(Bloomberg) — Amazon.com Inc. is laying off more than 17,000 employees — a significantly bigger number than previously planned — in the latest sign that a technology slump is deepening, according to the Wall Street Journal. The cuts, which began last year, were previously expected to affect about 10,000 people. The reduction is concentrated in […]
Read More(Bloomberg) — With recession fears mounting—and inflation, the war in Ukraine and the lingering pandemic taking a toll—many tech companies are rethinking their staffing needs, with some of them instituting hiring freezes, rescinding offers and making rounds of layoffs. Amazon.com Inc. was the latest company to discuss its belt-tightening efforts this week. During its quarterly […]
Read More(Bloomberg) — Amazon.com Inc., stuck with too much warehouse capacity now that the surge in pandemic-era shopping has faded, is looking to sublet at least 10 million square feet of space and could vacate even more by ending leases with landlords, according to people familiar with the situation. The excess capacity includes warehouses in New […]
Read More(Bloomberg) — The historic rout in Amazon.com Inc.’s shares last week highlights how difficult the environment has become for e-commerce stocks after their pandemic-driven boom, with investors set for another rollercoaster in coming days. Etsy Inc., Wayfair Inc. and Shopify Inc. are hurtling toward earnings reports this week in the shadow of Amazon’s worst selloff […]
Read More(Bloomberg) — Shopify Inc. has been called “Amazon Junior.” Those shoes are proving too big to fill. Both companies are seen as bellwethers for the e-commerce sector and they are index heavyweights, too: Shopify is 3.1% of Canada’s benchmark stock index and Amazon.com Inc. is 3.7% of the S&P 500. Unfortunately for Shopify investors, that’s […]
Read More(Bloomberg) — Amazon.com Inc. said it closed the $8.5 billion acquisition of film studio Metro-Goldwyn-Mayer after regulators declined to challenge the deal, cementing the company’s biggest takeover in five years. The closing, announced Thursday in a statement on the company’s website, marks the latest deal by a U.S. technology giant to win approval despite criticism […]
Read More(Bloomberg) — Amazon.com Inc. is planning to split its stock for the first time in more than two decades in a move that would spell the end of four-digit stock prices for the biggest U.S. technology companies. The e-commerce giant plans to boost its outstanding shares by a 20-to-1 ratio, under a plan disclosed late […]
Read More(Bloomberg) — Velodyne Lidar Inc. shares more than doubled in late trading after Amazon.com Inc. acquired warrants that could lead to a small stake in the auto-sensor maker. Velodyne agreed to issue to Amazon a warrant to acquire more than 39 million shares or as much as 5%, according to a filing; the warrant shares […]
Read More(Bloomberg) — Amazon.com Inc. is more than doubling the maximum base salary it pays employees to $350,000 from $160,000, the company told employees Monday. “This past year has seen a particularly competitive labor market, and in doing a thorough analysis of various options, weighing the economics of our business and the need to remain competitive […]
Read MoreAmazon.com Inc. gave the market back what Meta Platforms Inc. took away — or at least a big chunk of it. The e-commerce giant’s shares surged 14% on Friday, adding about $191 billion in market value, after investors cheered its fourth-quarter earnings report. The advance was the biggest single-day gain in U.S. stock market history, […]
Read More(Bloomberg) — When Amazon.com Inc. announced it was raising the price of its Prime program, the company said an annual subscription would climb $20 to $139. But slightly more than half of Prime members will end up forking over almost $180 a year. That’s because they pay each month, a fee that’s rising to $14.99 […]
Read More(Bloomberg) — Amazon.com Inc. reported a a strong holiday quarter, calming Wall Street’s concerns that the company was headed for a slowdown. Profit beat expectations, helped by the cloud-computing division, and investors cheered a price hike for the company’s Prime subscription service. The shares jumped about 18% in extended trading. Fourth-quarter sales increased 9.4% to […]
Read MoreAmazon’s (AMZN) stock has had a rough 12 months. While the S&P 500 has gained as much as 24% and Microsoft (MSFT) has jumped 48%, Amazon’s stock has risen just 4%. But at least one analyst believes the stock is set for a rebound in the second half of 2022. “This is a company that […]
Read MoreOne of the biggest investing stories last year was the explosive growth in e-commerce. Amid lockdowns, working from home, and the general move toward digital transactions over the last few years, the retailers that were best equipped to book transactions online made the biggest gains. Now that the initial impact of the pandemic is roughly […]
Read MorePlus, Affirm is partnering with Amazon to offer its payment solution to Amazon shoppers spending over $50, Astra shares dropped after the company’s weekend launch attempt failed, and Reddit traders have a new meme stock in Support.com.
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