12 Super Hot Stocks: Amazon and Best Buy Bounce After Black Friday, and Google Receives an Upgrade
After a record breaking Black Friday, analysts declare that Best Buy (NYSE:BBY), Macy’s (NYSE:M), Wal-Mart (NYSE:WMT) and Amazon (NASDAQ:AMZN) were among the early winners. However, some remain cautious about the overall consumer picture. The second best Black Friday just happens to be in 2008, the year the financial crisis was kicked into high gear. Shares jumped more than 4% early Monday.
Amazon.com Inc. (NASDAQ:AMZN): Amazon reports Kindle sales increased four times over last year’s Black Friday numbers. Consumers remain willing to splurge on hot tech items such as the Kindle and Apple’s (NASDAQ:AAPL) iPad 2. ComScore confirms Amazon’s big day, saying Amazon.com tallied 50% more visitors than any other retailer’s website. Shares surged more than 4% in before the opening bell.
Google Inc. (NASDAQ:GOOG): Shares popped more than 3% after receiving an upgrade from Citigroup (NYSE:C). The bank upgraded shares to buy, noting the company is trading below market multiples and is a compelling risk-reward opportunity in the internet sector. Google has also shown revenue growth and margin stabilization.
Investing Insights: Netflix Trades Give Whitney Tilson Whiplash.
Netflix, Inc. (NASDAQ:NFLX): Shares are up more than 5% after a Barron’s weekend article highlights Whitney Tilson’s flip flop on the entertainment provider. The stock could become “the BP of 2011,” he says, with a price that could double in a few months and whose downside is low after a steep decline over the past few months. Shares were also upgraded to Neutral from Negative at Susquehanna.
SPDR Select Sector Financial Fund ETF (NYSE:XLF): After a horrible Thanksgiving week, bank stocks are bouncing higher. Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), JP Morgan (NYSE:JPM), UBS (NYSE:UBS), and Morgan Stanley (NYSE:MS) are all heading higher on euro zone bailout rumors.