Amazon, Fitbit, and LinkedIn Among 5 Major Stocks Making Noise Today

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Crude futures are down by 1.7% today and the major index futures are in the red after today’s jobless claims report showed 264,000 claims, on the lower end of the consensus estimate of 262,000-to-285,000. Although the claims were better than the mid-point of expectations, the market was evidently expecting something better nonetheless. Among the stocks that traders are buzzing about today are, Inc. (NASDAQ:AMZN), QUALCOMM, Inc. (NASDAQ:QCOM), SYSCO Corporation (NYSE:SYY), LinkedIn Corp (NYSE:LNKD), and Fitbit Inc (NYSE:FIT). Let’s find out why each stock is in the spotlight and see how the smart money is positioned in each of them.

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Frank Gaertner / Expands Its Offerings Internationally, Inc. (NASDAQ:AMZN) is in the spotlight today after unveiling a food delivery service in Britain. The service will offer around 130,000 groceries including thousands of fresh dairy, bakery, and produce items to select parts of London. The cost for the service will be an additional £6.99 monthly fee to Amazon Prime member for deliveries on orders of £40 or more.  The web giant hopes that its fresh-food delivery service will help it gain market share against established British supermarkets. Andreas Halvorsen‘s Viking Global owned more than 3.4 million shares of, Inc. (NASDAQ:AMZN) at the end of March.

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Analyst Downgrades QUALCOMM 

QUALCOMM, Inc. (NASDAQ:QCOM) is 1% lower this morning after analysts at Brean Capital lowered their rating on the chip maker to ‘Hold’ from ‘Buy’. The analysts cite the trend towards more commoditized lower-price products in the smartphone sector that has caused pricing headwinds as one reason for the downgrade. Shares of QUALCOMM, Inc. (NASDAQ:QCOM) are up by 12% year-to-date and trade for 12-times forward earnings estimates. Of the 766 elite funds in Insider Monkey’s database, 59 held shares of the chipmaker at the end of the first quarter.

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On the next page we examine why SYSCO Corporation, LinkedIn Corp, and Fitbit Inc are making noise today.

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