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  • Amazon.com (AMZN) giving 0 incentive to its frontline workers

    Amazon.com (AMZN) giving $300 incentive to its frontline workers

    The company revealed Thursday that Amazon is giving front-line staff a one-time incentive to express its gratitude for their efforts going into the peak of the holiday season.

    Dave Clark, Amazon’s senior vice president of retail operations, said in a blog post that full-time operations employees who are hired by the company will receive a $300 bonus from December 1 to December 31. A $150 bonus would be earned from part-time employees working within the same timeframe.

    “I’ve been to Amazon for 22 holiday seasons and to say the least, this one is definitely unique,” Clark said. “I thank our teams for continuing to play a vital role in serving their communities.”

    It will invest more than $500 million on one-time holiday payments, Amazon reported. Amazon has spent $500 million in June on “Thank You” incentives for front-line workers who continued to come to work in the wake of the coronavirus pandemic.

    Since March, the company has invested billions of dollars on improvements related to coronavirus, including pay raises, protective gear and better cleaning measures, as well as on building up research capability. At the height of the pandemic, Amazon issued temporary wage raises and double overtime pay, but all of those benefits expired in June.

    Since then, factory employees have voiced anger that even though the pandemic has continued and they also face heightened health and safety threats in the workplace, their hazard compensation has been diminished. Amazon announced in October that between March 1 and Sept. 19, more than 19,000 of its front-line staff in the U.S. contracted the coronavirus.

    In order to help meet increased demand” from internet orders, which has since stabilized, Amazon defended its decision to end wage rises and double overtime pay, saying both pay premiums were revealed.

    As the holiday buying season heats up, stores such as Walmart and Target have already paid out incentives to their staff.

  • Amazon (AMZN) apologized to customers for “Sidewalk” confusion

    Amazon (AMZN) apologized to customers for “Sidewalk” confusion

    Amazon accidentally sent an email to its U.K customers which forced the tech giant to apologize. The email was about the new service which supposed to be only for U.S customers as the new service would be available in the U.S only.

    The new Amazon service Sidewalkcan be accessed by certain Amazon-branded devices up to 500m (0.3 miles) away if the home wi-fi is out of reach or not working,

    creating a neighborhood-wide network for local devices.

    The company accidentally send the email to U.K customers as well, creating confusion.

    Amazon spokeswoman apologized on the email error and clarify that the company recently began emailing customers with Echo devices registered in the US to give them more information about Amazon Sidewalk which will be available only in the U.S.

    The sidewalk is an Amazon new service which was originally announced in 2019 which enable Amazon-branded security cameras and smart speakers can still function without a connection.

    The new update will be in the form of a software update for the U.S. customers who own such devices such as Ring security camera and Amazon Echo. The new service will be available only to specific devices.

    Sidewalk will use a small portion of internet bandwidth for the service. It can also extend the coverage for Sidewalk-enabled devices, such as Ring smart lights and pet and object trackers, so they can stay connected and continue to work over longer distances.

    The Security researcher Kevin Beaumont said that the Sidewalk will have very limited access to other people’s broadband connections.

    However, cyber-security expert from Surrey University Prof Alan Woodward criticized the Amazon Sidewalk’s security set-up and said that people should not be added to the network by default. He said that people should opt-in rather than opt-out of these things.

  • 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.

  • 20 Stocks In Internet Retail Industry To Buy In October 2020

    20 Stocks In Internet Retail Industry To Buy In October 2020

    In today’s world, the best way to capture customers’ attention is to fulfill their needs and provide them frictionless experience. The online retail industry is flourishing continuously because now the shoppers have adopted the convenience of shopping online. Increasing trends of online shopping give the internet retail industry a hope. In the US, online retail sales are projected to grow by 18% in 2020.

    New advanced technologies have also provided the shops a way to learn about the preferences of shoppers. Augmented Reality is the major game-changer in the internet retail industry as it changed the whole concept of shopping. AR has closed the gap of ambiguity and helps retailers to provide necessary information of shoppers to improve their experience.

    Here are the 20 leading companies in the online retail industry which are also following new trends to increase the growth of their business:

    Jumia Technologies AG (NYSE:JMIA)

    Jumia Technologies AG (NYSE: JMIA) shares were trading up 4.13% at $12.87 at the time of writing on Wednesday. Jumia Technologies AG (NYSE: JMIA) share price went from a low point around $2.15 to briefly over $23.90 in the past 52 weeks, though shares have since pulled back to $12.87. JMIA market cap has remained high, hitting $1.02B at the time of writing, giving it a price-to-sales ratio of more than 5.

    Jumia Technologies AG (JMIA) has earlier launched the ‘Food Festival Campaign’. This new campaign will be scheduled to take place from the 1st to the 31st of October 2020. If we look at the recent analyst rating JMIA, Stifel downgraded coverage on JMIA shares with a Hold rating and a $12.54 price target, which implies room for -0.33% downside momentum this year.

    Alibaba Group Holding Limited (NYSE: BABA)

    Alibaba Group Holding Limited (NYSE: BABA) last closed at $301.04, in a 52-week range of $168.12 to $310.01. Analysts have a consensus price target of $314.57. Alibaba Group Holding Limited (BABA) has earlier announced that it has decided to buy a stake of up to 9.99% in Swiss duty-free Dufry. Alibaba and Dufry both have decided to collaborate to search for new opportunities in China. This company market capitalization has remained high, hitting $816.68 billion at the time of writing.

    eBay Inc. (NASDAQ: EBAY)

    eBay Inc. (NASDAQ: EBAY) fall -1.96% after losing more than -$1.13 on Wednesday. eBay Inc. (EBAY) disclosed the expansion of its Authenticity Guarantee service for sneaker sales on the platform. Through this program, all new and pre-owned collectible sneakers sold on eBay for over $100 in the U.S. will be fully vetted and verified by an independent team of industry experts.

    Amazon.com Inc. (NASDAQ: AMZN)

    Amazon.com Inc. (NASDAQ: AMZN) last closed at $3363.71, in a 52-week range of $1626.03 to $3552.25. Analysts have a consensus price target of $3726.61. Amazon.com Inc. (AMZN)  has reportedly made a deal with the National Football League to stream a wild-card playoff game this season. The information related to the team was not disclosed yet but the expectations are higher this time.

    Qurate Retail Inc. (NASDAQ: QRTEA)

    Qurate Retail Inc. (NASDAQ: QRTEA) fall -2.05% after losing more than -$0.16 on Wednesday. Qurate Retail Inc. (QRTEA) announced that it will be scheduled to discuss the results for the third quarter of 2020 on Thursday, November 5th. After the closing of the market on Wednesday, November 4th the company will post its 2020 results of quarter three.

    Etsy Inc. (NASDAQ: ETSY)

    Etsy Inc. (NASDAQ: ETSY) last closed at $149.97, in a 52-week range of $29.95 to $154.73. Analysts have a consensus price target of $153.12. Etsy Inc. (ETSY) has disclosed earlier that it is scheduled to announce the Third quarter 2020 financial results on October 28, 2020. Etsy will also host a conference call to discuss the results. If we look at its liquidity, it has a current ratio of 4.30.

    Overstock.com Inc. (NASDAQ: OSTK)

    Overstock.com Inc. (NASDAQ: OSTK) shares headed falling, lower as much as -4.13%. The most recent rating by Wedbush, on September 16, 2020, is at an Outperform. Overstock.com Inc. (OSTK) has announced that it will offer its customers 36 hours of massive markdowns on more than one million top-rated products. With an ongoing commitment to quality and value, Customer Day celebrates Overstock shoppers offering consumers 70% off on thousands of home furnishings and home improvement items.

    Wayfair Inc. (NYSE: W)

    Wayfair Inc. (NYSE: W) last closed at $293.88, in a 52-week range of $21.70 to $349.08. Analysts have a consensus price target of $309.60. Wayfair Inc. (W) has announced the schedule for the financial results of its third quarter. It is scheduled to announce the financial results of the third quarter ended on September 30, 2020.  It will also hold a conference call to review the result on November 9.

    Fiverr International Ltd. (NYSE: FVRR)

    Fiverr International Ltd. (NYSE: FVRR) shares headed falling, lower as much as -0.93%. The most recent rating by MKM Partners, on August 27, 2020, is at a Neutral. Fiverr International Ltd. (FVRR) disclosed the pricing of $400 million aggregate principal amount of 0% Convertible Senior Notes due 2025 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.

    Carvana Co. (NYSE: CVNA)

    Carvana Co. (NYSE: CVNA) last closed at $213.22, in a 52-week range of $22.16 to $242.15. Analysts have a consensus price target of $215.19. Carvana Co. (CVNA) will report its third-quarter 2020 financial results for the period ended September 30, 2020, following the close of the market on Thursday, October 29, 2020. On that day, management will hold a conference call and webcast at 5:30 p.m. ET (2:30 p.m. PT).

    Baozun Inc. (NASDAQ: BZUN)

    Baozun Inc. (NASDAQ: BZUN) stock drop by -2.51% to $34.94. The most recent rating by Credit Suisse, on June 03, 2020, is at an Outperform. Scott+Scott Attorneys at Law LLP, an international shareholder, and consumer rights litigation firm, is investigating whether Baozun Inc. or certain of its officers and directors violated federal securities laws

    JD.com Inc. (NASDAQ: JD)

    JD.com Inc. (NASDAQ: JD) stock drop by -1.83% to $81.10. The most recent rating by Barclays, on August 24, 2020, is at an Overweight. JD.com Inc. (JD) share price went from a low point around $29.74 to briefly over $86.58 in the past 52 weeks, though shares have since pulled back to $81.10. JD market cap has remained high, hitting $125.19 billion at the time of writing.

    Vipshop Holdings Limited (NYSE: VIPS)

    Vipshop Holdings Limited (NYSE: VIPS) shares headed falling, lower as much as -3.32%. The most recent rating by Morgan Stanley, on September 28, 2020, is at an Underweight. Vipshop Holdings Limited (VIPS) shares have changed between the 52-weeks low and high range of $9.03 and $24.46, respectively. It has moved up 90.03% from its 52-weeks low and moved down -29.84% from its 52-weeks high. This company market capitalization has remained high, hitting $11.34 billion.

    Pinduoduo Inc. (NASDAQ: PDD)

    Pinduoduo Inc. (NASDAQ: PDD) stock drop by -2.35% to $82.66. The most recent rating by Barclays, on August 24, 2020, is at an Equal-weight. Pinduoduo Inc. (PDD) share price went from a low point around $30.20 to briefly over $98.96 in the past 52 weeks, though shares have since pulled back to $82.66. PDD market cap has remained high, hitting $91.37 Billion at the time of writing.

    Farfetch Limited (NYSE: FTCH)

    Farfetch Limited (NYSE: FTCH) shares headed rising, higher as much as 0.86%. The most recent rating by Bernstein, on September 08, 2020, is at an Mkt perform. Farfetch Limited (FTCH) shares have fluctuated between the 52-weeks low and high range of $5.99 and $31.88, respectively. It has moved up 350.25% from its 52-weeks low and moved down -15.40% from its 52-weeks high. This company market capitalization has remained high, hitting $9.19 billion.

    Chewy Inc. (NYSE: CHWY)

    Chewy Inc. (NYSE: CHWY) stock drop by -4.10% to $64.12. The most recent rating by RBC Capital Mkts, on September 11, 2020, is at an Outperform. Chewy Inc. (CHWY) share price went from a low point around $20.62 to briefly over $74.84 in the past 52 weeks, though shares have since pulled back to $62.71. CHWY market cap has remained high, hitting $25.15 Billion at the time of writing.

    Dada Nexus Limited (NASDAQ: DADA)

    Dada Nexus Limited (NASDAQ: DADA) fall -3.82% after losing more than -$1.3 on Wednesday. Dada Nexus Limited (DADA) shares have fluctuated between the 52-weeks low and high range of $14.60 and $36.14, respectively. It has moved up 127.54% from its 52-weeks low and moved down -8.07% from its 52-weeks high. This company market capitalization has remained high, hitting $6.72 billion.

    CarParts.com Inc. (NASDAQ: PRTS)

    CarParts.com Inc. (NASDAQ: PRTS) stock drop by -4.88% to $12.67. The most recent rating by ROTH Capital, on September 09, 2020, is at a Buy. CarParts.com Inc. (PRTS) share price went from a low point around $1.04 to briefly over $16.44 in the past 52 weeks, though shares have since pulled back to $12.57. PRTS market cap has remained high, hitting $598.91 Million at the time of writing.

    Revolve Group Inc. (NYSE: RVLV)

    Revolve Group Inc. (NYSE: RVLV) rose 0.16% after gaining more than $0.03 on Wednesday. Revolve Group Inc. (RVLV) shares have fluctuated between the 52-weeks low and high range of $7.17 and $24.41, respectively. It has moved up 152.58% from its 52-weeks low and moved down -25.81% from its 52-weeks high. This company market capitalization has remained high, hitting $1.31 billion.

    MercadoLibre Inc. (NASDAQ:MELI)

    MercadoLibre Inc. (NASDAQ: MELI) shares headed falling, lower as much as -2.40%. The most recent rating by Jefferies, on September 28, 2020, is at a Buy. MercadoLibre Inc. (MELI) total market capitalization has remained high, hitting $59.54 billion.