Monday, July 9, 2012

SolarWinds Inc Falls On Downgrade (RJET, SWI, TSLA, CROX, AMZN)

Republic Airways Holdings Inc. (NASDAQ:RJET) shares fell 1.20% to $5.74 in the morning hour. The International Brotherhood of Teamsters is calling on Republic Airways shareholders to vote for the union's proposal to appoint an independent chairman of the board. The proposal No. 4 on the company's proxy will be voted on by shareholders before polls close at the company's Aug. 1 shareholder meeting.

SolarWinds Inc (NYSE:SWI) shares declined 6.41% to $39.88 after the shares of the company was downgraded by analysts at FBR Capital from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors today. SolarWinds last posted its quarterly earnings results on April 26, 2012. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25. The company’s revenue for the quarter was up 38.8% on a year-over-year basis. Analysts expect that the company will post $1.20 EPS for the current fiscal year.

Crocs, Inc. (NASDAQ:CROX) shares dropped 5.69% to $15.09 in the morning hour. The 52 week trading range for the company is $14.20 - $32.47. The stock of the company has plunged 44% in the last one year. On June 22, 2012, Benchmark Capital started coverage of CROX with a "buy" rating and $23 price target.

Tesla Motors Inc (NASDAQ:TSLA) shares gained 1.69% to $31.51 in the early hour. The 52 week trading range for the company is $21.50 - $39.95. The shares of the company have increased 9% in the last one year. Tesla designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.

Amazon.com, Inc. (NASDAQ:AMZN) shares decreased 0.32% to $224.33 in the morning hour. On July 5, 2012, Dow Jones reported that the company is developing a smartphone. Foxconn International Holdings Ltd of China is working with Amazon on the device.

On July 2, 2012, Amazon.com Inc reportedly agreed to buy mapping startup UpNext. GigaOM reported that UpNext Founders Raj Advani, Vik Advani, Robin Har and Danny Moon will move from New York to Seattle, where Amazon is based, to lead the e-commerce company's mapping efforts.

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