TradersHuddle Pre-Market Update - Gapping Lower ( AMZN, AAPL, F, MFE )

Published on Thursday, 15 July 2010 08:14 Written by Christian Paolinetti

New York, Jul 15^th (TradersHuddle.com) – Despite the bullish tome set by the better than expected earnings results by JP Morgan (NYSE:JPM) there is selective weakness in the pre-market. Here are some notable stocks trading lower in pre-market price action.

Amazon.com (NASDAQ:AMZN) will be opening the trading session significantly lower today as the stock is trading close to 3% lower in pre-market price action. Amazon snapped back to the 200 day moving average and today Bank of America downgraded the stock back to neutral, giving investors a reason to sell into resistance.

Apple (NASDAQ:AAPL) has struggle during this rally, as has been haunted by negative headlines regarding its new iPhone 4G antenna reception problems. Today the stock is trading close to 1% lower in pre-market, as investors speculate on what Steve Jobs could say on Apple’s iPhone 4G Friday announcement.

Ford Motor Co (NYSE:F) is also suffering some profit taking in today’s pre-market session with shares of Ford trading fractionally to the downside. Ford has had a very good run up the last 5 trading sessions where the stock has appreciated more than 11%.

Lastly, McAfee (NASDAQ:MFE) is trading close to 1% lower in today’s pre-market after RBC Capital downgraded the stock to sector perform. Shares of McAfee have greatly underperformed the overall market as they have only appreciated more than 2% in the last 5 trading sessions.