U.S. Markets open in 26 mins

Amazon partners with Best Buy on smart TVs, a "win-win"

Joseph Pisani, AP Retail Writer

NEW YORK (AP) -- Amazon has cut a deal to sell voice-controlled TVs at Best Buy, the latest attempt by the online retailer to get its burgeoning suite of tech products out where people can see and touch them.

Best Buy already sells the Amazon Kindle and other gadgets, but the deal announced Wednesday makes the electronics retailer the only place where you can walk in and buy a TV powered by Amazon's Fire TV software. Investors seemed to like the partnership: Best Buy's stock rose 4 percent Wednesday.

Amazon has begun to make its physical presence known, buying the Whole Foods grocery chain last year and opening more than a dozen bookstores.

In addition to its own stores (an Amazon Go cashier-less convince store opened its doors earlier this year), Amazon is creating partnerships with traditional retailers in a sector that is threatened by its dominance.

Kohl's carved out space for Amazon shops in some of its department stores and Sears sells Kenmore appliances on Amazon.com.

As is almost always the case when Amazon moves, its potential to disrupt ripples across markets.

Shares of Roku Inc., a pioneer in streaming devices and smart TVs, plunged 9 percent Wednesday.

Best Buy will begin selling 11 models of the Fire TV in the U.S. this summer, and later this year in Canada. The new TVs are made by Toshiba and Best Buy Co.'s own brand, Insignia. The companies did not say how much they would cost.

The TVs come with a remote that has Amazon's Alexa voice-assistant built in, so you can press a button and say out loud the movies you want to watch, or what channel you want to switch to. The TVs can be paired with Amazon's smart speakers, meaning you wouldn't need to pick up a remote at all.

Charlie O'Shea, a retail analyst at Moody's, said the "win-win" deal will boost traffic at Best Buy and it gives Amazon another brick-and-mortar space to show off its products.

___

Associated Press Writer Michelle Chapman in Newark also contributed to this story.

  • Sears bankruptcy could make these 5 big companies multi-million-dollar losers
    Finance
    Yahoo Finance

    Sears bankruptcy could make these 5 big companies multi-million-dollar losers

    Signs advertising store closing sales are seen on the doors of a Sears in New Hyde Park, New York, U.S., October 10, 2018. REUTERS/Shannon Stapleton Being an unsecured creditor of Sears (SHLD) right now is not a good place to be. The 125-year old former

  • 2 Pharmaceutical Stocks to Buy With Dividends of 3% or Better
    Business
    Motley Fool

    2 Pharmaceutical Stocks to Buy With Dividends of 3% or Better

    During a tough week for the overall market, pharmaceutical stocks across the board fell a few notches despite a lack of significant news for the industry itself. Over the past five years, Pfizer has been able to raise its dividend 42% despite declining sales for aging blockbusters that lost patent protection and a sterile injectibles business that suffered major product shortages after it was acquired. Now that the worst is over, a strong product lineup and bulging pipeline could allow America's largest pharmaceutical company to direct a ton of cash toward its shareholders.

  • Business
    Reuters

    Bank of America profit beats on lower costs, loan growth

    (Adds details on cost cuts, loan growth; updates shares) Oct 15 (Reuters) - Bank of America Corp reported a better-than-expected rise in quarterly profit on Monday as the second-largest U.S. lender benefited from cost cuts, while higher

  • Ford Escape sales are down — here’s how it compares with other small SUVs
    Business
    American City Business Journals

    Ford Escape sales are down — here’s how it compares with other small SUVs

    Sales of the Ford Escape aren't what they used to be. The Escape, made at the Louisville Assembly Plant, saw sales decline by 20 percent in September 2018, compared with the same month last year. Ford and its Lincoln Motor Co. subsidiary have been successful in increasing sales of larger SUVs, such as the Navigator and Expedition this year.

  • This Is the Average American's Salary. How Does Yours Compare?
    Business
    Motley Fool

    This Is the Average American's Salary. How Does Yours Compare?

    In an age of oversharing, many of us are remarkably tight-lipped when it comes to talking salary. But in reality, knowing where you stand can help you determine whether you're in a good place or whether you should be taking steps to boost your earnings

  • Is This High-Flying Marijuana Stock the Next Tilray?
    Business
    Motley Fool

    Is This High-Flying Marijuana Stock the Next Tilray?

    Since then, Tilray's share price has skyrocketed to well over six times its opening-day level. At one point, Tilray was up a whopping 856% -- in just two months of trading. Now there's another marijuana stock that is beginning to turn heads.

  • Jack Bogle's Stock and Bond Market Return Expectations
    Business
    Morningstar

    Jack Bogle's Stock and Bond Market Return Expectations

    The Vanguard founder says low dividend yields, modest earnings growth potential, and still-low rates mean returns are set to be lower.

  • This $372 Million Windfall for Aurora Cannabis Could Be Just the Beginning
    Business
    Motley Fool

    This $372 Million Windfall for Aurora Cannabis Could Be Just the Beginning

    Investors have never been more excited about the prospects for marijuana stocks, and many of the best-known first movers in the industry call Canada their home. Aurora Cannabis (NASDAQOTH: ACBFF) (TSX: ACB) is one of the major companies in the cannabis industry looking to cash in on the impending legalization of recreational marijuana in Canada, and it's put together an impressive set of resources designed to let it take maximum advantage of growing consumer interest in cannabis products. Like most up-and-coming companies, Aurora Cannabis isn't consistently profitable, and the marijuana producer is spending freely to ramp up its production capabilities to stay ahead of competitors.

  • What Investors Should Know about AT&T’s Growth Prospects
    Business
    Market Realist

    What Investors Should Know about AT&T’s Growth Prospects

    What Investors Should Know about AT&T’s Growth Prospects AT&T’s earnings in Q3 2018 AT&T (T), the second-largest wireless service provider in the United States, is looking to showcase its strength as it nears its third-quarter earnings release. The company

  • Finance
    Fox Business

    How much Uber, Lyft drivers really make

    With the rise of the gig economy, many people are turning to ridesharing platforms such as Uber and Lyft to find work. Despite the differences in the platforms, average nationwide earnings for both Uber and Lyft are comparable. A 2015 study by SherpaShare found that an average driver’s gross earnings per trip in New York City was $29.34 for UberX and $28.82 for Lyft, compared with only $11.53 for UberX and $11.36 for Lyft in Los Angeles.

  • Kinder Morgan’s Third-Quarter Results Uplift Its Stock
    Business
    Market Realist

    Kinder Morgan’s Third-Quarter Results Uplift Its Stock

    Kinder Morgan’s Third-Quarter Earnings Are Expected to Rise (Continued from Prior Part) Kinder Morgan has fallen YTD  Kinder Morgan (KMI) stock has fallen ~4% YTD (year-to-date). Kinder Morgan has been trading mainly sideways for about three months.

  • Guess Who's Profiting From GE's Troubles?
    Business
    Motley Fool

    Guess Who's Profiting From GE's Troubles?

    One person's challenge is another's opportunity, and there are very few CEOs as bold and decisive in taking advantage of a chance to enhance value for shareholders as Emerson Electric's (NYSE: EMR) David Farr. Although the terms of Emerson's deal to buy General Electric's (NYSE: GE) Intelligent Platforms business weren't disclosed, it's likely that GE's desire to sell assets in order to raise cash means Farr's company wouldn't have overpaid to acquire a strategically important business. While the very-highly-regarded former Danaher CEO Larry Culp is now charged with turning around GE's fortunes, the executive with best recent experience in turning around a major industrial company is actually Emerson's David Farr.

  • Why I’m Not Worried About Being Behind on Retirement Savings
    News
    GoBankingRates

    Why I’m Not Worried About Being Behind on Retirement Savings

    This is why I find it funny that we spend most of our lives “retirement planning” or planning for our deaths. Don’t get me wrong, I’m not shouting in the face of retirement planning or being prepared. Although I’ve gotten my life back on track since then, I’m still not worried about being behind on retirement savings, the magical “$1 million saved” for retirement number or all the “what ifs.” Why?

  • Bodies of South Korean Climbers and Nepalese Guides Have Been Retrieved After a Deadly Mountain Storm
    World
    Meredith Videos

    Bodies of South Korean Climbers and Nepalese Guides Have Been Retrieved After a Deadly Mountain Storm

    Rescuers on Sunday retrieved the bodies of five South Korean climbers and their four Nepalese guides who died in a storm that destroyed their base camp on Gurja Himal mountain.

  • Saudis reject threats as stocks plunge after Trump comments
    Business
    Associated Press

    Saudis reject threats as stocks plunge after Trump comments

    Saudi Arabia on Sunday threatened to retaliate for any sanctions imposed against it after President Donald Trump said the oil-rich kingdom deserves "severe punishment" if it is responsible for the disappearance and suspected murder of Washington Post contributor Jamal Khashoggi. The warning from the world's top oil exporter came after a turbulent day on the Saudi stock exchange, which plunged as much as 7 percent at one point. American lawmakers threatened tough punitive action against the Saudis, and Germany, France and Britain jointly called for a "credible investigation" into Khashoggi's disappearance.

  • Sears' Bankruptcy: How It Got Here -- And What Happens Next
    Business
    Motley Fool

    Sears' Bankruptcy: How It Got Here -- And What Happens Next

    It was a long time coming for Sears Holdings Corp. (NASDAQ: SHLD). The venerable American retailer, founded back in 1893, filed for Chapter 11 bankruptcy early Monday. The move would allow Sears to restructure in hopes of reemerging from bankruptcy with part of the business still standing.

  • New Strong Sell Stocks for October 15th
    Business
    Zacks

    New Strong Sell Stocks for October 15th

    Here are 5 stocks added to the Zacks Rank #5 (Strong Sell) List today:EXFO Inc EXFO is a developer of smarter network test, monitoring and analytics solutions for communications service providers and network equipment manufacturers. The Zacks Consensus

  • It’s Official -- These 5 Social Security Changes Are Coming for 2019
    Business
    Motley Fool

    It’s Official -- These 5 Social Security Changes Are Coming for 2019

    For workers, Social Security's maximum taxable earnings are increasing, and more income will be required to earn a Social Security "credit." Beneficiaries who claimed Social Security early and still work will be happy to learn they'll be able to earn more without a benefit reduction in 2019, and for high earners, the maximum possible Social Security benefit is also on the rise. With all of that in mind, here are the recently released details of these five 2019 Social Security changes. As I mentioned, Social Security beneficiaries are getting a 2.8% COLA starting with their January 2019 benefit payment.

  • If You're Retired, Consider Buying These 3 Stocks
    Business
    Motley Fool

    If You're Retired, Consider Buying These 3 Stocks

    Magellan Midstream Partners, L.P. (NYSE: MMP), PPL Corporation (NYSE: PPL), and ExxonMobil Corporation (NYSE: XOM) are all high yielding dividend payers with long histories of increasing their dividends on a regular basis. Magellan has long been one of the most conservative midstream partnerships, focusing on self-funding as much of its growth as it can to avoid dilutive unit sales -- a model which peer and industry bellwether Enterprise Products Partners L.P. is starting to mimic. This conservative approach, however, doesn't mean the company is skimping on growth.

  • Read This Before You Sell Your Chinese Tech Stocks
    Business
    Motley Fool

    Read This Before You Sell Your Chinese Tech Stocks

    It's been a tough year for Chinese tech stocks, which were torpedoed by the country's escalating trade war with the U.S. and rising interest rates. Baidu (NASDAQ: BIDU), Alibaba (NYSE: BABA), and Tencent (NASDAQOTH: TCEHY) -- the three high-growth "BAT" stocks, which were often compared to the FANG stocks in the U.S. -- each lost more than 20% of their value over the past 12 months. Investors sitting on those big declines are probably wondering if it's time to sell all their Chinese stocks.

  • Here's everyone who has dropped out of Saudi Arabia's 'Davos of the Middle East'
    Business
    Yahoo Finance

    Here's everyone who has dropped out of Saudi Arabia's 'Davos of the Middle East'

    Prominent members of the world’s business community are dropping out of Saudi Arabia’s Future Investment Initiative, a conference that is widely known as the “Davos of the Middle East,” after the disappearance of journalist Jamal Khashoggi, a columnist at the Washington Post. Turkey has accused Saudi Arabia of sending a large task force to murder him and dismember his body. By Sunday evening, JP Morgan CEO Jamie Dimon had pulled out, along with Ford chair Bill Ford.

  • Business
    Barrons.com

    Dow Drops 79 Points and Oil Is the New Fear

    STOCKSTOWATCHTODAY BLOG 6:23 a.m. A bad week ended with a good day. Too bad the good times couldn’t last. S&P 500 futures have fallen 0.4%, while Dow Jones Industrial Average futures have declined 79 points, or 0.3%. Nasdaq Composite

  • Better Marijuana Stock: Aurora Cannabis vs. Auxly Cannabis Group
    Business
    Motley Fool

    Better Marijuana Stock: Aurora Cannabis vs. Auxly Cannabis Group

    One is market cap: Aurora's market cap is nearly 18 times bigger than Auxly's. Then there's stock performance. Here's how Aurora Cannabis and Auxly Cannabis Group stack up against each other in the areas that do matter.

  • Better Buy: Aphria Inc. vs. Constellation Brands, Inc.
    Business
    Motley Fool

    Better Buy: Aphria Inc. vs. Constellation Brands, Inc.

    Aphria ranks as one of the top Canadian cannabis growers, a pure-play marijuana stock if there ever was one. Big alcoholic beverage maker Constellation Brands dipped its toes in the water of the cannabis industry last year, buying a 9.9% stake in Canopy Growth (NYSE: CGC).

  • How Sears plans to save 400 stores from dying
    Finance
    Yahoo Finance

    How Sears plans to save 400 stores from dying

    This March 1, 1959, file photo shows a Sears building in downtown Houston. Sears has filed for Chapter 11 bankruptcy protection Monday, Oct. 15, 2018. (Houston Chronicle via AP, File) Sears doesn’t think it’s dead just yet. The fallen retailer said Monday