SAN FRANCISCO (MarketWatch) — Losses from Internet stocks largely overshadowed gains from Apple Inc. and Microsoft Corp. Monday as declines from Amazon.com Inc. stood out following the e-commerce giant's latest business forecasts.
Bloomberg Amazon stock is down more than 10% since the company reported earnings Thursday. Amazon (AMZN) came back from its session lows, but fell by 2.4% to close at $296.58. It was the first time the online-retailer's stock closed below $300 a share since Sept. 16, 2013. Amazon's shares have fallen more than 10% since the company reported first-quarter results on Thursday. Amazon gave an upbeat first-quarter report, but said its expenses are going to increase as its spends more on delivery services and new technology products such as its Amazon Fire TV set-top box.
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Other losses came from Salesforce (CRM) , down almost 7%; Netflix Inc. (NFLX) , which fell 2.4%; Groupon Inc. (GRPN) , off by more than 2%; LinkedIn Corp. (LNKD) , which fell more than 6%; and Pandora Media Inc. (P) , down by almost 3%.
/quotes/zigman/63011/delayed/quotes/nls/amzn AMZN 296.58, -7.25, -2.39% Amazon shares
EBay Inc. (EBAY) ended the day down by 8 cents a share at $53.64 a day ahead of the company's first-quarter earnings report.
Apple Inc. (AAPL) and Microsoft Corp. (MSFT) held on to their gains Monday, but those tech leaders proved to be among the outliers. Apple (AAPL) rose almost 4% to close at $594.09, while Microsoft (MSFT) rose 2.4% to end the day at $40.87.
Microsoft was dealing with the headache of a security vulnerability in its Internet Explorer browser, which was disclosed over the weekend.
IBM Corp. (IBM) shares rose almost 2% to $193.14.
The Nasdaq Composite Index (COMP) spent the day alternately rising and falling by large amounts before finally closing with a loss of 1 point at 4,074. The Philadelphia Semiconductor Index (SOX) also ended the day in the red.
Investors were having their sentiment tested by several matters, including the continuing crisis between Russia and Ukraine. The U.S. and the EU announced a series of new sanctions against Russia over its role in the upheaval in Ukraine.
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