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Friday, December 3, 2010

Fads that Can't: AMZN, AAPL, CMG, NFLX, CRM

Amazon.com (NASDAQ: AMZN) is down approximately 1% today. The number one online retailer fell only slightly, as upcoming holiday sales should bolster its stock price.

Apple (NASDAQ: AAPL) is down approximately 0.5%. The stock is down as some investors believe that the holiday season will not be too good for the tech company.

Chipotle Mexican Grill (NYSE: CMG) is down over 7% on a major downgrade from Morgan Stanley. They downgraded from Overweight to Equalweight, and reaffirmed their $195 price target on the stock.

Netflix (NASDAQ: NFLX) is down just shy of 3% as Jim Cramer, the stocks largest backer said to sell half your position in the stock if you are up more than 100%. The stock pulled back on the news and continued to fall as hedge funds took their cue from the stock sage.

Salesforce.com (NYSE: CRM) is down 0.24% in afternoon trading. This comes after the high flying tech company announced its new FinancialForce platform.

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