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Tag: AMZN News

  • After-Hours Movers: Amazon’s Impressive Performance

    After-Hours Movers: Amazon’s Impressive Performance

    During the after-hours trading session, Amazon.com Inc. (AMZN) demonstrated strong performance, attracting investor interest.

    The post-market trading involved a volume of 5.556 million shares, closing at $146.49, and the stock saw a positive change of $0.69, indicating a 0.47% increase. The overall price reached $145.80, reflecting a significant change of 2.25%.

    The US stocks after-hours activity contributed to Amazon’s impressive market cap of $1.507 trillion, representing a remarkable 46.65% growth over the past year.

    Recent Highlights

    Amazon Partners with Snapchat for Shoppable Ads

    Amazon has recently partnered with Snapchat, a popular social media platform among Gen Z, to enable direct shopping through its ads.

    Customers in the U.S. will now be able to see real-time pricing, Prime eligibility, delivery estimates, and product details on select Amazon product ads in Snapchat.

    This collaboration follows Amazon’s partnership with Meta for in-app shopping on Facebook and Instagram. By expanding its reach to different social media platforms, Amazon aims to enhance the shopping experience for its customers.

    Amazon Promotes Executive to President of Fashion & Fitness

    Amazon has promoted Jenny Freshwater to the position of President of Fashion & Fitness, replacing the outgoing president, Mudge Erdrik Dogan.

    Freshwater, a long-time Amazon employee, has held various VP-level positions within the company, including traffic and marketing technology.

    This executive change comes as Amazon focuses on its online fashion shopping experience and aims to introduce innovative technology to better serve the needs of fashion customers.

    Amazon Partners with Meta for Facebook and Instagram Shopping

    In its continued efforts to enhance the shopping experience, Amazon has partnered with Meta to allow users to buy products directly on Facebook and Instagram without leaving the social apps.

    By linking their Facebook and Instagram accounts to Amazon, users can see real-time pricing, Prime eligibility, delivery estimates, and product details on select Amazon product ads.

    This partnership enables participating users to make purchases from Amazon without having to leave the social media platforms.

    Conclusion

    During the after-hours trading session, Amazon.com Inc. (AMZN) exhibited robust performance, experiencing positive shifts in its stock price and augmented market capitalization.

    Amazon’s strategic collaborations with prominent social media platforms such as Snapchat, Facebook, and Instagram have broadened its outreach, ensuring customers enjoy a seamless shopping journey.

    The company’s dedication to innovation and substantial investments further solidifies its standing as a frontrunner in the e-commerce sector.

    Amazon’s ongoing adaptation to evolving market dynamics underscores its commitment to delivering an exceptional inter

  • Is pandemic favoring the Internet Retail Sector?

    New retail data showed that e-commerce continues to be the most popular form of purchase by consumers. Those statistics triggered a rally on Wednesday for shares of e-commerce companies.

    According to a US Census Bureau report, e-commerce purchases were up 29% in November compared to the same period of the previous year. Retail Metrics analyst Ken Perkins said it represented the biggest monthly increase for e-commerce since 2010 and was the seventh consecutive month of growth exceeding 20%. Shopify Inc. has risen as much as 8.4%, while eBay has risen by 5.4%. Etsy Inc. and Amazon.com Inc. both had gains of at least 2%.

    Perkins wrote in a report that e-commerce is still “dominant in the retail landscape.” He stated that the Centers for Disease Control and Prevention’s recommendation to avoid enclosed shopping areas and the record number of deaths related to Covid-19 have “driven consumers to use contactless payments in record amounts.”

    Jumia Technologies AG (NYSE:JMIA) shares were trading up 8.27% at $39.29 at the time of writing on Wednesday. The company on December 3, 2020 declared the completion of its At The Market offering.

    Jumia Technologies AG (NYSE:JMIA) share price went from a low point around $2.15 to briefly over $40.90 in the past 52 weeks, though shares have since pulled back to $39.29. JMIA market cap has remained high, hitting $3.16B at the time of writing, giving it price-to-sales ratio of more than 10.

    If we look at the recent analyst rating JMIA, Stifel downgraded coverage on JMIA shares with a Hold rating and a $16.71 price target, which implies room for -22.58% downside momentum this year.

    Alibaba Group Holding Limited (BABA) last closed at $261.89, in a 52-week range of $169.95 to $319.32. Analysts have a consensus price target of $338.48.

    eBay Inc. (EBAY) stock soar by 3.01% to $53.65. On December 8, 2020, the company announced that it is introducing a low cost way for sellers to securely ship trading cards. The most recent rating by Piper Sandler, on September 25, 2020, is at an Overweight.

    JD.com Inc. (NASDAQ:JD) Shares headed rising, higher as much as 2.86%. The most recent rating by Barclays, on August 24, 2020, is at an Overweight.

    Vipshop Holdings Limited (NYSE:VIPS) fall -1.16% after losing more than -$0.29 on Wednesday.

    Farfetch Limited (FTCH) last closed at $60.91, in a 52-week range of $5.99 to $61.65. Analysts have a consensus price target of $54.56.

    Chewy Inc. (CHWY) stock soar by 3.28% to $94.12. The most recent rating by Piper Sandler, on November 13, 2020, is at an Overweight. The firm on December 9, 2020 released its financial results for the third quarter of fiscal year 2020 ended November 1, 2020.

    Overstock.com Inc. (NASDAQ:OSTK) Shares headed rising, higher as much as 5.09%. The company declared on December 14, 2020, that it was recently recognized in the seventh annual Loyalty360 Awards for its innovation in technology and for its employee engagement with customers and with associates throughout the company. The most recent rating by Wedbush, on September 16, 2020, is at an Outperform.

    Amazon.com Inc. (NASDAQ:AMZN) rose 2.40% after gaining more than $75.84 on Wednesday. The company today reported that it’s here to help make buying – and returning – even more stress-free and convenient as possible this holiday season.

    Etsy Inc. (ETSY) last closed at $182.34, in a 52-week range of $29.95 to $179.93. Analysts have a consensus price target of $163.29.

    Pinduoduo Inc. (PDD) stock soar by 2.42% to $145.47. On December 15, 2020, the firm reported that it was named a pioneer in digital agriculture at a major conference, with its “cloud agriculture” model recognized as one of the top 10 achievements in digital agriculture in the world. The most recent rating by Nomura, on November 16, 2020, is at a Buy.

    CarParts.com Inc. (NASDAQ:PRTS) Shares headed falling, lower as much as -4.44%. The company recently announced that CEO Lev Peker and CFO/COO David Meniane have been named silver medal winners in the Executive of the Year and Operations Executive of the Year for mid-sized companies categories in the Best in Biz Awards. The most recent rating by ROTH Capital, on September 09, 2020, is at a Buy.

    Dada Nexus Limited (NASDAQ:DADA) rose 4.02% after gaining more than $1.49 on Wednesday. DADA recently announced the launch of “Warm Winter Plan” across China to ensure delivery riders’ safety and health during the winter season.

    Mercurity Fintech Holding Inc. (MFH) last closed at $3.05, in a 52-week range of $1.00 to $5.20. The company on November 27, 2020 declared its unaudited financial results for the third quarter ended September 30, 2020.

    Qurate Retail Inc. (QRTEA) stock soar by 1.35% to $10.52. The company on November 20, 2020 declared special cash dividend of $1.50 per common share and announced commencement of share buyback program. The most recent rating by Citigroup, on December 15, 2020, is at a Neutral.

  • The European Commission charged Amazon.com (AMZN) for abusing competition rules

    The European Commission charged Amazon.com (AMZN) for abusing competition rules

    Amazon faced European union charges for using its dominant position to gain an unfair advantage over competitors. The commission said that Amazon had used data on third-party sellers that use its marketplace to boost sales of its own-label goods.

    The commission is also investigating another complaint about possible favor given to the sellers who use Amazon logistics services. In response to the charges, Amazon rejected the allegations and said that no one could do more care for small business more than what Amazon is doing.

    The tech giant is now facing a potential fine as high as 10% of its global turnover if it is found guilty of breaching competition law. The investigations were started in July after several complaints were lodged from traders.

    The EU’s Competition Commissioner Margrethe Vestager said that it is important that the platforms with market power did not destroy the competition. She further explained that the Data on the activity of third-party sellers should not be used to the benefit of Amazon when it acts as a competitor to these sellers.

    It is alleged that Amazon used sensitive data from small and medium-sized companies that use its platform and then use that information for the sales of its own-label products.

    Ms. Vestager talked to the press and said that We do not take issue with the success of Amazon or its size.

    Amazon refused the claims made against him and said that the company’s own-label products offered more choices to customers and it’s good for them. Amazon said that no other company has done more than what Amazon is doing to support the small businesses over the past two decades. Amazon pointed out that more than 150,000 European businesses are selling through their online marketplace.