Amazon (AMZN) Announces Long-Term Strategic Agreement with HSBC Holdings (HSBC) for Digital Transformation via AWS Cloud

Virus worries and FOMO drive options bets on surging tech giants

July 14, 2020 3:17 PM EDT

By April Joyner

NEW YORK (Reuters) - Options investors are ramping up bets on some of this year's biggest winners, including Amazon.com Inc (NASDAQ: AMZN), Netflix Inc (NASDAQ: NFLX) and Tesla Inc (NASDAQ: TSLA), even as they turn cautious on the wider market amid a resurgent U.S. coronavirus outbreak.

Investors are betting that tech-related stocks will remain comparatively resilient to the coronavirus-fueled economic disruptions that have battered sectors such as retail and travel, despite growing concerns about stretched valuations following steep... More

Amazon (AMZN) Plunges 4%

July 14, 2020 9:53 AM EDT

Amazon (NASDAQ: AMZN) Plunges 4%

... More

Amazon tests primary healthcare program for employees

July 14, 2020 9:17 AM EDT

(Reuters) - Amazon.com Inc (NASDAQ: AMZN) said on Tuesday it launched a pilot healthcare program for its employees and their families to provide primary services such as vaccination and physical therapy.

The move comes at a time when the world's largest... More

China says U.S. warnings over Xinjiang hurt global supply chain

July 14, 2020 8:51 AM EDT

BEIJING (Reuters) - China's commerce ministry said on Tuesday that the United States' "warning" to U.S. companies working in the western Xinjiang region had destabilised the global supply chain.

The U.S. State Department told top American companies including Walmart Inc (NYSE:... More

15 U.S. states to jointly work to advance electric heavy-duty trucks

July 14, 2020 8:10 AM EDT

By David Shepardson

WASHINGTON (Reuters) - A group of 15 U.S. states and the District of Columbia on Tuesday unveiled a joint memorandum of understanding aimed at boosting the market for electric medium- and heavy-duty vehicles and phasing out diesel-powered trucks by 2050.

The announcement comes weeks after the California Air Resources Board approved a groundbreaking policy to require manufacturers to sell a rising number of zero-emission vehicles, starting in 2024 and to electrify nearly all larger trucks by 2045.

The 14... More

Bill Gross predicts value outperforms growth, based on rates correlation

July 14, 2020 8:07 AM EDT

By Kate Duguid

NEW YORK (Reuters) - Billionaire investor Bill Gross is predicting that value stocks like IBM (NYSE: IBM) and Altria Group (NYSE: MO) are likely to fare better than growth stocks like Apple (NASDAQ: AAPL) or Amazon.com (NASDAQ: AMZN) in the near term, due to a correlation with real interest rates.

U.S. real... More

India's Flipkart to raise $1.2 billion in Walmart-led funding

July 14, 2020 7:41 AM EDT

By Sachin Ravikumar

BENGALURU (Reuters) - Flipkart will raise $1.2 billion in funding led by majority owner Walmart Inc (NYSE: WMT), the Indian e-commerce firm said on Tuesday, as it looks to compete better with Amazon.com Inc (NASDAQ: AMZN) in a coronavirus-hit market.

The investment, also funded by other existing shareholders, values Flipkart at $24.9 billion, and comes two years after U.S. retail giant Walmart paid $16 billion for... More

Comcast bets on ads with launch of Peacock streaming service

July 14, 2020 6:34 AM EDT

By Helen Coster

(Reuters) - Comcast-owned NBCUniversal will enter a crowded streaming market on Wednesday when it launches its Peacock streaming service nationally, offering 20,000 hours of content, including NBC shows such as "30 Rock," "Cheers" and "Saturday Night Live."

The service, which became available to some Comcast Corp (NASDAQ: CMCSA) subscribers in April, is the media giant's effort to offset declines in Comcast's cable TV business - while finding a new way to monetize NBC and Universal... More

Free pizza and a 75-foot statue of Musk: the battle for the next Tesla plant

July 13, 2020 4:34 PM EDT

By Tina Bellon and Andrea Shalal

(Reuters) - Tulsa, Oklahoma, is an oil-industry town with a 75-foot (23 m) statue called "The Golden Driller."

Austin, Texas, is a progressive city in a conservative state with a thriving software industry and a "Keep Austin Weird" counterculture image.

These two very different towns have one thing in common: They are both on the short list to land a $1.1 billion vehicle assembly plant for Tesla Inc (NASDAQ: TSLA) - and up to 20,000 new jobs.

With a decision expected within a few weeks, the... More

Brazil central bank must adapt regulation to big tech companies, director says

July 13, 2020 3:41 PM EDT

SAO PAULO (Reuters) - Brazil's banking regulation must adapt to big technology companies to ensure competition in the financial arena, central bank director Joao Manoel Pinho de Mello said on Monday in a webcast with newspaper Valor Economico.

In June, the central bank issued a rule saying it could... More

Amazon (AMZN) Falls to Low, Down 3.4%

July 13, 2020 3:34 PM EDT

Amazon (NASDAQ: AMZN) Falls to Low, Down 3.4%

... More

Amazon.com (AMZN) PT Raised to $3,430 at Barclays

July 13, 2020 7:57 AM EDT

Barclays raised its price target on Amazon.com (NASDAQ: AMZN) to $3,430.00 (from $2,500.00) while maintaining a Overweight rating.... More

Amazon.com (AMZN) PT Raised to 'Street High' $3,700 at Cowen; Sees Q2 Beat

July 13, 2020 7:08 AM EDT

Cowen analyst John Blackledge raised the price target on Amazon.com (NASDAQ: AMZN) to a 'Street High' $3,700.00 (from $2,750.00) while maintaining a Outperform rating.

The analyst commented, "We expect strong 2Q20 results with Rev. & Op. Inc. above high end of guide range. Key rev drivers... More

S&P 500 and Nasdaq end lower after sharp drop in tech titans

July 13, 2020 6:59 AM EDT

By Noel Randewich

(Reuters) - The S&P 500 and Nasdaq ended lower on Monday, pulled down by Amazon, Microsoft and other recent big-name leaders of Wall Street's recent rally.

The S&P 500 dipped after briefly touching its highest level since Feb. 25. The index has rebounded over 40% since mid-March, even as COVID-19 infections rose rapidly in Arizona, California and Texas and about 35 other states.

Stocks that outperformed in recent months, including Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT), Nvidia (NASDAQ: NVDA) and Facebook... More