It's a hump day edition of trending tickers. Here's what's hot according to your yahoo finance ticker searches:
Amazon.com (AMZN): The world's largest online retailer popping today as Goldman (GS) adds the company to its much-tracked Conviction Buy List. Goldman claims "the ongoing investment in fulfillment and infrastructure will widen Amazon's competitive lead through initiatives such as Fresh, AWS, digital media, and faster fulfillment and product availability." The thing is, you have question Goldman's 'conviction' when the same analyst CUT the price target from $430 to $400. Publish or perish has apparently spread from academia to Wall Street's research departments.
CBS Corp. (CBS) is getting out of the outdoor advertising business. The media giant is selling its ownership of CBS Outdoor (CBSO), a move that will be tax free for CBS's U.S. investors. CBS currently owns 81 percent of the billboard advertising company. CBS Outdoor started trading as a stand-alone company in late March. After the split CBS Outdoor is expected to change its name and convert itself into a real estate investment trust. Shares of CBS were trading up nearly two percent mid-morning.
And my favorite trending ticker today, Lululemon (LULU). The stock is trending today after founder and fat shamer Dennis 'Chip' Wilson directed his ire at the company's board, voting against re-election for Chairman Michael Casey and director RoAnn Costin. Wilson claims he "found a palpable imbalance in board representation," which he said leans more toward short-term results instead of long-term goals. Wilson stepped down as Chairman of Lulu's board last year after a series of scandals and public missteps. Unfortunately for Lulu shareholders Wilson's seat on the board still gives him far more visibility than the seat of Lulu's recalled pants.
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