Stock market today: Dow ends higher on healthcare climb, but tech wreck persists
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- Wall Street ends up on Iran war peace deal hopes, SpaceX's historic debut
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- 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
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- Oppenheimer Starts SpaceX (SPCX) at Outperform, PT $190, 'space infrastructure appears structurally advantaged'
- Pentagon reportedly locked down, hazmat teams responding
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Oppenheimer says 'layoffs are necessary' as they cut estimates at Amazon (AMZN)
April 6, 2023 8:20 AM EDTOppenheimer reiterated an Outperform rating on Amazon.com Inc. (NASDAQ: AMZN) but reduced their price target on the stock to $125.00 (From $135.00) after conducting a deep dive into the companys expenses. Following the investigation, analyst Jason Helfstein believes that the online retailer more layoffs are necessary for eCommerce to become meaningfully profitable.
Helfstein wrote in a note, We believe AMZN's 25% underperformance vs. Nasdaq LTM is... More
