Amazon Drops, First Solar Falls, Bank of America Down After HSBC Cut
On this episode of Stock Movers:
- Amazon (AMZN) shares are down. It's Amazon Prime Day. Adobe analyst Vivek Pandya says price drops in apparel, electronics and TVs are expected to be the deepest; Adobe expects Amazon and other US retailers to generate $23.8 billion in online sales during event.
- First Solar (FSLR) shares drop. President Donald Trump called for new rules that would restrict access to tax incentives for solar and wind projects in an executive order on Monday.
- Bank of America (BAC) shares fall after it was cut to hold from buy at HSBC. Analysts cited valuations are “increasingly stretched” after a rally in the banks’ stocks.
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