1,746.25 -3.37 (-0.19%)
After hours: 6:17PM EDT
|Bid||1,748.25 x 1000|
|Ask||1,748.90 x 1400|
|Day's Range||1,745.24 - 1,804.90|
|52 Week Range||1,307.00 - 2,050.50|
|Beta (3Y Monthly)||1.58|
|PE Ratio (TTM)||72.59|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2,261.27|
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Emmanuel Macron has gone off piste.It took the French president less than 24 hours to ditch the script, wrong foot his closest partners and toss a curve ball into the buildup to the Group of Seven summit. His fellow leaders hadn’t even landed. And all this when Macron was supposed to be shoring up the European alliance for another confrontation with Donald Trump.When the summit begins Saturday in the French beach resort of Biarritz, the European contingent is supposed to be holding the line over Brexit, pushing for tougher action on climate change and addressing the trade tensions threatening global growth without provoking the U.S. leader. Now they are going to be distracted by a rift between Macron and Germany’s Angela Merkel over how to tackle the environmental threat posed by Brazil.For Macron, for the European Union, and for the transatlantic relationship, the consequences could be far-reaching.Preparations for the summit began to unravel on Thursday evening as Biarritz was about to go into lockdown. The strip of sand that will provide the backdrop for the family photo was still crammed with bathers taking their last swim. Even Macron’s close advisers had no idea about the bombshell the president (who is not a regular tweeter like Trump) was about to drop.Alarmed by the record number of fires ravaging the Amazon jungle, Macron announced that the "emergency" would be a central focus of his summit, abandoning months of careful choreography that even involves France’s most celebrated chef preparing meat for Trump and vegetarian fare for special guest Narendra Modi.Problem was he didn’t seem to have let key players in on his decision. Within two hours, his call to arms was met with a furious response from Brazilian President Jair Bolsonaro, who accused Macron of colonial posturing. Affairs relating to Brazil should not be discussed without Brazil at the table, Bolsonaro said.Read more: The Amazon Rainforest Is on Fire, and It’s Getting WorseMacron’s critics on social media pointed out that he’d used an outdated picture of an older blaze.Officials in the G-7 clan were waking up to the news along with the rest of the world. Concern about the environment is something shared by many Europeans, and the sense from officials was that they were willing to accept having the burning of the rainforest thrust onto the agenda at the last moment.A slow drip of benign responses began to come in. A spokesman for the U.K.’s Boris Johnson said the British leader would echo his call for action on the Amazon. Merkel’s spokesman backed Macron’s decision to involve the international community, siding with him against Bolsonaro.Trump, meanwhile, exchanged attacks with Beijing over trade. Markets tumbled as the president said he’d "ordered" the U.S. to disengage from China. But rather than seeking to capitalize, the French leader upped the ante.Another ShockerMaybe he took offense at the colonialist jibe, maybe it was headlines from Brazilian officials bringing up forest fires in Portugal and Siberia. Whatever it was, Macron had another shocker up his sleeve.In a terse statement from the Elysee palace, he branded Bolsonaro a liar and vowed to block the EU’s trade deal with South America’s biggest economies unless Brazil takes its environmental obligations seriously.Tearing up a summit agenda is one thing. But this was a whole other order of magnitude.The EU’s trade accord with Mercosur has been 20 years in the making, will ease tariffs on some $90 billion of annual commerce, and was Europe’s biggest riposte to Trump’s assault on the multilateral trading order. Spanish Prime Minister Pedro Sanchez, invited to the summit as Macron’s special guest, is set to be one of the biggest winners from the deal and invested time and political capital to get it over the line just eight weeks ago. Sanchez had no warning the announcement was coming, according to an official.In The OpenThe public slapdown in the end came from Merkel.Her spokesman told Bloomberg that the chancellor doesn’t believe shooting down the trade deal will achieve Macron’s aim of slowing deforestation in Brazil and actually contains binding commitments on climate protection. She doesn’t think threatening to block the accord is an appropriate response to what is happening in Brazil, he added.After Macron’s political maneuvering over talks with Washington, Merkel had already concluded that she couldn’t rely on France when it comes to trade. Now their split is out in the open.Johnson is seeking to divide them over Brexit. Trump is cranking up the pressure on a host of issues from trade to Iran and economic policy.If they were looking for clues to how robust the EU’s essential alliance is ahead of their latest assault, Macron just handed it to them on a plate.To contact the reporters on this story: Arne Delfs in Biarritz, France at firstname.lastname@example.org;Helene Fouquet in Biarritz, France at email@example.comTo contact the editors responsible for this story: Ben Sills at firstname.lastname@example.org, ;Flavia Krause-Jackson at email@example.com, Robert JamesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Onfleet hit profitability mid-last year, raking in $3.2 million in revenue in 2018 and growing by double digits.
The Jeff Bezos-backed glassware company is planning to open a store and hot shop inside Amazon's developing Denny Triangle campus.
Lone Pine Capital's flagship hedge fund outperformed the S&P 500 Index by nearly 8 percentage points per year since its inception in 1998. But that's mostly because of its tremendous success in the earlier years of the fund. Nowadays Lone Pine's returns go hand in hand with the market. For example, last year Lone Pine's […]
A major retailer, presumably Amazon.com Inc. (NASDAQ: AMZN), will not build a massive fulfillment center at Westphalia Town Center, Prince George's County Executive Angela Alsobrooks announced Friday. “Earlier today I was informed by the company that planned to build a fulfillment center at the Westphalia Town Center that they would no longer be pursuing that site," Alsobrooks said in a statement. "It is our intention to work with the company to identify more suitable locations in the county where they may be able to bring their products." The fulfillment center had been approved by both the Prince George's County Council and the Prince George's Planning Board.
U.S. stock futures are trading lower this morning after China said it would impose new tariffs on an additional $75 billion in U.S. goods. Another potentially market-moving event today is an address by Federal Reserve Chair Jerome Powell to economists that could provide further insight into the future path of interest rates.Source: Shutterstock Against this backdrop, futures on the Dow Jones Industrial Average are down 0.52%, and S&P 500 futures are lower by 0.50%. Nasdaq-100 futures have shed 0.75%.In the options pits, call volume won the day Thursday even as overall activity fell below-average levels. Specifically, about 14.8 million calls and 13.3 million puts changed hands on the session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMeanwhile, over at the CBOE, the spread between calls and puts narrowed, driving the single-session equity put/call volume ratio back up to 0.74 -- a one-week high. The 10-day moving average held its ground at 0.72.Options activity was buzzing in Gap (NYSE:GAP), Boeing (NYSE:BA) and Amazon (NASDAQ:AMZN), among others.Let's take a closer look: Gap (GPS)The drumbeat of retail earnings continued this morning with Gap. This season some companies like Target (NYSE:TGT) have dazzled while others like Macy's (NYSE:M) have disappointed. Gap split the difference posting mixed results. * 10 Stocks to Own Through a Global Recession For the fiscal second-quarter, the company raked in adjusted earnings-per-share of 63 cents versus estimates of 53 cents. On the top line sales came in at $4.01 billion versus $4.02 billion expected. Same-store sales were particularly disappointing, falling 4% versus an expected decline of 3.1%.GPS stock is trading down just shy of 5% premarket. Because it rallied a similar amount yesterday in anticipation of this morning's event, the damage isn't that bad. The price trend for Gap shares has been bearish for ages, and this report will do little to change the overall posture. If you are shopping in the land of retail stocks, I suggest steering clear of this one until it can at least break above short-term resistance levels such as the $19 zone.As far as options trading goes, speculators favored calls throughout the day. Activity zipped to a whopping 1,186% of the average daily volume, with 119,063 total contracts traded; 70% of the trading came from call options alone.Implied volatility was running hot ahead of this morning's report. At 73%, it was perched at the 100th percentile of its one-year range. Premiums were baking in a move of $2.23 or 12.6%. So with the stock only falling 4.8%, it's fair to say options buyers way overpaid for their wares. Boeing (BA)Negative news surrounding Boeing's 737 MAX jets has hounded the stock for months now. But yesterday the ailing aerospace juggernaut finally received some good news. According to a Reuters report, the company is planning to begin manufacturing 737 MAX jets again in February at an initial pace of 52 planes per month. The plans hinge on regulators giving the green light for the aircraft to fly once more.BA stock took flight on the news, climbing 4.2% on its highest volume session of the month. The gains were enough to carry the stock north of its 50-day moving average for the first time since last month's earnings ugliness ushered it to the south side of the indicator.Much work remains before BA stock reclaims its former glory, but Thursday's rally could be the first step in reversing its downtrend higher. Look for a run toward the next resistance zone at $380.On the options trading front, call popularity popped alongside the stock. Total activity grew to 67% of the average daily volume, with 211,756 contracts traded. Calls claimed 67% of the take.Implied volatility lifted slightly reflecting increased demand for derivatives. At 29% it now sits at the 30th percentile of its one-year range. Premiums are pricing in daily moves of $6.53 or 1.8% so set your expectations accordingly. Amazon (AMZN)Resistance hangs heavy over Amazon shares, rejecting yet another rally attempt on Thursday. The $1,830 zone has denied no less than five breakout bids over the past month. Yesterday marked the latest rejection ending with a bearish reversal candle. The descending 20-day moving average is also now exerting downward pressure on the shares.On a bright note, the clarity of where resistance lies makes it easy to identify when and if one should become bullish on AMZN stock. If we can close above $1,830, then swing away with bull plays. Otherwise, sellers hold the upper hand. * 7 Internet of Things Stocks to Buy Now The action on the options trading side wasn't all that exciting, and yet AMZN still landed atop the leaderboard. Calls outpaced puts by a slim margin despite the price drop. Activity fell short on the session adding to 92% of the average daily volume, with 153,276 total contracts traded. Calls accounted for 53% of the session's sum.Implied volatility held firm at 25% or the 10th percentile of its one-year range. Premiums are cheap, which increases the appeal of long option plays like debit spreads. Premiums are baking in daily moves of $28.59 or 1.6%.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post Friday's Vital Data: Gap, Boeing and Amazon appeared first on InvestorPlace.
America's trade war with China escalated Friday, with Beijing announcing tariffs on $75 billion of additional U.S. products and President Donald Trump telling U.S. companies to reduce their business with China. "We don't need China and, frankly, would be far better off without them," Trump tweeted Friday morning. "The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP.
The U.S. National Retail Federation (NRF) said on Friday it is "unrealistic" for American retailers to move out of China, the world's second-largest economy, as 95% of the world's consumers live outside the United States. "Our presence in China allows us to reach Chinese customers and develop overseas markets," NRF Senior Vice President for Government Relations David French said in a statement. Earlier, President Donald Trump said he has ordered American companies to exit China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods.
(Bloomberg) -- Amazon.com Inc. struck a deal that gives it the right to eventually buy a stake in India’s Future Retail Ltd., as the U.S. giant seeks to bolster its presence in one of the world’s fastest-growing retail markets.Amazon.Com NV Investment Holdings LLC agreed to buy 49% of Future Coupons Ltd., Future Retail said in a filing Thursday. The deal gives Amazon the option to buy all or part of Future Coupons’ shareholding in Future Retail, though that won’t be exercisable until between three and 10 years.The terms of the agreement weren’t disclosed. The Indian company said earlier this month that Future Coupons held warrants that would give it a 7.3% stake in the listed entity.People familiar with the matter said last week that Amazon was in late-stage talks to acquire as much as 10% of Future Retail, with the Indian company seeking a valuation of about 20 billion rupees ($278 million) for the stake.“Amazon has agreed to invest in Future Coupons Limited, which is engaged in developing innovative value-added payment products and solutions such as corporate gift cards, loyalty cards, and reward cards primarily for corporate and institutional customers,” the Seattle-based company said in an emailed response to Bloomberg. “This investment will enhance Amazon’s existing portfolio of investments in the payments landscape in India.”Shares of Future Retail fell 4.6% in Mumbai on Friday while the main S&P BSE Sensex index gained.Amazon’s AmbitionsThe link-up with India’s No. 2 retailer by revenue underscores Amazon’s ambitions in the country, after losing ground in China. India’s modern retail market will more than double to $188 billion by 2023 from $79 billion last year, according to consultant Technopak Advisors.Amazon is in a battle for India’s consumers with rival Walmart Inc., which spent $16 billion last year to acquire e-tailer Flipkart, and the e-commerce venture of Mukesh Ambani, Asia’s richest man, that plans to combine online and offline retail formats in India.Amazon has been acquiring small stakes in other Indian brick-and-mortar chains in the past few years, such as Shoppers Stop Ltd. and a grocery chain from the Aditya Birla Group.Mumbai-based Future Retail operates more than 2,000 stores across 400 Indian cities, including the “Big Bazaar” stores that are designed to appeal to value-conscious urban consumers.The deal with Amazon will help the Indian retailer adapt better in the highly competitive sector, local brokerage Edelweiss Securities Ltd. said in a note on Friday.“Players opting for omni-channel platform will ace the game,” Edelweiss said, adding that it was essential for Future Retail “to join hands with a global player to bolster it financially as well as technologically.”(Adds Amazon response)\--With assistance from P R Sanjai and Saritha Rai.To contact the reporter on this story: Angus Whitley in Sydney at firstname.lastname@example.orgTo contact the editors responsible for this story: Young-Sam Cho at email@example.com, Jeff Sutherland, Bhuma ShrivastavaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Amazon.com Inc's Audible was sued by some of the top U.S. publishers for copyright infringement on Friday, aiming to block a planned rollout of a feature called 'Audible Captions' that shows the text on screen as a book is narrated. The lawsuit was filed by seven members of the Association of American Publishers (AAP), including HarperCollins Publishers, Penguin Random House, Hachette Book Group, Simon & Schuster, and Macmillan Publishers. "Essentially Audible wants to provide the text as well as the sound of books without the authorization of copyright holders, despite only having the right to sell audiobooks," AAP said in a statement.
CIRP estimates that Amazon Prime members spend $1,400 per year on Amazon’s e-commerce platform—much higher than non-Prime members' $600 annual spending.
Future Retail — which operates Big Bazar and other smaller retailers such as EasyDay, Heritage Fresh and Nilgris — said in a regulatory filing with the stock exchange late Thursday that Amazon is buying a 49% stake in Future Coupons Ltd. Amazon's investment is seen an effort to gain a firm foothold in Indian household and grocery retail.
Amazon (AMZN) is all set to acquire a 49% stake in Future Coupons, a Future Group entity. The deal will give Amazon an indirect stake in Future Retail.
On Friday, China announced that it would impose retaliatory tariffs on $75 billion of U.S. goods. Meanwhile, Charles O'Shea, Moody's retail analyst, thinks major retailers like Walmart, Target, Amazon, Costco and Amazon are actually 'best positioned' to brace the impact of those tariffs. He joins Yahoo Finance's The First Trade to discuss.