, the Company had said that it will pull-out underperforming13 titles by the end of January 2013 as it looked to slash costs and enhance efficiency as well as profitability by diverting resources in developing new titles.  The Company has lost significant number of gamers for its once popular titles published in the Facebook platform due to growing competition from other gaming companies as well as lack of visibility in mobile.

Major Movers on December 27; TM, DECK, MRVL, VVUS, KT, CHMT, AAPL, AMZN

Shares of Toyota Motor Corporation (ADR) (NYSE: TM), the Japanese automaker, have edged higher in early trading today. At last check, TM shares were trading 1.49% higher at $91.71 on volume of 51,081. The stock hit an intra-day high of $92.17 earlier today.

Continue reading Major Movers on December 27; TM, DECK, MRVL, VVUS, KT, CHMT, AAPL, AMZN

Major Losers on December 26; TM, PG, KORS, NOW, AMZN, ESLT, WMT

Shares of Toyota Motor Corporation (ADR) (NYSE: TM), the Japanese automaker, are marginally lower in early trading today. At last check, TM shares were trading 0.42% lower at $90.80 on volume of 71,782. The stock fell to an intra-day low of $90.41 earlier today. TM shares have fallen more than 2% in the last three trading sessions.

Continue reading Major Losers on December 26; TM, PG, KORS, NOW, AMZN, ESLT, WMT