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☆ Why Amazon sellers and retailers are flocking to TikTok Shop despite looming U.S. ban
▼ + stars: | 2024-12-02 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +12 min

Beachwaver is part of a growing influx of retailers that are flocking to TikTok Shop, the video app's shopping service. "When TikTok Shop was new and people hadn't used it yet, they would ask, 'Is this on Amazon yet?'" Le Bourgeois declined to comment on the looming TikTok ban, but a company spokesperson at the event said TikTok Shop isn't slowing down. Yay's Snacks, which makes crispy Cambodian beef jerky, was one of the earliest companies to join TikTok Shop when it launched. TikTok Shop was a big topic of conversation at a conference for Amazon sellers in New York in October.

Persons: Sarah Potempa, Potempa livestreams, Potempa, TikTok, EcommerceDB, Caila Schwartz, Mira Dix, Dix, Joe Biden, Jan, Donald Trump, Trump, CNBC's, Jeff Yass, Nico Le Bourgeois, Le Bourgeois, It's, Alibaba's, Rachel Cheng, she's, Marlin Chan, Yay's, Cheng, Craig Sjodin, Aaron Krause, Krause, influencers, Vanessa Amaro, Amaro, Dan Hughes, Rafay, Michelle Barnum Smith, Barnum Smith, I've Organizations: Base, Visual China, Getty, TikTok, Nike, Amazon, CNBC, U.S, Black, Disney ABC Television, Daddy, QVC Locations: Wuhan, China, Waukegan , Illinois, Amazon, U.S, ByteDance, Manhattan, New York

☆ Will TikTok be banned? Here are the latest details on the app's legal fight to stay in the US and Trump's options
▼ + stars: | 2024-11-28 | by ( Dan Whateley | ) www.businessinsider.com time to read: +7 min

The US government is on track to force the app out on January 19, the day before Donald Trump takes office. There's a possibility that President Joe Biden could extend that deadline by 90 days, but he hasn't said he will. AdvertisementBut will a TikTok ban actually happen? While there is bipartisan support in Congress for a TikTok ban, support for a ban is fading among the American public. Some members of Congress have raised concerns that TikTok could be used as a CCP propaganda tool.

Persons: Donald Trump, Joe Biden, hasn't, Read, Amanda Perelli, TikTok, Matthew Schettenhelm, Trump, I'm, G.S, Hans, Nathan Posner, Getty Images Trump, ByteDance, John Moolenaar, Shou Chew, Chip Somodevilla Organizations: Business, Appeals, District of Columbia Circuit, DC, Bloomberg Intelligence, DC Circuit, Pew Research, Trump, Department, Congress, Cornell Law School, Washington DC, Anadolu Agency, Getty Images, Rep, Chinese Communist Party, CCP, Foreign Locations: TikTok, Los Angeles, Washington, United States, China, US

☆ Trump wants to cut corporate taxes to as low as 15%. These stocks could benefit the most, Wolfe says
▼ + stars: | 2024-11-27 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

President-elect Donald Trump has called for cutting the corporate tax rate – and a slate of companies could stand to benefit, according to an analysis from Wolfe Research. That would be a reduction from the current corporate tax rate of 21%. A corporate tax rate of 18% would increase S & P 500 earnings per share by $5, while a 15% rate would lift earnings per share by $10, he said. Senyek's team identified companies that could see the greatest impact on their earnings per share from a lower tax rate. Wolfe also highlighted Amazon in its list of companies that could benefit from a lower corporate tax rate.

Persons: Donald Trump, Chris Senyek, Wolfe, Peter Supino, Biden, Supino, LSEG, Wells, Ken Gawrelski, AMZN, Fiserv, Goldman Sachs, Trump Organizations: Wolfe Research, Trump, White House, Republicans, GOP, US, Warner Bros, Discovery, Warner, White, ., Bank of America Locations: China, Wells Fargo

☆ Chinese fast fashion may be in the line of fire in a second Trump term. Here's what Trump's tariffs could mean for Shein and Temu.
▼ + stars: | 2024-11-26 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

AdvertisementTrump's second term may not bode well for Chinese fast-fashion brands in the US. Gen Z-favorite brands like Shein and Temu will likely be hit hard by such tariffs. Donald Trump's victory in the presidential election could spell trouble for Chinese fast-fashion brands, particularly Gen Z-favorite budget brands like Shein and Temu. While campaigning this year, Trump said he would impose tariffs of 60% or higher taxes on Chinese products. AdvertisementAnd while Shein has become synonymous with fast fashion produced in China, it's facing rising competition from Temu.

Persons: bode, Gen, Temu, Donald Trump's, Trump, Liu Pengyu, PDD, David Jacks, Jacks, Lei Chen, PDD's, Jeffrey Towson, Emily Pfeiffer, Forrester, Pfeiffer, Jacob Cooke, Vox, Shein, Biden Organizations: National Retail Federation, Singapore's Yale, NUS College, TechMoat Consulting, Towson, Amazon, Bloomberg Locations: China, Bangladesh, Morocco, Temu

☆ Some of Temu's children's clothes contained up to 622 times the legal limit for toxic substances, South Korean authorities say
▼ + stars: | 2024-11-25 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

South Korean authorities said a jacket from Temu contained 622 times the legal limit for such substances. The substances include phthalate plasticizers, lead, and cadmium, which are classified as hazardous in the country. Some children's clothes from Chinese fast fashion retailer Temu contained up to 622 times the legal limit for toxic substances, the Seoul Metropolitan Government said. A jumpsuit from Temu contained 294 times the legal amount of phthalate plasticizers, the report said. AdvertisementThe same investigation revealed that sandal insoles sold by Temu contained 11 times more lead than legally permissible.

Persons: plasticizers, Temu Organizations: Seoul Metropolitan Government, Pakistan recycles, AFP, US Department of Health, Human Services, PDD Holdings, Business, Seoul Metropolitan, Bloomberg Locations: Seoul, Pakistan, South Korea, Korea

☆ Trump Tariffs: Businesses, Americans Are Preparing for Higher Prices
▼ + stars: | 2024-11-24 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

They're trying to figure out what to do. They're trying to figure out what to do. Thanks to muscle memory from the tariffs Trump imposed in 2018, he says, many businesses are speeding up their shipping schedules — racing to get as many goods as possible into the country before any new tariffs are implemented. So did dryers, even though they weren't subject to tariffs — companies figured customers would assume that two related products were subject to the same inflationary forces. Related stories"If they can accelerate big purchases they know they're going to make, they should do that," says Lovely, the senior fellow at the Peterson Institute.

Persons: Donald Trump's, I'm, I've, Jolie, Trump, Greg Daco, Mary Lovely, Ernie Tedeschi, Biden, Steve Madden, Paul Brashier, Brashier, Stephen Lamar, Mike Brey, Brey, Lindsay Owens, Tedeschi, it's, didn't, Emily Stewart Organizations: Trump . Companies, Yale Budget, Peterson Institute, Yale Budget Lab, ITS Logistics, Trump, American Apparel and Footwear Association, Hobby Works, tote, Apple Watch, Business Locations: United States, New York City, China, EY, American, Vietnam, Mexico, USA

☆ This chart shows how crazy-fast the value of Elon Musk's xAI has grown in 16 months
▼ + stars: | 2024-11-21 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

AdvertisementElon Musk's AI startup xAI has been valued at a reported $50 billion 16 months after its founding. One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion. Related Video How Elon Musk makes and spends his billionsThe chart below helps put that meteoric rise into perspective. How does that $50 billion valuation compare to the competition? It took OpenAI, last valued at $157 billion in October, around 9 years to pass the $50 billion milestone, according to PitchBook.

Persons: OpenAI, Elon Musk, — Organizations: Elon, SpaceX Locations: xAI

☆ This chart shows how crazy-fast the value of Elon Musk's xAI has risen in 16 months
▼ + stars: | 2024-11-21 | by ( Ana Altchek | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk's AI startup xAI has been valued at a reported $50 billion, 16 months after its founding. One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion. So how does that $50 billion compare to the competition? It took OpenAI, last valued at $157 billion in October, around 9 years to pass the $50 billion milestone, according to PitchBook. Musk said the process took 122 days — and the startup plans to double the amount of AI chips inside it in the coming months.

Persons: OpenAI, Elon Musk, —, It's, Grok, Musk Organizations: Elon, Perplexity, SpaceX, Twitter, Nvidia

☆ Amazon just released its Temu killer and Bank of America likes the move
▼ + stars: | 2024-11-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Bank of America sees Amazon' s discount storefront offering as a beneficial tool in fending off Temu and Shein. The e-commerce giant launched its Haul platform on the Amazon app, exclusively featuring products under $20. Bank of America analyst Justin Post said Temu and Shein's growth over the past year created a headwind of 1 percentage point for Amazon, according to an analysis of Bloomberg Second Measure data. Amazon's new offering comes as retailers have tried to compete with Temu and Shein, which are known for their low price tags. He said Amazon and these other companies could face obstacles if President-elect Donald Trump's proposed tariffs on imports come to fruition.

Persons: Justin Post, Temu, Donald Trump's, Post, LSEG Organizations: of America, Shipping, Bank of America, Amazon, Bloomberg

☆ Amazon's new discount section 'Haul' looks like a Temu version of Temu
▼ + stars: | 2024-11-14 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +4 min

I've gotta say, sadly: It's the Temu version of Temu. It's Amazon's attempt to compete with cheap e-commerce apps like Temu, Shein, and the TikTok Shop. The Haul section of Amazon's app is now in beta mode. The sweater section on Amazon's Haul section has a familiar aesthetic. But for now, to me, it just feels like a sort of crummy version of Temu.

Persons: —, Ava Max, Lady Gaga, It's, Obama, Shein, China — Organizations: Amazon, Service, Apple, Business Locations: Temu, China, Utah

Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. This time around, Trump's tariff proposals on Chinese imports could help Amazon in its competition against low-price online sellers Temu and Shein. Salesforce : Not a Trump stock, but it wasn't a Kamala Harris stock either. Constellation Brands : The Mexican beer importer has been punished on fears about what Trump's tariff and immigration proposals could do to its business. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, Donald Trump's, Trump's, Abbott, Trump, Hock Tan, Tan, We'll, it's pricier, Morgan Stanley, Wells, Kamala Harris, Agentforce, That's, Biden, Dover, Eaton's, Elon, Waymo, JD Vance, we've, Linde, that's, Eli Lilly, Robert F, Kennedy Jr, Kennedy, Lilly, Mark Zuckerberg, Zuckerberg, Goldman Sachs, shouldn't, Nextracker, Brian Niccol, Niccol, Stanley Black, Decker, TJ Maxx, Wells Fargo, Jim Cramer Organizations: Jim Cramer's Charitable Trust, CNBC, Abbott Laboratories, Abbott Labs, White, Biden, AMD, Trump, Wednesday, Broadcom, VMWare, BlackRock, Costco, Coterra Energy, Coterra, DuPont, Disney, GE Healthcare, GE Aerospace, Google, Honeywell, Elliott Investment Management, Linde, Microsoft, Big Tech, Apple, Meta, Financial Times, Nvidia, Palo Alto Networks, Yum Brands, Taco Bell, Constellation Brands, Management, TJX, Marshalls, Jim Cramer's Charitable Locations: China, India, Missouri, Wells Fargo, BlackRock, Shanghai, Dover, U.S, Palo, HomeGoods

☆ Amazon debuts discount store with everything under $20 to take on Temu and Shein
▼ + stars: | 2024-11-13 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon has rolled out a new storefront featuring apparel, home goods, electronics and other items priced below $20, to fend off growing competition from discount upstarts Temu and Shein. Called "Amazon Haul," the storefront is accessible through the company's mobile app, and promises "crazy low prices" on a plethora of goods. CNBC previously reported that Amazon planned to launch its own discount webstore with goods shipped directly from China. With Amazon Haul, the company is responding to the rise of Temu, Shein and TikTok Shop, which all have ties to China, the world's second-largest economy. Amazon is able to offer low prices through its Haul storefront by importing each item directly from manufacturers in China, similar to how Temu's and Shein's business models operate.

Persons: Dharmesh Mehta, it's Organizations: Shoppers, Amazon, CNBC Locations: China, U.S

☆ Everything is under $20 at Amazon’s newest store
▼ + stars: | 2024-11-13 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Amazon is targeting retail rivals Shein, Temu and TikTok Shop with a new deeply discounted storefront that sells a wide array of products for $20 or less. Called “Amazon Haul,” the mobile-only experience debuted Wednesday in the Amazon app and has everything from fashion accessories to home goods, plus clothes and electronics. Amazon said in an announcement that a “majority” of the Haul items are under $10, with some even less than $1. However, the cheap prices come with a caveat that items can take one to two weeks to be delivered. Also, the store only accepts returns on items that are $3 or more.

Persons: Neil Saunders, ”, ” Saunders, it’s Organizations: New, New York CNN, Shein, CNN, Amazon, Consumer Product Safety Locations: New York, United States, GlobalData

☆ Kmart has all but disappeared from the US. But its Australian namesake is booming.
▼ + stars: | 2024-11-09 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

AdvertisementThe closure of a Kmart store in Bridgehampton, New York, in October marked the end of an era for the iconic chain. Now, just one Kmart store remains in the mainland US, tucked away inside an At Home store in southwest Miami. "We see this in things such as Kmart hacks," where creators showcase how they use Kmart products in novel ways to help in their everyday lives, Lloyd-Wallis said. A race to the bottomSo far, Kmart Australia has weathered the e-commerce storm, in part thanks to the geographical challenges companies like Amazon face in Australia. It seems, then, that Kmart Australia could find itself in a price race to the bottom.

Persons: —, Gary Mortimer, Mortimer, They've, Ian Bailey, it's, Bailey, we've, Anastasia Lloyd, Wallis, news.com.au, Roy Morgan, Laura Demasi, Roy Morgan's Organizations: Kmart, Service, Walmart, Target, Kmart Group, Queensland University of Technology, National Retail Federation, Kmart Australia, Getty, Retail Doctor Group, Lloyd, Amazon Australia Locations: Australia, Bridgehampton , New York, Miami, Australian, Melbourne, New Zealand, Target Australia, Canada, Singapore, Philippines, Sydney, Kmart Australia

☆ In leaked internal meeting, Amazon retail chief says sales of cheaper items are surging
▼ + stars: | 2024-11-07 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Amazon's sales of cheap items are surging, driven by faster delivery speeds, executive says. Over 50% of those everyday essentials are now delivered on the same or next day, he added. "And these are especially the low-priced everyday essentials, the things that most households purchase every week." The goal has been to not only speed up deliveries, but also make it less expensive for the company to offer faster delivery. 'Real positive'During last month's analyst call, Jassy added that the growth of cheaper items is a "real positive" because it is predicated on faster delivery speeds.

Persons: —, Doug Herrington, Herrington, Amazon's, Andy Jassy, Jassy, Brian Olsavsky, Mark Mahaney, Mahaney Organizations: Service, Business, Reuters, Amazon, HH

☆ Meta set to report Q3 earnings after the bell
▼ + stars: | 2024-10-30 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., arrives for the Meta Connect event in Menlo Park, California, US, on Wednesday, Sept. 25, 2024. Meta is slated to report third-quarter earnings on Wednesday after the close of regular trading. Meta's results come a day after digital ad companies Alphabet , Reddit and Snap all reported solid quarterly earnings. Microsoft reports after the bell on Wednesday, and the big week for tech earnings wraps up on Thursday, when Apple and Amazon report quarterly financials. If Meta hits analysts' expectations for third-quarter revenue, that would represent 18% year-over-year growth, down from 23% a year ago.

Persons: Mark Zuckerberg, LSEG, Jeff Bezos, Zuckerberg, Bernstein, Meta Organizations: Meta, Inc, Amazon, Bloomberg, Microsoft, Apple Locations: Menlo Park , California, China

☆ EBay stock sinks after company gives lackluster guidance for fourth quarter
▼ + stars: | 2024-10-30 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Shares of eBay slumped about 9% in extended trading on Wednesday after the online marketplace posted its third-quarter earnings and gave guidance for the fourth quarter that fell short of Wall Street's expectations. The guidance trailed the average analyst estimate for fourth-quarter revenue of $2.65 billion, according to StreetAccount. The company also said it expects $1.17 to $1.22 in adjusted earnings per share in the fourth quarter. The company didn't provide clarity on its forecast in the earnings release. GMV, or the dollar value of items sold on eBay's marketplace, grew 2% year over year to $18.3 billion, eBay said, which topped analysts' projected $18.1 billion, per StreetAccount estimates.

Persons: Steve Priest Organizations: eBay, LSEG, LSEG Revenue, EBay, Walmart, Big Tech Locations: China

☆ Smells Like Teen Spirit: Inside Gen Z's Luxury Perfume Obsession
▼ + stars: | 2024-10-29 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +12 min

AdvertisementBehind the booming appetite for new smells is Gen Z. AdvertisementIf there's one thing Gen Z loves, it's a name for something. Under the handle @juliaperfumery, she shares perfume reviews for her primarily Gen Z audience against the backdrop of her New York City apartment's perfume closet. "If there's one thing Gen Z loves, it's a name for something," O'Toole says. There are back-to-school scents, scents to win your ex back, scents to smell like Vanessa Paradis in Paris in the '90s — the list goes on.

Persons: Julia Dovgal, douse, mother's Chanel, Dior, Jo Malone's, Wood, Dovgal, She's, Circana, Gen Zers, Gen Xers, It's, Piper Sandler, Valentino, Jean Paul Gaultier, Maison Francis Kurkdjian's, TikTok, Phlur, —, it's, Juliette, Emelia O'Toole, There's, O'Toole, We've, Vanessa Paradis, Piper, Cathrine Jansson, Boyd, " Jansson, Gen Z, Chanel, Marilyn Monroe, Catherine Deneuve, Nicole Kidman, isn't, Gris Charnel, Jansson, Bella, Susan Wai Hnin, Zers Organizations: Saks, Perfume, Anglia Ruskin University, Urban Outfitters, rockstar Locations: Salt, Bath, New York City, TikTok, New York, Paris, London

☆ Earnings playbook: Busiest week of the season includes reports from megacaps Apple and Amazon
▼ + stars: | 2024-10-27 | by ( Fred Imbert | ) www.cnbc.com time to read: +7 min

Monday Ford Motor is set to report earnings after the bell, followed by a conference call at 5 p.m. What history shows: Bespoke Investment Group data shows Ford beats earnings expectations 68% of the time. What to watch: Meta is in a good spot heading into this week's report, according to Bernstein's Mark Shmulik. Microsoft is set to report earnings after the close, with a conference call on deck for 5:30 p.m. Amazon is set to report earnings after the market close, with a conference call at 5 p.m.

Persons: Edison Yu, Yu, BioNTech, Goldman Sachs, Toshiya Hari, Hari, LSEG, Bernstein's Mark Shmulik, Morgan Stanley's Keith Weiss, AAPL, KeyBanc, Justin Post Organizations: Apple, Ford Motor . Pharmaceutical, Pfizer, Corporate America, Monday Ford, LSEG, Ford, AMD, Cloud Service, Google, Microsoft, Windows, CNBC, Management, Amazon Web Services, Bank of America, Amazon Locations: Temu, .

☆ Micro-trends are taking over social media, and keeping up can be really expensive
▼ + stars: | 2024-10-24 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Fast-moving fashion micro-trends on social media can drive impulsive spending. A novel aesthetic or "-core" circulates on social media every few weeks, prompting consumers to buy in. 'The perfect profitability storm'Fast fashion, social media, and retailers like Shein have together created "the perfect profitability storm for the businesses and influencers using them," said Anthony Miyazaki, a marketing professor at Florida International University. Along with social media algorithms, micro-trends are being fueled by the cycle of doom spending: buying unnecessary stuff to feel better. "While it's easy to get caught up in what others are doing, it's important to remember that not everything is as it seems on social media," she said.

Persons: —, it's, Anthony Miyazaki, Miyazaki, Instagram, Tubefilter, Shein, Elysia Berman, Berman, TransUnion, Dan Pallesen, Pallesen, Bill Ryze, Ryze, Julie Guntrip, influencers, Guntrip, Baeckström Organizations: Service, King's Business School, Florida International University, Federal Reserve, Jenius Bank Locations: London

☆ Why Walmart stock keeps hitting new highs, making the Waltons richer than ever
▼ + stars: | 2024-10-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

Walmart stock has soared 58% this year to record highs, making its founding family richer than ever. Retail legend Sam Walton's three surviving children are each worth more than $100 billion. Walmart and the Waltons have benefited from a signature strategy and cost pressures on consumers. The stock surge has added more than $32 billion to the fortunes of each of founder Sam Walton's three surviving children — Jim, Rob, and Alice. But it's true the vast majority of the family fortune remains in the hands of Sam Walton's children.

Persons: Sam Walton's, —, they're, Jim, Rob, Alice, Elon Musk, David King, who've, King, Art Weinstein, Florida who's, Weinstein, Sam Walton shrewdly, . King, Jeff Bezos, Mark Zuckerberg, Sam Walton, John T, Lukas Walton, it's Organizations: Walmart, Waltons, Service, Bloomberg, Elon, Sam's, Management, Florida State University, Logistics, Procter, Nova Southeastern University, Tech, Tesla, SpaceX, Amazon Locations: Florida

☆ Bernstein naming Meta the new 'set-it-and-forget-it' stock comes down 2 things
▼ + stars: | 2024-10-24 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

In the battle of the tech giants, Wall Street firm Bernstein favors Meta Platforms over Alphabet . The analysts raised their Meta price target to $675 per share from $600 and kept their outperform buy rating on the stock. Bernstein acknowledged the valuation of Meta stock versus Alphabet "feels stretched" at the moment. Big picture Bernstein's bullish assessment of Meta's future growth prospects comes as the stock has significantly outperformed both the overall market and Alphabet. META YTD mountain Meta Platforms YTD Before Wednesday's 3% drop in an ugly market, Meta closed Tuesday just 2% off its record close of $595.94 on Oct. 4.

Persons: Bernstein, Meta, Shein, we're, Jim Cramer's, Kamala Harris, Jim, Jim Cramer Organizations: Wall, Google, Meta, Adobe, Facebook, CNBC Locations: Wednesday's, U.S

☆ UPS beats quarterly profit estimates, raises operating margin forecast
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: +2 min

(Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images)United Parcel Service surpassed Wall Street estimates for quarterly profit and raised its full-year adjusted operating margin forecast on Thursday after it hived off its volatile truckload brokerage business, Coyote Logistics. The company had slashed its full-year adjusted operating margin target to 9.4% in July, despite an uptick in U.S. volumes because of the shift. It now expects a full-year operating margin of 9.6%. UPS saw a 6.5% growth in average daily volumes in its domestic segment in the third quarter. Its adjusted operating margin of 8.9% was above last year's 7.7%, on cost cuts.

Persons: Lindsey Nicholson Organizations: UPS, Getty Images, United Parcel Service, Wall, Coyote Logistics, U.S . Postal Service, Consolidated, United States Postal Service, FedEx Locations: Queens , New York, U.S, China

☆ ‘Unsafe’ toys being sold in Europe by Amazon, Temu and other online marketplaces
▼ + stars: | 2024-10-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

Lonodn CNN —Some toymakers are “flooding” Europe with dangerous toys via online marketplaces, including magnets capable of puncturing a child’s intestines if swallowed and products containing toxic chemicals, according to an industry body. An Amazon spokesperson said the company has “proactive measures in place to prevent unsafe or non-compliant products from being listed” on its site. The EU has the “strictest toy safety regime in the world” but toymakers from outside the bloc are exempt from EU rules when selling their products via online marketplaces, TIE said. In the United States, too, regulators are concerned about the safety of goods sold online. In September, two officials from the Consumer Products Safety Commission called for an investigation into Shein and Temu over the potential sale of “deadly baby and toddler products.”

Persons: Catherine Van Reeth, ”, Shein Organizations: CNN, Toy Industries of, European Union, EU, Amazon, Consumer Products Safety Locations: Europe, Toy Industries of Europe, United Kingdom, United States, Shein

The vast majority of analysts surveyed by FactSet hold a strong buy or buy rating on the stock. Despite its recent slowdown, analysts surveyed by FactSet have a consensus buy rating on the dominant e-commerce platform. Bullish voices on the stock include Goldman Sachs analyst Eric Sheridan, who recently reiterated a buy rating and $230 price target. JPMorgan's Anmuth is similarly positive on Amazon ahead of earnings, rating the stock overweight and saying it remains the favorite in the bank's firm's internet sector coverage. The consensus FactSet rating on Meta is buy, with an average price target of $604, suggesting just 2.3% potential upside.

Persons: Roundhill, —, selloff, Goldman Sachs, Kash Rangan, Nvidia's Blackwell, Brad Zelnick, Amit Daryanani, Daryanani, Apple's wearables, qtr, Tim Cook's, you'd, Morgan Stanley, Jensen, Blackwell, Biden, Tesla, enthusiam, Elon, Wells, Colin Langan, Department's, Doug Anmuth, Bank of America's Justin Post, Eric Sheridan, Sheridan, Goldman, Anmuth, Baird, Roth MKM, JPMorgan's Anmuth, Goldman's Sheridan, Meta's, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, CNBC, Windows, Investment, Deutsche Bank, Justice Department, Blackwell, Bloomberg, Ford, General Motors, EV, Google, FactSet, Bank of America's, ISI, Walmart, Costco, eBay, Meta, Ray, Labs, Facebook, Temu, Goldman Locations: China, FactSet, ., Downside, U.S, Wells Fargo, American, Meta's Asia, Pacific

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