Amazon gets slammed

Wednesday July 26 by Claudia bournecnn
Amazon.com Inc. shares got walloped again Wednesday morning -- hours before the release of its second-quarter results -- after two key analysts downgraded the Internet retailer's shares in the wake of the departure of a key executive. Amazon (AMZN: Research, Estimates) sank 2-9/16 to 35-1/16 in early trade Wednesday. The decline followed Tuesday's 1-1/8 drop on news that Joseph Galli, the firm's president and chief operating officer, left the Seattle e-tailer for the business-to-business company VerticalNet (VERT: Research, Estimates).





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