Diamonds and Dogs
Facebook (FB) higher on an upgrade. Money rotates back into tech as Facebook jumps 2% not far from all time highs. Goldman Sachs raised their price target to $250 a share from $220 on the opportunity presented by Facebook Shops and checkout. With over 1 billion monthly active accounts of which more than 500 million use stories daily allows Facebook to monetize these new platforms. Amazon (AMZN) is higher by 2% on an upgrade as well.
Profit-taking in the markets. Boeing (BA) is down 4% after reporting a negative 602 orders year to date. The airlines are down 8-10%. Movie theatre, AMC Entertainment (AMC) is down 5% ahead of earnings. AMC lowered guidance last week expecting sales to decline over 20%.
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