Tech Five: Amazon shares down on Prime Day

In commemoration of Amazon's 20th birthday, the e-commerce giant offered wide spread sales across its website in an event called Prime Day. However, the early deals this morning had some customers wondering if this event was worth all the hype (and the $99 price tag for their Prime membership).

Let's take a look at the tech stocks to watch Wednesday:

Amazon (AMZN): Amazon likened Prime Day to Black Friday, and according to a preview of some deals Tuesday, Amazon is supposedly offering discounts on LED and HDTVs. But some members still seemed unimpressed by the selection they were offered. Company shares were down during afternoon trading.

Twitter (TWTR): Shares of Twitter rose about 8% after a news fake article began circulating online from a site called bloomberg.market, which purported that Twitter was fielding a buyout offer. Following the sudden spike, Twitter shares fell back down about 20 minutes later. The U.S. Securities and Exchange Commission is looking into the story's origin.

Netflix (NFLX): All Netflix shareholders were given an additional six shares of stock after the seven-for-one stock split Tuesday. New shares were trading at about $100 during Wednesday morning trading. Netflix is expected to release its earnings after market close Wednesday.

Micron Technology (MU): Company shares jumped Tuesday after a Chinese chip design maker, Tsinghua Unigroup reportedly submitted a $23 billion bid for Micron Technology, according to The Wall Street Journal. However, if the Chinese chip-design company actually wants to acquire the US chip maker, it's likely going to need to increase its bid. Shares of Micron Technology were up more than 11% during Wednesday morning trading.

eBay (EBAY): EBay-owned PayPal is set to join the S&P 500 index Friday after the expected spin-off is completed, according to the Wall Street Journal. PayPal will replace offshore driller Noble Corp. in the S&P 500, says the report.

Follow Trisha Thadani on Twitter: @TrishaThadani