Evercore ISI Comments on Amazon.com (AMZN) Prime Day: 'Intrinsically Impressive 25% Unit Growth'

Amazon (AMZN) New Top Pick at New Street

Amazon (NASDAQ: AMZN) New Top Pick at New Street

Citi incrementally positive on Amazon (AMZN) e-commerce business after record Prime Day

Citi analyst Ronald Josey told investors in a note Friday that the firm is incrementally positive on Amazon's (NASDAQ: AMZN) e-commerce business after what they believe are "relatively positive results" from Amazon's annual Prime Day event held from July 11 to 12.

Amazon said on Thursday that this year's Prime Day event was bigger than ever, with Prime members purchasing more than 375 million items.
It was the "single largest sales day in company history,"... More

S&P 500 climbs as Alphabet leads rally in tech

Investing.com -- The S&P 500 extended its rally Thursday, underpinned by better-than-expected quarterly earnings and a Google-led surge in tech after the search-engine giant launched its Chat-GPT rival, Baird, in Europe and Brazil.

The S&P 500 rose 0.8%, the Dow Jones Industrial Average rose 0.15%, or 49 points, and the Nasdaq was up 1.4%.

PepsiCo Inc (NASDAQ: PEP) reported better-than-expected second-quarter results and lifted its full outlook as price hikes helped offset higher input costs. Its shares rose more than 2%.

Delta... More

Amazon (AMZN) Says First Day of Prime Day was the Single Largest Sales Day Ever

NASDAQ: AMZNToday, Amazon announced the first day of Prime Day, July 11, was the single largest sales day in company history. Over the course of the two-day shopping event, Prime members purchased more than 375 million items worldwide and saved more than $2.5 billion on millions of deals across the Amazon store, helping make it the biggest Prime Day event ever.

The first day of Prime Day was the largest sales day in Amazons history, and Prime members saved more this year than any other Prime Day event, said Doug Herrington, CEO of Amazon Stores. Prime is an incredible value,... More

TD Cowen sees Amazon (AMZN) topping FQ2 earnings expectations

TD Cowen analyst John Blackledge expects Amazon (NASDAQ: AMZN) to beat analyst expectations for the second quarter. The analyst projects Amazons Q2 revenue at $132.8 billion, signaling an upside of 1.1% relative to consensus ($131.4B).

Accelerating e-commerce revenue and ad revenue growth should fuel Amazons... More

TD Cowen Sees Q2 'Beat' for Amazon.com (AMZN)

TD Cowen analyst John Blackledge reiterated an Outperform rating and $150.00 price target on Amazon.com (NASDAQ: AMZN) into Q2 results, where they expect a bet on revenue and operating income.

The analyst commented, "We expect 2Q23 revenue of $132.8BN, +9.6% y/y and 1.1% above... More

Amazon (AMZN) Prime Day 'created a spark' of retail spending - Telsey Advisory Group

The price target for Amazon (NASDAQ: AMZN) was raised to $145 from $125 at Telsey Advisory Group on Wednesday, with analyst Joseph Feldman reiterating an Outperform rating on the stock.

The analyst said he believes Amazon's Prime Day, which we are currently in... More

Nvidia, Microsoft, Netflix and Domino's rise premarket; Illumina falls

Investing.com -- U.S. futures traded lower, with investors cautious ahead of the release of Federal Reserve meeting minutes from the June policy gathering.

Here are some of the biggest premarket U.S. stock movers today:

Nvidia (NASDAQ: NVDA)... More

Microsoft (MSFT) and Amazon (AMZN) remain big winners in CIO spending intentions - Bernstein's Sacconaghi

Bernstein analyst Toni Sacconaghi on the results of CIO survey: "(1) IT spending expectations for 2023 have softened but remain positive. We forecast that global IT spending will grow 3% in 2023, down from our estimate of 6% for 2022. (2) AI/LLM efforts are nascent, with most CIOs stating that they were exploring potential applications... More

Amazon.com (AMZN) PT Raised to $145 at Telsey on Prime Day 2023

Telsey analyst Joseph Feldman raised the price target on Amazon.com (NASDAQ: AMZN) to $145.00 (from $125.00) while maintaining an Outperform rating.

"In the midst of a slower consumer spending environment, we believe Amazon's Prime Day 2023 created a spark of spending across retail. The company seems to have successfully leveraged its relationship with brandswhich haveseen softer trends due... More

Amazon (AMZN) option implied volatility flat

Amazon (NASDAQ: AMZN) 30-day option implied volatility is at 40; compared to its 52-week range of 26 to 61.

Amazon touts its low-cost cloud computing in generative AI race

By Jeffrey Dastin

AUSTIN (Reuters) - A key way that Amazon's cloud division aims to set itself apart from rivals perceived to have a leg up on artificial intelligence is by competing on price, an executive said on Tuesday.

The AI models behind a viral chatbot like ChatGPT require immense computing power to train and operate, the kinds of costs Amazon Web Services (AWS) is good at lowering, said Dilip Kumar, vice president overseeing its applications group.

A potential boost is that the company, like... More

Stock market today: Dow adds more than 300 points ahead of inflation report

Investing.com -- Stocks closed higher on Tuesday led by a jump in energy and big tech as investors awaited a duo of inflation reports later this week.

At 16:01 ET (20:01 GMT), the Dow Jones Industrial Average was up 317 points or 0.9%, while the S&P 500 was up 0.7% and the Nasdaq was up 0.6%.

Energy climbs as oil prices ride improved demand outlook higher

There are growing expectations that the oil market could tighten in the second half of the year, underpinned by signs of falling crude production and recent pledges from Saudi Arabia to... More

S&P 500 climbs as energy, industrials flex muscles; Inflation data eyed

Investing.com -- The S&P 500 climbed higher Tuesday, led by a jump in energy and big tech as investors awaited a duo of inflation reports later this week.

The S&P 500 rose 0.2%, the Dow Jones Industrial Average rose 0.6%, or 212 points, and the Nasdaq was up 0.1%.

Energy stocks rose more than 1% to lead the broader market outlook on growing expectations that the oil market could tighten in the second half of the year, underpinned by signs of falling crude production and recent... More

Amazon workers sue NYC union to force leadership vote

By Daniel Wiessner

(Reuters) -Dozens of Amazon.com Inc warehouse workers in New York City have sued their union, the first in the company's history, alleging that top union officials are refusing to hold democratic elections to fill leadership posts.

The lawsuit filed in Brooklyn federal court on Monday represents an escalation of internal disputes within the Amazon Labor Union (ALU) formed last year after it won an election at the Staten Island warehouse but lost two others in New York.

The union's April 2022 victory at the warehouse, known as JFK8, was a... More

U.S. stocks are rising as investors await inflation report

Investing.com -- U.S. stocks are rising in early trading as investors anticipate the release of Junes consumer price index on Wednesday.

At 9:32 ET, the Dow Jones Industrial Average was up 168 points or 0.5%, while the S&P 500 was up 0.2% and the NASDAQ Composite was up 0.1%.

Investors are hoping that a cooling off of inflation could... More

This internet stock is a new Top Pick at Evercore ISI with upside potential of 75%

Evercore ISI analyst Mark Mahaney reflected on the Internet sector with a positive view ahead of the Q2 earnings season. The analyst is tactically constructive on the large caps despite the brokers coverage of 19 stocks being up 44% year-to-date.

Given the rally in the Net stocks, were tempted to downgrade our investment opinion. But we wont for two reasons Multiples are still depressed i.e. below average and Fundamentals are still soft i.e. revenue growth rates are weak, the analyst wrote in a... More

Nasdaq 100 rebalance will benefit these 7 stocks - Wells Fargo

Wells Fargo analyst Christopher Harvey reflected on the upcoming Nasdaq 100 (NDX) Special Rebalance that is taking place on Friday, July 21.

A Special Rebalance is usually conducted to address overconcentration in the index by redistributing the weights. This particular move is focused on reducing concentration risk and reducing the dominance of the Big Seven, namely Microsoft (NASDAQ:... More

Amazon, WD-40, JPMorgan and Zillow rise premarket

Investing.com -- U.S. futures edged higher Tuesday, continuing the positive start to the week with investors awaiting more comments from Fed officials as week as key inflation data.

Here are some of the biggest premarket U.S. stock movers today:

Amazon... More

Amazon (AMZN) 'risk/reward still favorable on the print,' added to Wells Fargo Signature Picks

Amazon (NASDAQ: AMZN) was added to Wells Fargo's Signature Picks list in a note Tuesday, with analyst Ken Gawrelski reiterating an Overweight rating and $159 price target on the stock.

In its second-quarter preview note of the tech giant, Wells Fargo said that Amazon... More

Dow futures edge higher; Bullard the latest Fed official to speak

Investing.com -- U.S. stock futures edged higher Tuesday, continuing the positive start to the week, as investors await comments from St. Louis Fed President James Bullard ahead of key inflation data.

By 06:50 ET (10:50 GMT), the Dow futures contract was up 10 points, or 0.1%, S&P 500 futures traded 5 points, or 0.1% higher, and Nasdaq 100 futures climbed 23 points, or 0.2%.

The three benchmark indices closed higher Monday, snapping a three-day decline, after a series of comments from Federal Reserve policymakers sparked hopes that the U.S. central bank's campaign of interest rate hikes... More

Amazon makes first Big Tech challenge to EU online content rules

By Foo Yun Chee

BRUSSELS (Reuters) - Amazon is challenging its inclusion in a group of companies subject to tough European Union online content rules, in a move that may prompt other tech giants to follow suit.

The challenge at the Luxembourg-based General Court, Europe's second highest, is the first by a Big Tech company and came two weeks after German online retailer Zalando sued the European Commission over the same issue.

Under the Digital... More

Nasdaq-100 Special Rebalance as the Pendulum Has Swung Too Far - Wells Fargo

Wells Fargo analyst Christopher Harvey on the announced Nasdaq-100 special rebalancing: "The upcoming NDX rebalance is reducing concentration risk but creating uber-cap selling pressure. With uber-caps overbought, near-term liquidity demands will likely weigh on the group. In 2011, down-sized names lagged by 2-3% between announcement and event. Our Index Strategists estimate... More

Amazon (AMZN) added to Wells Fargo's Signature Picks list

Amazon (NASDAQ: AMZN) is a new constituent of Wells Fargo's Signature Picks list.

"AWS expects rising into 2Q EPS; buy-side rev now in line w/ Street +10% y/y. Expect 3Q high-end OI guide of $6.0B vs. Street $5.5B & upward estimate revision cycle from... More