Stocks are higher on Wednesday with financials leading the way, while the tech-heavy Nasdaq struggles to keep up. Plus, a huge day for Prime members, Jeff Bezos, rockets … and dogs. We cover all things Amazon. And ebay and IBM earnings are coming up.
Plus, the Oracle of Omaha made a controversial move that has Berkshire shares surging higher.
Winners and losers
Stocks in the red include Twitter as Macquarie Research lowered its rating of the social network to “neutral” from “buy,” saying the best is behind the stock after upgrading it in April; Clorox as Goldman Sachs downgrades the company to sell and reduces the price target to $112 from $127; and Envision Healthcare shares are dropping as Jim Chanos reveals he is shorting the physician management company, claiming KKR may get cold feet in its planned $10 billion merger of Envision with rival Mednax.
Stocks in the green include United Continental as shares of the airline soar after raising its profit outlook and recovering 75% of its fuel increase with higher fares and other initiatives; Morgan Stanley as the investment bank beat on earnings, revenue, and upped tis dividend and buyback program, and Papa John’s shares are up as Dow Jones reports the embattled pizza chain held merger talks with Wendy’s before the recent John Schnatter scandal blew up.