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☆ Amazon stock has 17% upside as earnings reveal a 'new era' of profits for the tech titan, Bank of America says
▼ + stars: | 2024-05-01 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Bank of America boosted Amazon's price target after earnings to $210, eyeing 17% upside from Wednesday's price levels. Amazon's Q2 guidance slightly fell short of Wall Street's expectations, but Bofa still sees upside ahead. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAmazon stock could soar as its latest earnings herald a "new era" of profits for the tech behemoth, according to Bank of America. On the guidance front, Amazon expects Q2 net sales to range between $144.0 billion and $149.0 billion, 2.5% below the estimated $150.21 billion.

Persons: Bofa, —, Justin Post, BofA Organizations: of America, Service, Bank of America . Bank of America, Amazon

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Persons: Taylor Swift's, we've, Swift's, you'll Organizations: Business, Department, Poets Department, Target, Spotify, Apple, Amazon

☆ Insiders break down Amazon's sports strategy and the low-key but powerful exec behind it, as the tech giant eyes NBA rights
▼ + stars: | 2024-03-29 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

One of them is Jay Marine, who oversees Amazon's sports business as VP of Prime Video and global head of sports. Chris Graythen/Getty ImagesMarine's next move could be for the NBA, which Amazon craves for its young, global fan base. Advertisement"For us, everything starts with Prime," Marine told CNBC in a rare interview last fall. AdvertisementApart from its big bet on "TNF," Amazon's sports moves have been largely incremental. The deal lets Diamond continue airing local NBA broadcasts, which makes it more likely Amazon will bid for national NBA rights, analyst Ben Thompson of Stratechery wrote.

Persons: —, Jeff Bezos, Jay Marine, Bezos, Andy Jassy, Chris Webber, Tyrone Wheatley, scrappy, Chris Graythen, Ben Thompson, Stratechery, Marine, Patrick Crakes, it's, Marie Donoghue, Mike Hopkins, Amazon's, John Kosner, Donoghue, Kantar, signups, He's Organizations: Service, Marine, Business, US, Premier League soccer, Industry, The, Sports, WBD, NASCAR, NBC, NBA, Amazon, Disney, Warner Bros, Discovery, Apple, Netflix, CNBC, Amazon MGM Studios, Premier Boxing Champions, Diamond Sports, Diamond, Premier League, WNBA, National Women's Soccer League . Media, ESPN, DraftKings, Warner Bros . Locations: London, The New Jersey, Amazon

☆ Walmart and Amazon face legal trouble for using a points system to track and fire employees over absences: lawyers
▼ + stars: | 2024-02-21 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +18 min

AdvertisementWalmart would not provide details on its points-based attendance system to Business Insider. AdvertisementSimilar to Walmart's policy, Amazon uses a points-based attendance system that could land employees in hot water if they hit eight points in a rolling 60-day period, according to the company. Many companies, including mid-size ones, have started to implement a points-based system to track lateness and absences, Zambrano noted. Amazon disputed the description of its points-based attendance system as totally "automated." "The attendance system works very similar to a standard time clock system," Stephenson, Amazon's spokesperson, told Business Insider.

Persons: Ron Zambrano, Zambrano, Lizzo, Nick Yasman, Yasman, Kelly Hellbusch, Hellbusch, Julio Cortez, Sam Stephenson, Stephenson, There's, Patricia Caputo, " Caputo, Caputo, Artur Widak, Amazon, Caputo wasn't, Mekaliah Torres, Torres, David Wagner, Wagner, Larreon Murphy, Murphy, they're, Elizabeth Gedmark, Gedmark Organizations: Walmart, Trial, Amazon, Business, West Coast, Lawyers, Employees, West Coast Trial, AP, United, Zambrano , West, California's Kern County Superior Court, Superior Court, California's Riverside County Superior Court, California's Sacramento County Superior Court Locations: California, Amazon, New York, Zambrano ,, California's Kern County, California's Fresno, California's Riverside County, California's Sacramento County

☆ Tech stocks fuel market surge as jobs report underscores economy’s resilience
▼ + stars: | 2024-02-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —US stocks rose on Friday as investors continued to parse strong tech earnings and a searing jobs report, leading shares of Nvidia, Meta Platforms and Microsoft to close at fresh highs. The S&P 500 gained 1.1% to reach a record-high close. Tech stocks were the winners of Friday’s session, following strong earnings reports from Meta Platforms and Amazon the prior evening. Amazon shares rose 7.9% after the e-commerce giant reported solid earnings for its latest quarter. Microsoft shares rose 1.8% to a fresh record-high close of $411.22.

Persons: market’s, Jerome Powell, ”, Louis Navellier, Russell, Janet Yellen Organizations: New, New York CNN, Nvidia, Meta, Microsoft, Dow, Nasdaq, Bureau of Labor Statistics, Fed, Navellier, Associates, Traders, Banking Committee, New York Community Bancorp Locations: New York

☆ Amazon entertainment layoffs stir 4 big questions for insiders about the tech giant's Hollywood ambitions
▼ + stars: | 2024-01-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

The layoffs hit Prime Video and the Amazon MGM Studios division, with many of the cuts related to Amazon's $8.5 billion acquisition of MGM in 2022, the second biggest deal in the tech giant's history. The layoffs, combined with other factors straining the entertainment business — from strikes to content spending pullbacks — have heightened concerns about the future of the company's entertainment ambitions. These are the questions that came up the most about that future, according to conversations with six people close to Prime Video and Amazon MGM Studios. As part of the layoffs, two MGM teams were integrated under Chris Brearton, a business-side exec who joined Amazon with the MGM acquisition in 2022. How will sports impact original content spending?

Persons: what's, Jen Salke, Freevee, didn't, Who's, Chris Brearton, Salke, Mike Hopkins, What'll, there's Organizations: Amazon, Amazon MGM Studios, MGM, Amazon's, Hollywood Reporter, Hollywood, Diamond Sports, MLB, NHL, NBA Locations: Salke, Africa, MENA, Northern, Central

☆ Amazon sued by three employees who allege gender discrimination and 'chronic' pay inequity
▼ + stars: | 2023-11-20 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

The Amazon Spheres, part of the Amazon headquarters campus, right, in the South Lake Union neighborhood of Seattle, Washington, U.S., on Sunday, Oct. 24, 2021. Three Amazon staffers sued their employer on Monday alleging gender discrimination and accusing the company of retaliation after they complained of "chronic pay inequity issues." He added that Amazon doesn't tolerate discrimination in the workplace, and it investigates all reported incidents of such behavior. The complaint was filed by Outten & Golden, the same New York law firm that represented a Google executive in her successful gender bias lawsuit, as well as Uber software engineers who sued the company for gender and racial discrimination. Amazon has faced allegations of gender and racial discrimination from tech and corporate workers in recent years.

Persons: Caroline Wilmuth, Katherine Schomer, Erin Combs, Wilmuth, Schomer, Combs, Brad Glasser, Loretta Lynch Organizations: South Lake Union, Amazon, Human Resources Department, Western, of Washington, Outten Locations: South Lake, Seattle , Washington , U.S, U.S, York

☆ These 10 brands have the highest customer loyalty—Apple isn’t in the top 3
▼ + stars: | 2023-09-06 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

The company's "Customer Loyalty Index" evaluated Fortune 100 companies across a series of six metrics, excluding 40 companies that lacked sufficient data or didn't interact directly with customers. 3 company, semiconductor giant Intel, featured "some of the lowest volumes of customer service and complaint-related searches," said the report. 4, has long been known for having a cult-like fanbase, but "surprisingly" suffered in the customer service department, the report said. That means people searched online more for Apple-related support questions than most other Fortune 100 companies, DesignRush added. Coca-Cola "has some of the most satisfied customers, with some of the fewest customer service and complaint-related searches," said the report.

Persons: Johnson, DesignRush, Warren Buffett Organizations: Google, Lowe's Intel Corporation Apple, Cola Company PepsiCo, Allstate Corporation Microsoft Johnson, Home Depot, Intel, Apple, Microsoft, Cola, PepsiCo Locations: DesignRush

The U.S. Justice Department and Federal Trade Commission (FTC) have mounted an unprecedented number of legal challenges to mergers since Biden came to office in 2021. The Justice Department lost a merger in the insurance industry but won an effort to stop a book publisher merger. Deal advisers said companies had already braced for a tough antitrust regime under Biden and some had been emboldened by the regulators' recent court losses. "The (regulators' guidelines) do provide more transparency but that transparency also reveals some concerns that they are quite hostile to consolidation. The new antitrust guidelines also reflect the White House's focus on labor issues.

Persons: Gonzalo Fuentes, Joe Biden's, Biden, Department's, Kenneth Schwartz, Flom, Fiona Schaeffer, Milbank, Elizabeth Warren, Warren, Diane Bartz, Richard Chang, Chizu Nomiyama, Daniel Wallis Organizations: Viva Technology, Porte de, REUTERS, U.S . Justice Department, Federal Trade Commission, Microsoft, Activision Blizzard Inc, FTC, Meta, Justice Department, JetBlue Airways, Spirit Airlines Inc, Amazon.com, Amazon, Flom LLP, Global, LSEG, Intelligence, Democrat, Congress, Thomson Locations: Porte, Paris, France, WASHINGTON, Skadden, Slate

☆ Spain antitrust watchdog fines Amazon and Apple $218 million
▼ + stars: | 2023-07-18 | by ( ) edition.cnn.com time to read: +2 min

Spain’s antitrust regulator has imposed fines worth a total of €194.1 million ($218 million) on Amazon and Apple for colluding to restrict competition on the Amazon website in Spain. Apple was fined €143.6 million ($161.4 million) and Amazon €50.5 million ($56.7 million). “The two companies restricted without justification the number of sellers of Apple products on the Amazon website in Spain,” CNMC said. More than 90% of the retailers that were using Amazon’s marketplace to sell Apple devices were blocked as a result, it added. That action initially saw them facing €200 million ($224.8 million) in fines before it was eventually dropped.

Persons: Apple, ” CNMC, iPhones Organizations: Apple, Amazon, Reuters Locations: Spain, Italy

☆ The Investing Club's top 10 things to watch in the stock market Monday
▼ + stars: | 2023-06-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Goldman raised its price target to $248 a share, from $185. UBS lowered its price target on Modera stock to $191 a share, from $221. BMO raised its price target on SHW stock to $275 a share, from $269. Wells Fargo on Monday initiated coverage on Brinker International (EAT) with an underweight, or sell, rating and $31-per-share price target. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Goldman Sachs, Goldman, Roth MKM, Sherwin, Williams, Morgan Stanley, Eli Lilly, LLY, Jim Cramer's, Jim Cramer, Jim Organizations: Sunday, UBS, BMO Capital, BMO, Monday, Club, Palo Alto Networks, American Diabetes Association, Brinker, JPMorgan, Wynn Resorts, WYNN, Jim Cramer's Charitable, CNBC Locations: Covid, cybersecurity, Wells Fargo, Las, Macao, China

☆ Analysts see A.I. as a double-edged sword for 3 big tech stocks. We're more optimistic
▼ + stars: | 2023-06-26 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Alphabet The news: Analysts at UBS lowered their rating on Alphabet to neutral from buy but increased their price target to $132 per share from $123. Analysts expect the company's use of generative AI to be the "next leg to shares," and its use of AI tools should help the company "be viewed as an AI winner." Though Meta shares fell 3.5% to $278 each Monday. Reacceleration of revenue growth at Amazon's cloud unit, Amazon Web Services (AWS) into the fourth quarter of this year, should be a catalyst for the stock, analysts said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Eric Schmidt, Jim, We're, Meta, Mark Zuckerberg, there's, Zuckerberg, Roth, Jim Cramer's, Jim Cramer, Sebastien Bozon Organizations: CNBC, Nasdaq, UBS, Google, Club, Microsoft, Facebook, Meta, Apple, Amazon Web Services, AFP, Getty Locations: Mulhouse

☆ Jim Cramer looks at what investors can do as Wall Street enters 'profit-taking mode'
▼ + stars: | 2023-06-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. 'Profit-taking mode' Wall Street was lower Wednesday, as investors monitored Federal Reserve Chairman Jerome Powell's congressional testimony. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome, Powell, haven't, Jim, Jim Cramer's Organizations: CNBC, Federal, House Financial Services, Investors, The Federal Trade, Amazon, Amazon Prime, Constellation Brands, Citigroup, Corona, Modelo, Constellation Locations: U.S

☆ Amazon fires Alabama warehouse worker who led union push
▼ + stars: | 2023-06-02 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +3 min

And I’ve given every fiber of my soul into organizing Amazon these past three years,” Bates said in a statement Friday. Amazon workers at a New York warehouse voted to form the company’s first US union last year, though Amazon has since refused to recognize the union or come to the bargaining table. Other efforts to unionize Amazon facilities, including one across the street from the New York warehouse, have failed. The closely-watched union election at the Bessemer facility ended with the results too close to call due to hundreds of challenged ballots. “Amazon’s behavior must not go unchallenged, and workers in Bessemer, Alabama must have their rights protected under the law.”

Persons: Jennifer Bates, “, I’ve, ” Bates, ”, Bates “, Bates, ” Mary Kate Paradis, we’ve, Stuart Appelbaum, Appelbaum, ” Appelbaum Organizations: CNN, Wholesale, Department Store Union, Amazon, National Labor Relations Board Locations: Alabama, Bessemer , Alabama, United States, New York, Amazon

☆ These Are the Best Pillows for Stomach Sleepers
▼ + stars: | 2023-05-03 | by ( ) www.wsj.com time to read: +16 min

By Lisa LombardiIf you’re a stomach sleeper, you’ve likely shopped for squishy, soft pillows in the past. That’s why finding the ideal pillow for stomach sleepers can prove to be difficult. It cushioned my head without allowing it to collapse into the mattress, like some other soft pillows do. Best upgrade pillow for stomach sleepersCozy Earth Silk Pillow $224 at Cozy Earth $ 299 Save $ 75 Silk-filled with a breathable bamboo cover, this pillow is a luxe pick for stomach sleepers who tend to overheat while they sleep. This flexibility proves particularly helpful for stomach sleepers, since getting the right loft is important to avoiding neck discomfort.

☆ Bernie Sanders jabs Joe Biden for not replying when asked to fulfill his promise to halt federal contracts for anti-union employers
▼ + stars: | 2023-02-21 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +2 min

Sanders liked Biden's campaign promise to halt federal contracts for anti-union employers. Sanders criticizes Biden for not responding to his request that he follow through on the promise. He reminded Biden of his campaign promise to "institute a multi-year federal debarment" for employers illegally opposing unions and ensuring federal contracts only go to employers who agree to not run anti-union campaigns. "That campaign promise was exactly right. He called Amazon the "poster child as to why this anti-union busting Executive Order is needed now more than ever."

☆ Sonos, Therabody and Dyson: Best online sales right now
▼ + stars: | 2023-02-07 | by ( Caroline Curran | ) edition.cnn.com time to read: +6 min

No matter which model you choose, you’ll save on a device perfect for athletes and anyone else who appreciates at-home relaxation. Right now you can save up to $170 at Therabody, including savings on the Theragun Pro and Mini. Sonos Home Theater Sale Sonos Arc Sonos In the world of premium speakers, Sonos is always a top contender — and now through Feb. 12, you can score up to $280 off select home theater speakers. Tocess Claw Clips $19 $8 at Amazon Amazon Keep your hair out of the way with a chic claw clip. • Save on our favorite affordable headphones right now — the over-ear Soundcore Anker Life are just $45 right now.

☆ Dyson, Everlane and AirPods Pro 2: Best online sales right now
▼ + stars: | 2023-02-06 | by ( Caroline Curran | ) edition.cnn.com time to read: +5 min

Lowest Price AirPods Pro 2 $249 $199 at Amazon Apple Three years after debuting — and landing in the ears of seemingly everyone you know — Apple’s mega-popular AirPods Pro have finally gotten a refresh. Available now, the AirPods Pro 2 offer major upgrades like improved active noise cancellation (ANC), a wider range of fit options, more expansive touch controls and longer battery life. Right now, the second-gen AirPods Pro are at their lowest price yet of $199, so order now at Amazon to save on these pricey earbuds. Lowest Price Dyson Supersonic Hair Dryer $460 $400 at Amazon Dyson In addition to making your floors spotless, Dyson is a pro at styling your strands with its range of hair tools. And right now, you can snap up a brand-new Dyson Supersonic Hair Dryer for under $400, the lowest price we’ve seen at Amazon.

☆ Here are Monday's biggest analyst calls: Tesla, Meta, Qualcomm, Zoom, Apple, Costco, Wayfair & more
▼ + stars: | 2023-01-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest Wall Street calls: MKM downgrades Zoom to neutral from buy MKM said it sees growth stalling for the video-conferencing company. Baird adds Tractor Supply as a fresh pick Baird named Tractor Supply as a fresh pick, noting it sees upside to estimates. Barclays downgrades Warner Music to equal weight from overweight Barclays said the music company's financial performance is too volatile. Jefferies naming Caterpillar a top pick Jefferies said it sees upside to estimates for shares of Caterpillar. Barclays downgrades Tapestry to equal weight from overweight Barclays said it's concerned about a "negative promotional inflection" for Tapestry .

Shares of Alphabet, which had plunged by nearly 39% in 2022, rose more than 5% on the news to $98.02. Like many big technology firms, Alphabet overhired during the height of the Covid pandemic to meet burgeoning demand. AMZN 1Y mountain Amazon (AMZN) 1-year performance The Club view: Amazon did not go far enough in its cost-cutting efforts. Bottom line Alphabet and other Big Tech players can't control the tough economic environment, but they can control how they manage expenses. Google parent company Alphabet will report first quarter earnings today after the closing bell.

☆ Need to return an Amazon purchase? The ecommerce giant has doubled its return options.
▼ + stars: | 2023-01-13 | by ( Dennis Green | Mary Meisenzahl | ) www.businessinsider.com time to read: +3 min

Return to a UPS storeKen Wolter/ShutterstockYou can return an item to the UPS store without any packing or printing labels. Addresses in the US are eligible for free return shipping, Amazon says. Amazon generally recommends its drop-off options, but you may be required to ship returns yourself if the item is large or heavy. Drop off at Kohl'sBusiness Insider/Jessica TylerReturns at Kohl's work the same as they do at the UPS store. Return to a physical Amazon storeAP/Ted S. WarrenAmazon buyers can bring an unboxed item to return at physical Amazon stores for free using a QR code.

Amazon doesn't let you pay with PayPal directly, but you can use the PayPal Cash Card to make purchases. Since it's a debit card, not a credit card, you need to have a balance on your PayPal account to use a PayPal Cash Card. To apply for a PayPal Cash Card, simply go to this link, log in to your PayPal account, and follow the on-screen prompts. Buy Amazon gift cardsOne of the easiest ways to use PayPal to buy from Amazon is to purchase Amazon gift cards with your PayPal account. Just as with PayPal, Amazon Pay is accepted by numerous third-party retailers, letting you use Amazon payment methods beyond the immediate orbit of Amazon itself.

☆ Bank of America sees AI transforming the internet over the next five years—top stocks to ride trend
▼ + stars: | 2022-12-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Artificial intelligence will be a catalyst for big tech stocks in the next five years, according to Bank of America. However, artificial intelligence is the "backbone" of the internet and will be increasingly tied to the stock performance of big tech companies, Bank of America analyst Justin Post said. Meta also uses AI to predict what content will matter to users in their news feeds, as well as to determine suggested content in its video component, Reels. Alphabet Artificial intelligence has become Alphabet's focus across its investments, acquisitions and internal spending, Post said. Amazon The e-commerce giant uses artificial intelligence and machine learning to power Alexa, Go Store and its recommendation engine.

☆ CEOs from Kroger and Albertsons say they’re worried about competition from Amazon, but the e-commerce giant barely makes up 1% of US grocery sales
▼ + stars: | 2022-12-01 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

The CEOs of Kroger and Albertsons say their proposed merger will help them defend against Amazon. But Amazon's market share is a fraction of larger players, including both Kroger and Albertsons. But market share data suggests that a combined Kroger and Albertsons would be much larger by sales than Amazon the day the merger takes place. For all of its moves in grocery, Amazon commanded just 1.2% of sales, according to Euromonitor. The entire US grocery market represented $1.27 billion in sales last year, according to Euromonitor.

☆ Amazon's retail business is scrounging for spare change ahead of a tough holiday sales season by asking sellers for lump sums of cash and limiting inventory
▼ + stars: | 2022-11-16 | by ( Katherine Long | ) www.businessinsider.com time to read: +6 min

The company has also instituted inventory and restock limits on third-party sellers. Amazon's representative said the new restock limits were intended "to ensure a successful holiday season." "Restock limits are designed to create more capacity for sellers who are using space efficiently," the person added. Another seller said he estimated that in two weeks he wouldn't have any more inventory left in Amazon warehouses because of Amazon's inventory and restock limits. Amazon sellers have said they are feeling increasingly squeezed by the e-commerce giant's fee structures.

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