Amazon (AMZN) reaches 10,000 Rivian (RIVN) electric delivery vans in U.S.

Chinas CATL reports severe drop in profit growth as EV demand weakens

October 19, 2023 10:12 AM EDT

China's CATL, the leading global battery manufacturer for electric vehicles (EV), announced on Thursday that its third-quarter profits had grown by 10.7%, representing the companys slowest quarter since the beginning of last year. Management attributes the slowdown to a combination of reduced demand and intensified competition.

This growth figure stands in stark contrast to the 63.2% profit increase in the previous quarter and the substantial 188.4% surge experienced in the third quarter of 2022.

Recent data revealed that CATL witnessed a decline... More

Tesla (TSLA) follows GM and Ford (F), slows EV ramp as demand drops

October 19, 2023 9:21 AM EDT

Tesla (NASDAQ: TSLA), on Wednesday, echoed the cautious approach of General Motors (NYSE: GM) and Ford (NYSE: F) towards expanding electric vehicle (EV) production capacity. The company cited economic uncertainties and emphasized concerns about a possible decline in demand.

Tesla CEO, Elon Musk voiced his apprehension about the... More

Amazon (AMZN) launches pharmacy drone deliveries

October 18, 2023 10:47 AM EDT

Amazon (NASDAQ: AMZN) revealed Wednesday that its customers in College Station, Texas, can now receive medications delivered via drones.

The tech powerhouse, which has been pushing into the healthcare industry, said Amazon Pharmacy customers in the area can get their medications delivered in 60 minutes or... More

IBM (IBM) Expands Relationship with AWS (AMZN) to Bring Generative AI Solutions and Dedicated Expertise to Clients

October 18, 2023 8:01 AM EDT

IBM (NYSE: IBM) today announced an expansion of its relationship with Amazon Web Services (AWS) to help more mutual clients operationalize and derive value from generative artificial intelligence (AI). As part of this, IBM Consulting aims to deepen and expand its generative AI expertise on AWS by training 10,000 consultants by the end of 2024; the two organizations also plan to... More

Amazon (AMZN) seeks to overhaul fulfillment with AI and robotics capabilities

October 18, 2023 7:09 AM EDT

Amazon (NASDAQ: AMZN) is set to introduce "an array of new artificial intelligence and robotics capabilities into its warehouse operations," according to an early Wednesday report by the Wall Street Journal.

In a move that aims to "reduce delivery times and help identify inventory... More

Amazon to Use New AI Systems at Fulfillment Facilities That Will Work Alongside Employees - WSJ

October 18, 2023 6:09 AM EDT

(Updated - October 18, 2023 6:10 AM EDT)

Amazon to Use New AI Systems at Fulfillment Facilities That Will Work Alongside Employees - WSJ

Amazon introducing warehouse overhaul with robotics to speed deliveries.... More

Amazon Executive Says Company Now Has 10,000 Rivian Vans in Delivery Fleet

October 17, 2023 7:53 PM EDT

(Updated - October 17, 2023 8:04 PM EDT)

Amazon Executive Says Company Now Has 10,000 Rivian Vans in Delivery Fleet - Company event in Seattle on Tuesday afternoon

Amazon, which co-owns Rivian says it now has 10,000 of its delivery vehicles, nearly doubling the fleet from July of this year.Additionally,... More

Microsoft (MSFT) said to sign Amazon as customer of cloud tools - report

October 17, 2023 5:03 PM EDT

Microsoft (NASDAQ: MSFT) is expected to bring on Amazon (NASDAQ: AMZN) as a customer for its 365 cloud productivity tools, Insider reported.

The deal is said to be worth over $1 billion.

... More

Microsoft in talks to sign on Amazon as customer in $1 billion cloud tools deal - Insider

October 17, 2023 4:47 PM EDT

(Reuters) -Microsoft is preparing to bring Amazon.com as a customer for its 365 cloud productivity tools in a deal worth over $1 billion, news site Insider reported on Tuesday, citing an internal document and a person familiar with the matter.

The e-commerce giant has committed the amount for over... More

2 e-commerce stocks to own - Stifel

October 17, 2023 10:14 AM EDT

In a note covering the e-commerce sector this week, Stifel analysts revealed two stocks they see as a buy.

Analyst Mark Kelley revealed that the firm prefers exposure to businesses in the sector that are the most scaled platforms with tangential business opportunities both today and over the long term and have marketplaces with the least exposure to consumer discretionary.

In addition, they also look favorably on businesses where the current trends are outpacing peers and where... More

Amazon.com (AMZN) PT Lowered to $178 at UBS

October 17, 2023 9:30 AM EDT

UBS analyst Lloyd Walmsley lowered the price target on Amazon.com (NASDAQ: AMZN) to $178.00 (from $180.00) while maintaining a Buy rating.... More

Amazon.com (AMZN) PT Lowered to $174 at Truist Securities

October 17, 2023 7:18 AM EDT

Truist Securities analyst Youssef Squali lowered the price target on Amazon.com (NASDAQ: AMZN) to $174.00 (from $176.00) while maintaining a Buy rating.... More

Stifel Starts Amazon.com (AMZN) at Buy

October 16, 2023 4:07 PM EDT

(Updated - October 16, 2023 4:14 PM EDT)

Stifel analyst Mark Kelly initiates coverage on Amazon.com (NASDAQ: AMZN) with a Buy rating and a price target of $173.00.

The analyst comments "Initiating coverage with a Buy rating and $173 target price. No other e-commerce platform comes close to matching the scale that Amazon has... More