- Barrons.com•2 hours ago
Shares of Amazon.com (AMZN) are higher by $15.08, or 2%, at $814.24, after The Wall Street Journal’s Greg Bensinger and Laura Stevens this afternoon reported that the company is "is laying the groundwork for its own shipping business in a brazen challenge to America’s freight titans,” referring to Fedex (FDX) and United Parcel Service (UPS). The authors cite conversations “with nearly two-dozen former managers” at Amazon, who indicate the company’s goal is not merely to assure itself extra capacity for peak times, but to create a “massive delivery network” referred to internally as “consume the city." Although an Amazon statement is included praising the importance of Fedex and UPS to Amazon, the authors write that, Inside the company, executives describe, in the words of one senior official, how Amazon “is building a full-service logistics and transportation network effectively from the ground up.” The article also cites skeptical comments, including Fedex CFO Alan Graf noting the “daunting” expense of building out Fedex’s global facilities network.
- The Wall Street Journal•3 hours ago
To constrain rising shipping costs, the online giant Amazon.com is building its own delivery operation, showing the extent of its ambition and also setting up a clash with the company’s shipping partners....
United Parcel Service, Inc. (UPS)
NYSE - NYSE Real Time Price. Currency in USD
|Bid||109.71 x 300|
|Ask||110.30 x 300|
|Day's Range||108.50 - 110.23|
|52wk Range||87.30 - 111.83|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||19.78|
|Avg Vol (3m)||2,336,507|
|Dividend & Yield||3.12 (2.86%)|