After Market: Neither Cyber Monday Nor Amazon Drones Could Lift Stocks


A pair of great public relations campaigns had everyone talking and shopping Monday, but neither one sparked much market action.

First, it's Cyber Monday -- a fairly recent invention of the internet retail community. But while millions of people clicked the 'buy' button, that didn't lead to a ton of buying on Wall Street.

Amazone Drone Delivery
AP Photo/AmazonAmazon CEO Jeff Bezos says it will take a while (and require a new set of rules from the FAA) before the Prime Air unmanned drone could be deployed to deliver packages but he thinks it could be ready to roll out in 5 years.

Shares of Amazon (AMZN), the 800-pound guerilla of online sales, were flat. But it was the buzz of virtually every news report, after CEO Jeff Bezos told "60 Minutes" that the company is working on a plan to delivery packages by drone.

Rival eBay (EBAY) gained 1.5 percent. Revenue has been growing at its PayPal unit.

How did big retailers fare after mixed numbers on shopping for the 4-day holiday weekend? Not too hot. Walmart (WMT) was little changed and Best Buy (BBY) gained 1 percent. But Target (TGT), J.C. Penney (JCP), and Macy's (M) all lost one percent or more and Sears (SHLD) tumbled 5 percent.

And Urban Outfitters (URBN) fell 3 percent after a downgrade to 'neutral' by the brokerage firm Sterne Agee.

Cyber Monday is also a giant day for delivery companies. FedEx (FDX) gained one percent but UPS (UPS) was little changed.

As for the broad market averages, the Dow Jones industrial average (^DJI) fell 78 points, back to 16,009. The Standard & Poor's 500 index (^GPSC) gave back 5 points to 1,801, and the Nasdaq composite index (^IXIC) lost 15 to close at 4,045.

Some of the Nasdaq biggest name stocks lost ground, including Apple (AAPL), Google (GOOG), Netflix (NFLX) and Tesla (TSLA), but Microsoft gained one percent.

The big loser among the blue chips was 3M (M), down 4 percent. Morgan Stanley downgraded its rating, citing the company's lack of internal growth.

And the insurer Travelers (TRV) lost 2 percent after negative comments from Goldman Sachs. Elsewhere, Marathon Petroleum (MPC) jumped more than 5 percent. Deutsche Bank upgraded the stock to 'buy.'

Forest Labs (FRX) gained 5 percent after laying out plans to reduce its workforce and R&D budget, in an effort to cut costs.

But Shoe Carnival (SCVL) lost 5 percent after issuing a disappointing outlook for the first quarter.

What to Watch Tuesday:

  • Automakers report November vehicles sales.

-Produced by Drew Trachtenberg.