|Bid||1,608.50 x 900|
|Ask||1,609.85 x 800|
|Day's Range||1,604.55 - 1,628.91|
|52 Week Range||1,307.00 - 2,050.50|
|Beta (3Y Monthly)||1.71|
|PE Ratio (TTM)||79.84|
|Earnings Date||Apr 24, 2019 - Apr 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2,075.74|
Amazon avoids paying federal tax — for the second year in a row, according to a new report.
Amazon has paid zero federal taxes for the second year in succession, despite a doubling of its profits, according to a new report. Although the tech giant founded by Jeff Bezos saw its profits grow from $5.6bn (£4.3bn) in 2017 to $11.2bn (£8.7bn) in 2018, it will actually receive a tax rebate of $129m (£100m). “The company’s newest corporate filing reveals that, far from paying the statutory 21 per cent income tax rate on its US income in 2018, Amazon reported a federal income tax rebate of $129m,” said the report by the Institute on Taxation and Economic Policy (ITEP), which describes itself as a “non-partisan, non-profit think thank”, based in Washington DC.
NEW YORK (AP) — In early November, word began to leak that Amazon was serious about choosing New York to build a giant new campus. The city was eager to lure the company and its thousands of high-paying tech jobs, offering billions in tax incentives and lighting the Empire State Building in Amazon orange.
Apple's stock had risen 436% in the five years preceding that dinner. After everyone gave an answer, the seasoned chip executive confidently predicted Apple's stock would actually be lower in five years' time, not higher. The executive was wrong, however: Apple shares went on to double in the ensuing five years.
The stock is 7.2% below its Nov. 12 high of $106.21. This dual-volatility since the beginning of 2018 was primarily caused by the retailer's challenge to compete with Amazon.com Inc. As a consumer, 95% of my shopping is on Amazon Prime.
Amazon has thrown down the gauntlet to Alexandria Ocasio-Cortez, inviting the congresswoman to visit one of its facilities after she claimed the tech giant had created “dehumanising conditions” for its workers. The 29-year-old congresswoman was among those who celebrated after Amazon announced this week it was pulling out of plans to open what it termed a second headquarters in New York City. Ms Ocasio-Cortez, who represents the city’s 14th district, which is close to the Long Island City neighborhood of Queens where the facility was to be based, had opposed the $3bn in tax incentives the state and city had offered the e-commerce giant, headed by Jeff Bezos.
A positive consumer sentiment report for February also buoyed investor sentiment, which told a different tale than the poor consumer confidence report for December that we mentioned yesterday. As I mentioned, yesterday's report may have been compromised by the government shutdown last month, as well as lackluster holiday sales.
Inc.’s sudden move to abandon plans for a new campus in New York ends the protests in the city but doesn’t remove the national scrutiny being placed on the company, according to corporate reputation and management experts. “There are two very energetic forms of populism in the U.S. right now, one on the left and one on the right, and neither likes Amazon that much,” said Brayden King, professor of management at Northwestern University’s Kellogg School of Management. In the short term, experts said, Amazon likely would see little impact to its sales.
Steve Ballmer may bleed Microsoft, but that didn’t stop him from delivering a flesh wound to his former employer. AWS, Amazon.com’s giant cloud computing service, announced Friday a deal to provide data analytics and artificial intelligence services for the CourtVision service owned by the Los Angeles Clippers.
An HQ2 fiasco, a multibillion-dollar divorce -- is Amazon's armor starting to show some cracks? Politicians and activists who opposed the facility cheered Amazon's sudden exit as others bemoaned the loss of up to 25,000 jobs and associated tax revenues. "I think they got lucky, in that New York City looks so bad," said Allen Adamson, co-founder of Metaforce and a professor at NYU's Stern School of Business.
The tech giant may not be able to increase its e-commerce revenue as fast as it used to, but you'll appreciate where it is growing the fastest.
China trade talks and waning shutdown fears provided a lift for stocks. The plan calls for $1.37 billion for 55 miles of fencing—down from the $5.7 billion for a wall that resulted in the December shutdown—and a cap on “beds” for detention of illegal immigrants. The U.S. continues to hammer China telecom Huawei Technologies.
Amazon.com Inc. founder Jeff Bezos’ claim that the National Enquirer tried to blackmail him after obtaining embarrassing photos of the tycoon shocked some observers, but it might ring familiar to other celebrities who have tangled with the supermarket tabloid, including fitness guru Richard Simmons and talk-show host Dr. Phil. Mr. Bezos’ lengthy online post on Feb. 7 included threatening emails he said were from the Enquirer that are in line with the paper’s no-holds-barred approach: It sometimes gathers damaging material or claims about individuals and uses it as leverage to advance the publication’s interests, instead of printing it. In some cases, the Enquirer tries to curry favor with celebrities by acquiring the rights to a negative story about them and then burying it—a practice known as “catch and kill”—as it did in at least two instances for Donald Trump.
Amazon.com Inc. has climbed aboard the electric-vehicle bandwagon, leading a $700 million investment round for Rivian Automotive LLC, the car-making startup said Friday. Amazon has already placed bets in the area of driverless technology. Last week, the e-commerce giant announced it had invested $530 million in Aurora, an autonomous-vehicle startup run by former employees of Google’s Waymo and Tesla Inc. Early on, Aurora made deals with Volkswagen AG and Hyundai Motor Co. to install its mix of software and hardware in their vehicles.
The collapse of Amazon.com Inc.’s plan to build a second headquarters in New York City has the potential to damp some states’ willingness to offer tax breaks. Spurred by Amazon’s second-headquarters selection process, politicians and groups long opposed to incentive packages have launched legislative efforts to prohibit them in some states. In New York, bills proposed in the State Assembly and Senate call for compacts with other states promising to not provide any company-specific subsidies.
Jeff Bezos and other top Amazon executives gathered in Seattle on Wednesday to decide whether to go ahead with its planned headquarters in New York City. Brian Huseman, vice president for public policy, was on the phone, and the news was not good. Nothing in Mr. Huseman’s call allayed growing fears at the company that the fiercer-than-expected backlash against the $2.5 billion development in Long Island City, Queens, was generating negative publicity and political uncertainty.
CNBC's Robert Frank and NBC News' Anand Giridharadas discuss the merits of taxing wealth in the wake of multiple proposals from Congress to increase taxes on America's richest citizens.