After investment research firm Sanford C. Bernstein handed Amazon.com its first “underperform” rating, shares of the company declined yesterday. The company's stock fell $2.19 a share, or almost 7 percent, to $30.75. The unfavorable rating came less than two weeks after Merrill Lynch analyst Henry Blodget lowered his rating on the company from “accumulate” to “buy.” The company has seen a slew of downgraded ratings since it reported second-quarter revenue of $577.9 million — a 1 percent gain from the first quarter and about $7 million less than Wall Street expected.
Related Posts
Graphic artist finds inspiration in European signage
On a recent trip to Italy, seasoned graphic artist Elizabeth Goodspeed developed a fascination with overseas signage. Entranced…
Change Healthcare suffers $1.6 billion loss from cyberattack
Change Healthcare, a subsidiary of UnitedHealth Group, stands to lose approximately $1.6 billion as a result of a…
Cey Adams’ enduring impact on hip-hop aesthetics
Cey Adams, highly recognized in the graphic design and hip-hop industry, has left an enduring mark on the…