Momo Stocks Tumble as Traders Get Defensive (YELP) (GMCR) (SODA) (RIMM) (more...)
Get Alerts CMI Hot Sheet
Price: $294.65 -0.01%
Overall Analyst Rating:
NEUTRAL ( Down)
Dividend Yield: 2.6%
Revenue Growth %: 0.0%
Overall Analyst Rating:
NEUTRAL ( Down)
Dividend Yield: 2.6%
Revenue Growth %: 0.0%
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Momentum traders are selling recent hot stocks Tuesday as investors seem to be positioning themselves defensively following a nearly 2.5 percent decline in the S&P 500 over the last five trading sessions. Although this move initially appeared to be some mere profit taking following a 7.5 percent rise in equities over June, the shift away from these momo names -- and now certainly a mid-day warning from Cummins (NYSE: CMI) -- could hint at some underlying weakness. Additionally, earlier warnings from Applied Materials (Nasdaq: AMAT) and AMD (NYSE: AMD) do not bode well for the second-quarter earnings season, kicked-off less than 24 hours ago with Alcoa's (NYSE: AA) report.
- Yelp (Nasdaq: YELP) down 8.6 percent
- Green Mountain (Nasdaq: GMCR) down 8.1 percent
- SodaStream (Nasdaq: SODA) down 7.2 percent
- Research In Motion (Nasdaq: RIMM) down 5.9 percent
- Groupon (Nasdaq: GRPN) down 5.4 percent
- Zynga (Nasdaq: ZNGA) down 4.8 percent
- Netflix (Nasdaq: NFLX) down 3.4 percent
- LinkedIn (Nasdaq: LNKD) down 2.7 percent
- Priceline (Nasdaq: PCLN) down 2.6 percent
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