Amazon (AMZN) shares fell over 3% after UBS downgraded the stock to neutral from buy and lowered its price target to $375 a share from $450. The downgrade was due to a survey that showed fewer Amazon Prime members would be willing to renew if the company raises its membership prices.
Dr Pepper Snapple Group (DPS) saw shares finish the day up 2% after it reported earnings of 97 cents a share beating estimates by 12 cents, while revenue fell 1.4 percent to $1.46 billion missing estimates of $1.47 billion. The maker of 7Up, Sunkist, A&W root bear and Hawaiian Punch is struggling to cope with the U.S.'s decline in soda consumption. The company also forecasted that revenue will remain flat in the year ahead while its earnings per share will fall in the $3.38 to $3.46 range, above estimates of $3.26 per share.
The online travel research company TripAdvisor (TRIP) saw shares rise 7% after it reported quarterly earnings of 21 cents a share in-line with estimates, while revenue grew 26 percent to $212.7 million beating estimates of $205.5 million. TripAdvisor's top-line was aided by a surge in its display-based advertising, while its bottom line was hurt by a rise in marketing and technology costs.
Fossil Group (FOSL) finished the day up 3.3% after it posted earnings of $2.68 beating estimates by 25 cents while revenue grew 12 percent to $1.06 billion beating estimates of $1.02 billion as well. In North America, Fossil's largest market, sales rose 13 percent in the last quarter. The retailer also forecasted revenue to grow 8 to 10 percent in 2014.
Reporting before markets open tomorrow are GNC Holdings (GNC), Molson Coors Brewing (TAP), Orbitz Worldwide (OWW), PepsiCo (PEP), Goodyear Tire & Rubber Co (GT) and Starwood Hotels & Resorts Worldwide (HOT).