Nasdaq drops from record highs as tech slips

Fang de-fanged? Tech and the Nasdaq back off record highs. Plus – a new report on the Tesla autopilot crash in California weighs on shares – we have the details. Plus – Amazon shaking up the sports TV landscape across the pond, are the NFL, NBA, and MLB next? Plus – market research guru Michael Batnick breaks down the market, and the biggest mistakes world class investors make. Catch The Final Round at 3:55 ET p.m. with Jen Rogers, Yahoo Finance markets correspondent Myles Udland, and Rick Newman.

Winners and losers

Stocks in the red include United Natural Foods which beat on revenue, but margins slipped due to higher freight rates and a shift toward lower-margin shoppers; TrueCar as Goldman Sachs downgraded the car-buying service to Sell, citing increased competition; and J.M. Smucker, with shares getting jammed as the food company’s full-year profit forecast missed the mark, as it spends heavily on marketing and deals with rising costs.

Stocks in the green include Allergan on reports activist investor Carl Icahn acquired a small stake in the drug maker; Vail Resorts as the ski resort operator beat on profit and revenue as season pass sales were up 12% compared to a year ago; and Costco, with shares of the warehouse club on the rise as it reports May comp sales were up over 11%, beating Street estimates by nearly 4%.

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