AMZN - Amazon.com, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
1,861.64
-22.94 (-1.22%)
At close: 4:00PM EST
Stock chart is not supported by your current browser
Previous Close1,884.58
Open1,891.37
Bid0.00 x 1200
Ask0.00 x 900
Day's Range1,847.44 - 1,894.96
52 Week Range1,566.76 - 2,035.80
Volume3,766,181
Avg. Volume3,046,209
Market Cap922.996B
Beta (5Y Monthly)1.51
PE Ratio (TTM)82.49
EPS (TTM)22.57
Earnings DateJan 29, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est2,181.63
  • Earnings extravaganza, FOMC meeting, GDP: What to know in the week ahead
    Yahoo Finance

    Earnings extravaganza, FOMC meeting, GDP: What to know in the week ahead

    Several events with market-moving potential will test markets this week.

  • U.S. stock futures tumble as China coronavirus spreads, worries escalate
    MarketWatch

    U.S. stock futures tumble as China coronavirus spreads, worries escalate

    Wall Street is braced for losses at the start of the weekend amid deepening worries over China’s coronavirus,with the death toll and the number of infected soaring. That’s as markets kick off a huge week for earnings.

  • Exclusive: Kshama Sawant readies for another 'head tax' fight
    American City Business Journals

    Exclusive: Kshama Sawant readies for another 'head tax' fight

    The city councilwoman says the money Amazon spent to defeat her in the election backfired, and she will spend her next term fighting for the same issues that defined her campaign.

  • Amazon workers criticize company’s record on climate change
    MarketWatch

    Amazon workers criticize company’s record on climate change

    Hundreds of employees are openly criticizing Amazon’s record on climate change despite what they say is a company policy that puts their jobs at risk for speaking out.

  • Amazon Employees Escalate Climate Challenge to Management
    Bloomberg

    Amazon Employees Escalate Climate Challenge to Management

    (Bloomberg) -- More than 350 Amazon.com Inc. employees contributed public statements focused on the company’s climate practices, defying company policy and escalating a feud between management and a coalition of concerned workers.The employees’ comments, posted to Medium on Sunday, come a few weeks after it emerged that Amazon had threatened workers who had talked to the Washington Post with disciplinary action or termination if they continued to speak publicly about the company without authorization. The employees are members of Amazon Employees for Climate Justice, an organization that has been campaigning for more than a year to get Amazon to cut ties with fossil fuel companies and commit to limiting its contribution to greenhouse gas emissions.Among the newly published contributions, each of them from named Amazon workers, the shared sentiment is summed up by the comment of Amanda Seyfer, a software development engineer: “Amazon has the scale to be a bold leader in the move toward clean energy, or a significant contributor to climate change. We know we’ll have to deal with this eventually, so why wait?”Amazon Threatens to Fire Climate Activists, Group SaysAmazon Chief Executive Officer Jeff Bezos in September announced an initiative aimed at making his company a net-zero carbon emitter by 2040 and to court other companies to join a pledge to do the same. The next day, thousands of Amazon employees walked off the job in a show of support for student-led climate marches around the world. Some Amazon employees there took credit for their executives’ new public commitment to the environment and asked for more.An Amazon spokesperson, in an emailed statement, said “of course we are passionate about these issues.”“While all employees are welcome to engage constructively with any of the many teams inside Amazon that work on sustainability and other topics, we do enforce our external communications policy and will not allow employees to publicly disparage or misrepresent the company or the hard work of their colleagues who are developing solutions to these hard problems,” the statement said.To contact the reporter on this story: Matt Day in Seattle at mday63@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Vlad SavovFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • A New Type of Bond Could Help Japan’s Utilities Cut Emissions
    Bloomberg

    A New Type of Bond Could Help Japan’s Utilities Cut Emissions

    (Bloomberg) -- Japanese power producers have been emitting more carbon dioxide since a nuclear disaster in 2011 led to an increased reliance on fossil fuels, but a new kind of bond could help them reverse that trend.So-called transition bonds can pay for not-so-green companies to move toward cleaner business models, and Japanese electrical utilities could issue them to help reduce carbon emissions, according to Mana Nakazora, chief ESG and chief credit analyst at BNP Paribas SA. Companies overseas such as Hong Kong’s Castle Peak Power Finance Co. and Brazil’s Marfrig Global Foods SA have already sold such notes.Read a QuickTake about transition bondsThe introduction of transition bonds in Japan could provide investors with more opportunities to put their money in environmentally-friendly debt at a time when its Japanese market is expanding fast. Japan aims to reduce emissions from fossil-fuel generated power 34% by 2030, as part of a broader commitment to cut total emissions by 26%, according to BloombergNEF. However, those cuts are being measured against the highest levels in decades, set in 2013.In the meantime, companies abroad are pushing ahead with issuance of debt they call transition bonds.Castle Peak, a subsidiary of CLP Holdings Ltd., issued $500 million of notes in July 2017 to pay for a natural gas plant that it said was critical to Hong Kong’s efforts to cut emissions. Marfrig, the world’s second-largest beef supplier, sold $500 million of bonds last year that it said will fund the purchase of cattle from ranchers in the Amazon region who comply with non-deforestation and other sustainable criteria.Read more: Europe’s ‘Taxonomy’ May Set Global Standards for Green: Q&ATo contact the reporter on this story: Ayai Tomisawa in Tokyo at atomisawa@bloomberg.netTo contact the editors responsible for this story: Andrew Monahan at amonahan@bloomberg.net, Ken McCallumFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Exclusive: Amazon to open two new delivery stations in San Jose
    American City Business Journals

    Exclusive: Amazon to open two new delivery stations in San Jose

    Amazon plans to open two new delivery stations in San Jose this year after leasing an entire warehouse building and an under-construction advanced manufacturing/warehouse facility in San Jose, a company spokesperson said.

  • The Dow is about to face its stiffest test in years
    MarketWatch

    The Dow is about to face its stiffest test in years

    The Dow Jones Industrial Average increased more than 22% in 2019 and is already up 2.2% through three weeks of 2020, but it is about to face its biggest test of the young year, and potentially many years.

  • Business Wire

    Nicholas Braun Receives the IMDb STARmeter Award at the 2020 Sundance Film Festival

    NICHOLAS BRAUN RECEIVES THE IMDb STARMETER AWARD AT THE 2020 SUNDANCE FILM FESTIVAL

  • Bloomberg

    Spy Novels Need to Come in From the Cold War

    (Bloomberg Opinion) -- The golden age of the spy thriller ended with the Cold War. But of late, news reports have provided enough material for a silver age to start — if authors take heed.The last time a spy thriller topped the list of a year’s bestselling novels in the U.S., compiled by Publisher’s Weekly, was in 1988 or 1989 — depending on whether one counts the latter year’s “Clear and Present Danger” by Tom Clancy as an espionage novel or a political one. (In 1988, another Clancy book, “The Cardinal of the Kremlin,” unmistakably a spy novel, was number one.) John Le Carre, who had his first book on top of the list in 1964 (“The Spy Who Came in from the Cold”) and was in the Top 10 a total of nine times, had his last big hit in 1989, too, with “The Russia House,” although he has continued to publish regularly. That year, glasnost reigned in Mikhail Gorbachev’s moribund Soviet Union and the Berlin wall came down. In November, 1989, the New York Times book critic Walter Goodman wrote — prophetically, as it turned out — about the future of spy fiction:With ideological walls tumbling and affinities popping up, lesser practitioners find themselves in straits whose direness matches those of their heroes. An Ian Fleming might bring into play some space-age Mafia out to extort billions from both Washington and Moscow, but his books were always kid stuff. Will [Len] Deighton resort to having his creations take on Colonel Muammar Qaddafi of Libya or General Manuel Antonio Noriega of Panama, at the risk of provoking a PEN resolution against picking on little guys? And will [Le Carre’s] next plot find hardliners in the Pentagon and the Kremlin united against the Greens? Until new threats present themselves, addicts of the spy stuff may find themselves out in the cold.All these tacks, and countless variations, have been tried, and some novels have sold well. But it’s a sign of the genre’s decline that the current Top 10 of espionage bestsellers on Amazon.com includes — in the third spot, no less — Le Carre’s “The Honorable Schoolboy,” originally published in 1977. The post-Cold War offerings in the genre, or at least those of them that didn’t take the reader back to the World War II and its long aftermath, suffered from a critical flaw: The absence of an underlying clash of civilizations and value systems. Not even the post-9/11 war on terror provided that missing element. In 2011, the website Salon.com collected the views of spy-novel writers and qualified readers on the genre’s post-Cold War development. Amid practitioners’ comments to the effect that spy fiction is alive and well regardless of who the adversaries of intelligence services are, the words of Tom Nichols, a professor of national security affairs at the U.S. Naval War College, stood out. “Without the Soviet Union (or Nazi Germany before it) and the struggle with a titanic power, there’s really not much to the genre,” he said. “The kind of novel where the world itself hangs in the balance, where moral choices are stark because they are moral choices — that’s gone now.”Without such a grand conflict, according to Nichols, spy fiction became cynical, painting all governments with the same critical brush. “Most importantly, the bad guys — usually greedy businessmen or terrorists — are now uninteresting,” Nichols said. “Terrorists are especially uninteresting, because for a spy novel to work, the agent needs a worthy adversary” — and terrorists are essentially just a bunch of petty criminals trying on a bigger hat that doesn’t fit them.In short, Western spy fiction needs state actors with strong non-Western or, better, anti-Western values to become exciting again. In real life, these state actors are back, and there’s a greater variety of them than during the Cold War.First, there’s Russia, of course. Highly professional Russian spies, reminiscent of the Cold War crop, operate in Le Carre’s latest offering, last year’s “Agent Running in the Field.” But the doyen of the genre is behind the curve: Today’s Russian spy thriller should, by rights, be a black comedy featuring the ham-handed operatives of the Russian military intelligence, formerly known as the GRU.The latest story providing fuel for this treatment features the two Russian “plumbers” with diplomatic passports discovered by the Swiss intelligence in Davos, Switzerland, apparently trying to install surveillance equipment to spy on the world leaders and billionaires who arrive there every year for the World Economic Forum. Earlier installments include the failed assassinations of three Bulgarian arms-making executives; the bungled poisoning of former double agent Sergei Skripal in Salisbury, England, by two thugs who claimed to have come to look at the spire of the local cathedral; and an amateurish coup attempt in Montenegro in 2016. Then, for authors still looking for sophistication in spying, there’s China, trying to make inroads into the European Union, a more welcoming playground for its state-owned businesses than the U.S. This month, the scandal making headlines in Brussels and Berlin involved a top former EU diplomat — named in a Politico story on Thursday — who is married to a Chinese woman and who reportedly spied for China while maintaining a network of high-powered friends. The ex-diplomat, lately employed by a lobbying firm, denies the accusations.Finally, there’s the almost-unbelievable story of Saudi Crown Prince Mohammed bin Salman’s suspected hacking operation against Amazon.com Inc. founder Jeff Bezos. Here’s an almost-head-of-state reportedly personally involved in spying, and in cyber-spying at that. In all three cases, stark moral choices and values clashes are evident. In all three, the West’s adversaries are foreign powers, not mere lone wolves or terrorist groups. The conflicts are quintessentially modern: Law-governed states vs. authoritarian ones; free enterprise vs. state capitalism; moxie vs. mass surveillance. In an increasingly transactional, leaderless world, it’s every country for itself — and that’s potentially more interesting than the duality of Cold War. It’s not about “picking on little guys,” but rather a free-for-all that has come to involve smaller countries in more terrifying, and intriguing, ways than before.This is heady stuff just waiting for the literary equals of Le Carre or plot-moving geniuses of Clancy’s stature to turn into fiction. There are certainly lots of former spies around, bitterly disappointed by “deep state” narratives that devalue their work, who could try their hand at modernizing the espionage thriller. As an "addict of the spy stuff," to use Goodman's description, perhaps there's hope for me again.(This is my last column for Bloomberg Opinion. I'm moving to the news automation team at Bloomberg News to try my hand at teaching machines to help organize data into stories; I'm pretty sure they won't be writing columns anytime soon, though, so please keep reading my wonderful colleagues.) To contact the author of this story: Leonid Bershidsky at lbershidsky@bloomberg.netTo contact the editor responsible for this story: Tobin Harshaw at tharshaw@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Leonid Bershidsky is Bloomberg Opinion's Europe columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    CORRECTED-Dinner download: Tape surfaces of Trump calling for envoy's firing

    Halfway through a dinner at the Trump Hotel, U.S. President Donald Trump can be heard giving the order to remove the U.S ambassador to Ukraine, Marie Yovanovitch, according to a video that surfaced on Saturday. The video, obtained by Reuters from Lev Parnas' attorney Joseph Bondy, begins with Trump posing for photos then entering a room with a table set for 15 including a close-up of the president's place setting. Trump has said he had the right to fire Yovanovitch, a main figure in the series of events that led to his impeachment.

  • Bloomberg

    Prepare for Turbulence in Emerging Markets

    (Bloomberg Opinion) -- Encouraging trends in emerging markets belie their volatility since the taper tantrum of 2013, when the Federal Reserve signaled it was pulling back on quantitative easing. Further turbulence is likely, despite the improving outlook for advanced economies, easing trade tensions and accommodative monetary policy.The International Monetary Fund estimates that growth in developing countries fell to 3.7% last year, the slowest pace since 2009 and well below the IMF’s July 2019 forecast of 4.1%. An expected rebound to 4.4% this year assumes highly uncertain recoveries in stressed economies such as Argentina, Iran and Turkey, as well as in countries where growth has slowed significantly — China, Brazil, India, Russia and South Africa among them.Rising friction in the Middle East, if sustained, could result in higher energy prices and supply disruptions for developing countries. India, which recently downgraded growth for the 2020-21 fiscal year to 5%, the slowest pace in a decade, imports more than 70% of its oil needs. A price rise of $10 per barrel widens the current account deficit by 0.4 % of gross domestic product. Every increase of 10% adds 0.2% to the rate of inflation, which is already above the Reserve Bank of India’s 4% target.Higher borrowing costs and a stronger U.S. currency due to haven demand would hurt developing countries. Between 2010 and 2018, low exchange-rate volatility and high interest-rate differentials caused non-bank financial institutions in emerging markets to double their U.S. dollar-denominated debt to $3.7 trillion. Much of this is unhedged.Further geopolitical risks include North Korea’s missile-rattling, challenges in Hong Kong and Taiwan to Beijing’s assertions of authority, and China’s territorial maritime disputes with its neighbors. Japan and South Korea are contesting matters arising from World War II. India’s proposed changes to citizenship laws and the status of Kashmir is fomenting domestic unrest and tensions with predominantly Muslim Pakistan and Bangladesh.Meanwhile, the spread of a new virus that originated in China threatens to depress retail sales and tourism in Asia, helping to bring a global stock rally to a halt last week.These stresses exacerbate long-term structural problems. The early 2000s and the period immediately following the global financial crisis saw a synchronized acceleration of growth across the world. But advanced economies have slowed and their long-term potential rate of expansion has fallen.The latest IMF estimates released last week have growth in advanced economies stabilizing at 1.6% in 2020-21, compared with 2.3% in 2018 and 0.1 percentage point lower than in its October forecast. Underlying this stagnation is the flagging potency of debt-fueled growth, flat productivity, limited policy options, and unfavorable demographics. Emerging economies cannot rely on historic demand for exports to drive future expansion.Despite the U.S.-China phase one trade agreement, conflicts won’t abate. Sino-American trade tensions alone will cumulatively reduce the level of global GDP by 0.8% by 2020. The Trump administration also has trade disputes with the European Union, Australia, India and Vietnam, among others. France and the U.S. are trying to de-escalate threatened tariffs on champagne and cheese in retaliation for a digital tax affecting Alphabet Inc.’s Google and Amazon.com Inc.Trade volume growth fell to about 1% in 2019, the weakest level since 2012. The retreat from a rules-based trade system and the weaponizing of trade interdependence will damage everyone.In the past 20 years, China, a crucial driver of emerging markets, went from a 10th to two-thirds the size of the U.S. economy, assisted by trade within the WTO framework. Today, China’s blacklisted Huawei Technologies Co. relies on chips designed in America while advanced economies benefit from its cheaper and often cutting-edge 5G technology. Three-quarters of the world’s smartphones, mostly made in emerging markets, use Google’s Android mobile operating system. American restrictions hurt developing nations as well as consumers in advanced economies.In a world of limited demand, irrespective of leadership or ideology, governments everywhere face a mounting anti-globalization backlash. Nationalist agendas and a shift to autarky – closed economies – will persist. A return to strong growth in trade and cross-border capital flows seems unlikely.This affects developing-world economic models. Lower-income nations focused on export-oriented industries, such as textiles and manufacturing, exploiting cheap costs. Now, weak demand and trade disputes limit this option. Higher-income developing countries face technology transfer restrictions that affect improvements in productivity. Meanwhile, automation decreases the advantages of low-skilled, cheap labor and offshoring. Bringing manufacturing home to advanced economies decreases companies’ exposure to disruption, currency fluctuation and political interference. The failure of Prime Minister Narendra Modi’s “Make in India” strategy reflects these shifts. India has failed to produce the 1 million new jobs per month needed to absorb new entrants into the workforce. Indian Railways recently received 23 million applications for 90,000 vacancies.Slower growth creates a dangerous feedback loop. Dissatisfaction with improving ordinary lives can prompt civil unrest. Countries rich in scarce resources, or having large internal markets such as China, India, and Indonesia, may muddle through.Others will struggle. Rising nationalism and protectionism are likely outcomes, and will only deepen the wedge between advanced and emerging economies. It will make an interesting if rough ride ahead for investors. To contact the author of this story: Satyajit Das at sdassydney@gmail.comTo contact the editor responsible for this story: Patrick McDowell at pmcdowell10@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Satyajit Das is a former banker and the author, most recently, of "A Banquet of Consequences."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Amazon hits $200 billion mark beating Google and Apple to become world’s most valuable brand
    MarketWatch

    Amazon hits $200 billion mark beating Google and Apple to become world’s most valuable brand

    Amazon has boosted its position as the world’s most valuable brand surpassing Google, Apple and Microsoft, according to a global report.

  • World About to Learn If $1 Trillion Tech Rally Was a Good Idea
    Bloomberg

    World About to Learn If $1 Trillion Tech Rally Was a Good Idea

    (Bloomberg) -- Companies in the Nasdaq 100 are headed into earnings season with momentum that approaches the unprecedented, their value up by more than $1 trillion since October.Now the world finds out if the rally made any sense.Twenty-six constituents are due to report quarterly results next week, including three of the four biggest U.S. companies, over one blistering 48-hour stretch starting Tuesday. With trillion-dollar-plus market capitalizations and a doubling in Apple Inc. since 2018 to account for, it’s possible investors will be in a less-forgiving mood than usual.As things stand now, Nasdaq stocks are perched at the highest forward valuation since 2007 and investors are getting progressively less patient with failure. Already this reporting season, companies in the broader market whose sales and earnings trailed analyst estimates have seen their shares pummeled the next day by the most in five quarters.“The market isn’t going parabolic, but some of these tech stocks really have,” said Randy Frederick, a vice president of trading and derivatives at Charles Schwab. “If you miss the bar, you’re going to get punished, no question about that.”A four-day week before the landing of big tech earnings saw the Nasdaq 100 slip 0.4% as stocks wavered amid concern over the spread of a virus that started in China. Seven straight weeks of gains have pushed the index to 23 times its forecast earnings, about 30% higher than its 10-year average. That valuations are stretched doesn’t mean stocks can’t rally further. It does raise the drama headed into earnings season.The latest leg of the bull market has come at a time when overall earnings have stopped rising for most industries -- the reason valuations have swelled so much. While the index rose every quarter of 2019 in terms of price, profits fell in two and are now forecast to contract in a third. Given the Nasdaq surged 38%, investors have obviously been OK looking past those numbers. But any indication that 2020’s expectations are optimistic may be taken poorly by stock bulls.That dynamic is writ large in the tech industry, where earnings have dropped 3% or more in each of the past three quarters. Computer and software makers are expected to post a 0.8% profit contraction in the three months through December. Early returns have been encouraging. Texas Instruments, a bellwether for chip stocks, posted results that topped estimates. Intel Corp. reported sales guidance that came in above industry trends.Despite the recent quarterly hiccups, combined net income of five largest tech companies -- Apple, Amazon, Microsoft, Alphabet and Facebook -- totaled $40 billion in the third quarter, 38% above the same period two years ago.“Multiples have expanded, but quarter-over-quarter these companies continue to grow earnings and that’s the whole key,” said Gary Bradshaw, a Texas-based portfolio manager at Hodges Capital Management, who owns shares of Apple, Microsoft, Amazon and Facebook. “It’s one of the areas in the marketplace where you’re seeing good growth. This isn’t 1999 or 2000 when you were valuating those tech stocks on eyeballs.”The cost of falling short has risen as well. A broader gauge of tech, online retail and Internet services stocks dropped 0.9% the day after reporting a miss on second-quarter sales and earnings per share, data compiled by Credit Suisse show. In the third quarter, the average slump was 6.8%.Apple will release quarterly figures on Tuesday, and analysts are focused on how the firm fared during the holiday season and dealt with uncertainty around tariffs. Microsoft, up 62% since the start of 2019, reports Wednesday. Investors will see whether the demand for its cloud-computing programs remains strong. Facebook, which has rallied 66% over that stretch, reports the same day.“I’d expect a little more leadership out of value-oriented sectors, more economically sensitive parts of the market,” Jeff Kleintop, chief global investment strategist at Schwab Center for Financial Research, said by phone. “I think investors seem to be comfortable with sticking with the leaders that got them here, at least for the time being,”\--With assistance from Wendy Soong.To contact the reporters on this story: Elena Popina in Hong Kong at epopina@bloomberg.net;Sarah Ponczek in New York at sponczek2@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Chris Nagi, Richard RichtmyerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Barrons.com

    Decoupling from China, Betting on Amazon, U.S. Demographic Woes

    Market strategists and newsletter writers share their views on geopolitics, trading strategies, and economic issues.

  • Barrons.com

    Esports Is Finding a Huge Audience. These Stocks Are the Best Plays.

    Tech companies including Amazon.com and Microsoft are competing for a bigger slice of the esports live-streaming business, which could present an opportunity for investors.

  • What drove user interest and what can we expect moving forward?
    Yahoo Finance

    What drove user interest and what can we expect moving forward?

    As we kick off 2020, we're taking a look at the past year's most popular stocks and the trends that fueled them. To do this, we took a peek within our award-winning technical analysis product Technical Insight to see which U.S. instruments yielded the highest search rate from our global investor base throughout 2019.

  • Barrons.com

    ‘The Witcher’ Is Now Netflix’s Most Important Show. Here’s Why It’s a Game-Changer.

    “The Witcher” was watched by 76 million households in just four weeks. It could remake the way TV shows get made.

  • Barrons.com

    Deere, Chevron, and 30 Other Stock Picks From the Barron’s Roundtable

    Five experts recommend everything from blue-chip stalwarts and gold to a high-tech battery maker and a little-known home builder.

  • Bloomberg

    YouTube Gets Streaming Rights to Major Esports Leagues

    (Bloomberg) -- YouTube secured the exclusive rights to broadcast some of the biggest esports leagues, giving Google a boost in its efforts to push into the lucrative world of video games.The deal, signed between Alphabet Inc.’s Google and video game publisher Activision Blizzard Inc., gives YouTube the rights to broadcast the new Call of Duty League and the already-popular Overwatch League, which was broadcast on Amazon.com Inc.’s Twitch for the past two years at a reported cost of $90 million. As part of the agreement, Google will provide cloud infrastructure for Activision’s online games. Financial terms of the multiyear deal were not disclosed.Gaming is a significant new frontier for Google. Last year, it released a game-streaming service called Stadia, which lets people play games through the internet without having to buy a console or high-powered computer. YouTube has always been a major destination for watching people play video games, but the company is trying to take even more territory by poaching well-known game players from Twitch.‘All-Out Talent War’ in Video Gaming Sparked by Ninja Defection“In 2020 Google is going all out to claim a piece of the $120 billion games market,” said Joost van Dreunen, managing director of Nielsen’s video-game research arm. “Google is off to a great start to building strong relationships with content creators which it will need to differentiate as it tries to penetrate the industry via different avenues.”The news isn’t good for Amazon, which hasn’t announced a competitor to Stadia and still faces uncertainty about its in-house gaming studio, van Dreunen said. “The longer Amazon remains on the sidelines of technological shifts in the games business, the harder it will be to capture share down the line,” he said.The deal offers a strong boost to the central thesis of Activision’s esports efforts. The publisher pitched investors on the Overwatch League and the Call of Duty League, which launches later this month, as esports equivalents to traditional sports leagues like the National Basketball Association or National Football League. Selling media rights to companies like YouTube is a central piece of how these leagues make money.Providing hosting services to Activision is also a win for Google’s cloud division, which is trailing Amazon and Microsoft Corp. in that market.(Updates with comment from analyst in the fourth paragraph.)\--With assistance from Eben Novy-Williams.To contact the reporter on this story: Gerrit De Vynck in New York at gdevynck@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Previewing Tech Sector Earnings
    Zacks

    Previewing Tech Sector Earnings

    Previewing Tech Sector Earnings

  • Reuters

    US STOCKS-The S&P 500 has worst day since October as virus fears mount

    Wall Street fell in a broad sell-off on Friday, as investors fled equities on growing concerns over the scope of the coronavirus outbreak, capping the S&P 500's worst week in six months. All three major U.S. stock averages turned sharply negative, with the S&P 500 seeing its biggest one-day percentage drop in over three months after the Centers for Disease Control and Prevention confirmed the second case of the virus on U.S. soil, this time in Chicago.

  • ETF Trends

    A Big Week Ahead for Technology ETFs

    Technology sector ETFs are in for a big week ahead as tech stock “Cadillacs” are up to bat. While investors were initially put off by the lackluster quarterly report out of Netflix (NasdaqGS: NFLX) on ...