May 2013 Issue

Battle of the Brands

Breakfast at Tiffany's or the Red Carpet With Harry Winston?

Diary of a CMO

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40 Under 40: 2013 Call For Entries Now Open!

Yankee Candle Lures Men With Bacon and Popcorn

For Club Monaco, Social is Always in Season

August 10, 2000

Amazon Stock Dips After "Underperform" Rating

After investment research firm Sanford C. Bernstein handed Amazon.com its first "underperform" rating, shares of the company declined yesterday. The company's stock fell $2.19 a share, or almost 7 percent, to $30.75. The unfavorable rating came less than two weeks after Merrill Lynch analyst Henry Blodget lowered his rating on the company from "accumulate" to "buy." The company has seen a slew of downgraded ratings since it reported second-quarter revenue of $577.9 million -- a 1 percent gain from the first quarter and about $7 million less than Wall Street expected.