Hot Stocks Of The Day (JPM, RIMM, AMZN, RAD)

Hot Stocks Of The Day (JPM, RIMM, AMZN, RAD)

JPMorgan Chase & Co. (NYSE:JPM) stock gained 0.78% to $33.76 in the pre-market hour after the company increased the capital of its China unit by 2.5 billion yuan ($394 million) to meet rising demand for financial services in the world’s fastest-growing major economy. The second infusion will bring its capital to 6.5 billion yuan.

Research In Motion Limited (USA) (NASDAQ:RIMM) shares gained 3.36% to $11.36 in the morning hour. On May 28, 2012, the company said that its chief legal officer, Karima Bawa, is leaving the company after 12 years. The company has already undertaken the search for a new chief legal officer, and that Bawa’s retirement had been in the works for some time.

Additionally, Macquarie’s analyst, Kevin Smithen, reduced his price target on shares of Research In Motion from $17.50 to $14.50. The analyst maintains a Neutral rating.

Amazon.com, Inc. (NASDAQ:AMZN) shares climbed 1.53% to $216.15 in the early hour. Amazon.com was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Monday, May 28, 2012. The firm currently has a $224.00 target price on the stock. The analysts said that Amazon.com is one of the largest online retailers in the world and the company’s decision to significantly increase the number of fulfilment centres to cater to demand across different markets will likely have a negative impact on its earnings this year. Stiff competition and the corresponding pricing pressure are also expected to continue. Hence they believe that current investments are supported by the strong balance sheet and expect them to drive the next growth phase, enabling international expansion.

Rite Aid Corporation (NYSE:RAD) shares fell 3.82% to $1.26 in the morning hour. The company’s Board has elected President, CEO John Standley as Chairman of the Board, effective June 21,2012. Standley will succeed Mary Sammons, who has served as Chairman since June, 2007, and whose term of service as Chairman, concludes as of the June annual meeting.