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Microsoft among decliners in weak tech action | |
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| Time: 11:48 EST/16:48 GMT | News Source: Market Wire | Posted By: Byron Hinson | ||
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Mild gains came from Amazon.com Inc. Wednesday, but the overall tech sector remained in the red as Deustche Bank cut its view on Microsoft Corp. and several other software companies. Amazon shares rose 2%, to $270.70 following reports that the online retailing giant will expand its grocery delivery service, AmazonFresh, to Los Angeles. Amazon currently delivers only in Seattle. Mark Mahaney, of RBC Capital Markets, said in research note that the expansion of grocery delivery makes strategic sense as part of AMZNs long standing efforts to expand into more consumer offerings and to take advantage of its low cost infrastructure advantage and expanded U.S. fulfillment center footprint. | ||
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