This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Amazon's Big Weekend: Weekly Tech Recap

Stocks in this article: AMZN GOOG EBAY GSI IBM VZ AAPL

NEW YORK ( TheStreet) -- A solid Cyber Monday gave tech stocks a nice jump start to the week, with Internet giant Amazon (AMZN) setting the tone.

Amazon's Black Friday sales increased 13% year-over-year, and eBay's (EBAY) PayPal, Google's (GOOG) revamped product search site and GSI Commerce (GSIC), an online sales system provider, all enjoyed a rich slice of the Black Friday action, said ThinkEquity's review of the e-commerce numbers.


In other Amazon news, the company announced Thursday that it invested $175 million in daily deal site LivingSocial, a rival of online discounter -- and previously rumored Google target -- Groupon.

Shares of Amazon closed down 85 cents, or 0.48% at $175.68 on Friday.

Despite the weekend's uptick in online shopping, shares of eBay fell Monday after analyst firm Stifel Nicolaus downgraded the company amid valuation concerns. Stifel analyst Jordan Rohan changed his eBay rating from buy to hold, citing lack of upward earnings momentum and competition from the free shipping offered by the likes of Amazon. The analyst also voiced his concern about margins in eBay's PayPal business.

eBay's stock closed down 30 cents, or 1%, at $29.61 at the end of play on Friday.

The rumor mill surrounding a Google acquisition of Groupon went into overdrive this week with talk of a possible $6 billion deal -- Google's largest, ever.

But after chatter pushed Google shares down Tuesday, a news site affiliated with the Chicago Tribune reported that Groupon rejected the offer, preferring instead to stay independent and mull an IPO.

Also circulating around Google was the European Commission's decision to open an investigation into allegations that Google has been abusing its dominant position in online search.

The move comes after a preliminary probe launched earlier this year following complaints from three European Internet companies. The European Commission, the EU's executive body, confirmed Tuesday that it will investigate whether Google lowered the ranking of unpaid search results of competing services.

Google's shares nonetheless closed up $1.18, or 0.21%, at $573 on Friday.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs