Amazon.com Inc (NASDAQ:AMZN) falls on profit booking- PFE, DIS
Northern, WI 04/02/2013 (avauncer) - Amazon.com Inc (NASDAQ:AMZN) (Current $262.03, Up by 0.22%). The stock opened the trading session at $266.98, bottomed out at $261.01 and hit a high of $267.40 on April 1, 2013. The company had announced that it would acquire the book recommending website, Goodreads; however, the amount of the transaction was not disclosed. The cloud computing security of Amazon, Rapid7 is facing serious charges of breaching authentication of its clients. The data which was labeled “confidential” and “secured” in Rapid7 was none. This has led to dotcom giant under scrutiny even though the company claimed the mishap occurred due to mistakes of its clients. This may lead to tarnish of the image of Amazon S3 and making security obsessed clients quit the cloud computing services of Amazon.
Pfizer Inc (NYSE:PFE) (Current $29.15, Up by 1.07%). The stock opened at $28.75, reached bottom at $28.68 and touched a high of $28.84 during the trading session on April 1. The stock traded volumes of 19.29 Million compared to its average trading volumes of 28.94 Millions. On March 28, the company failed to get the class lawsuit against two of its pain relieving drugs, Celebrax and Bextra dismissed in a Federal court. The lawsuit is the company’s fraudulent misrepresentation of the safety of both the drugs. The Court ruled that the company played down the risks associated with cardiovascular system due to the usage of the two drugs. The lawsuit was filed in the year 2004 when another pharmaceutical giant Merck & Co withdrew its Vioxx drug from the market due to its associated cardiovascular risks.
Walt Disney Co., (NYSE:DIS) (Current $57.16, Up by 0.83%). The stock opened at $56.89 before hitting a low of $56.15 and touched a high of $57.82 during the trading session on April 1, 2013. The stock traded volume of 6.73 Million versus its average trading volume of 7.43 Millions. The company’s improving financials are raising investors’ confidence in the stock. Its rising Interest Coverage ratio and increasing profitability is working in favor of the company.