1,823.00 +1.50 (0.08%)
After hours: 7:30PM EDT
|Bid||1,819.00 x 1000|
|Ask||1,821.40 x 900|
|Day's Range||1,818.18 - 1,832.54|
|52 Week Range||1,307.00 - 2,035.80|
|Beta (3Y Monthly)||1.62|
|PE Ratio (TTM)||75.57|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2,303.14|
Amazon has ordered 100,000 electric delivery vans from the Rivian, an electric car startup, as part of Bezos' sweeping plan to take climate change. This comes after the online retailer led a $700 million investment round in Rivian earlier this year. Yahoo Finance's Jen Rogers and Myles Udland discuss on The Final Round.
Germany is not going to give companies like Amazon any leeway when it comes to working conditions and responsibility over last-mile delivery.
Beyond Meat announced Thursday afternoon that former Amazon.com and Tesla executive Sanjay Shah will be the meat-alternative company’s chief operating officer.
(Bloomberg) -- Diego Piacentini, a longtime Amazon.com Inc. executive, is joining KKR & Co. as a senior adviser.The former senior vice president of the retail giant will advise the investment firm on technology, media and telecommunication activities globally, according to a statement.Piacentini, who had been a top lieutenant of Jeff Bezos, took a two-year leave from Amazon to work for the Italian government and lead its digital transformation. His 16-year Amazon career ended in August 2016, according to his LinkedIn profile.“Diego has an outstanding track record of leadership in business and government and we’re thrilled that we will be able to benefit from his expertise, particularly as it relates to the technology sector where we are deeply invested and continue to expand our activities across the U.S., Europe and Asia,” KKR’s co-chief operating officers, Joe Bae and Scott Nuttall, said in the statement.Before Piacentini joined Amazon in 2000, he was head of Apple Inc.’s operations in Europe, the Middle East and Africa.To contact the reporters on this story: Crystal Tse in New York at firstname.lastname@example.org;Gillian Tan in New York at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, ;Alan Goldstein at email@example.com, Michael Hytha, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Microsoft (MSFT) stock appears to be one of safest mega-cap tech buys out there at the moment, even at its new all-time highs. And it just raised its dividend and announced a new share buyback program.
After Amazon shareholders rejected proposals in May to detail how the company would reduce fossil fuel dependence, the company pledged Thursday to reach net zero carbon emissions by 2040. Thousands of Amazon employees urged the company to address climate change — and fast. Amazon co-founded The Climate Pledge to meet its contributions for the Paris Agreement to prevent climate change and agreed to measure and report greenhouse gas emissions regularly, take up strategies to cut down on carbon emissions and offset any remaining emissions by 2040.
(Bloomberg) -- Facebook Inc. Chief Executive Officer Mark Zuckerberg clashed with Republican Senator Josh Hawley over his company’s record on privacy and safeguarding user data as the social media platform comes under unprecedented scrutiny in Washington.“I said to him, ‘prove that you are serious about data, sell WhatsApp, and sell Instagram.’ That’s what they should do,” Hawley said to reporters after meeting with Zuckerberg in Washington Thursday. “I think it’s safe to say he was not receptive to those suggestions.”Zuckerberg is in the nation’s capital defending his company’s practices to some of his harshest critics over their concerns that he isn’t taking strong enough action to prevent voter manipulation on the platform ahead of the 2020 presidential election, along with criticisms over the company’s handling of user data and curbing online violence.Hawley said he had a “very frank discussion” with Zuckerberg on the company’s record on privacy and political bias and said he thinks Facebook should be subject to independent audits of its content reviews. Hawley said he also pressed Zuckerberg for “a wall” between Facebook and its other platforms and Zuckerberg said no.Facebook is creating an oversight board to review what content should be policed and just released a charter outlining more details about the group earlier this week.Zuckerberg’s visit to the capital also included dinner Wednesday with Senator Mark Warner, the ranking Democrat on the Intelligence Committee and Senator Richard Blumenthal, a Connecticut Democrat, along with other lawmakers.“Mr. Zuckerberg acknowledged that self-regulation is not going to cut it,” Warner, a Virginia Democrat, said to Bloomberg Television. “I think he realizes that the status quo and the days of the wild, wild West are over.”Warner helped organize the dinner with lawmakers at Facebook’s request, according to Rachel Cohen, a Warner spokeswoman. They discussed a wide range of issues “including the role and responsibility of social media platforms in protecting our democracy, and what steps Congress should take to defend our elections, protect consumer data, and encourage competition in the social media space,” Cohen said in a statement.Facebook is battling criticism from lawmakers over its handling of users’ personal information, the proliferation of violent content and election interference by foreign operatives. In response to the growing scrutiny, Zuckerberg has called for the passage of baseline regulations governing harmful content online.Democratic lawmakers have attacked Facebook’s handling of political content, including the way foreign operators have used the platform to sow discord in American public life. A report by Special Counsel Robert Mueller described how a Russian entity “carried out a social media campaign that favored presidential candidate Donald J. Trump and disparaged presidential candidate Hillary Clinton.”Republicans accuse it of anti-conservative bias. Hawley said that Zuckerberg acknowledged that the company has been struggling with bias for years, and said the censorship of anti-abortion group Live Action was a mistake.“He said that they made a mistake, that there was clearly bias,” Hawley said.Facebook spokesman Andy Stone clarified that Zuckerberg told Hawley there was bias in the fact-checking process, which includes third-party partners, not at Facebook itself. Zuckerberg also told Hawley that for years Silicon Valley has struggled with perceptions of bias and that the industry needs to be aware of the issue, Stone added.The company has found no evidence of systemic anti-conservative bias on Facebook, where many of the top publishers are conservative.Blumenthal said in a statement that he also had a “serious conversation” with Zuckerberg at the dinner, which took place at Ris, an upscale American bistro, about the “challenges of privacy” facing Facebook, which has been ensnared in controversy over the way it has shared users’ information with third parties.“It’s no secret that I’ve been a tough critic of Facebook, so I was glad for the opportunity to discuss my concerns directly with Mr. Zuckerberg,” he said.Zuckerberg also met with Senators Maria Cantwell, a Democrat from Washington state, Utah Republican Mike Lee and Arkansas Republican Tom Cotton. Friday the CEO is slated to meet House Intelligence Chairman Adam Schiff of California.“One of the most pressing issues for me is the threat posed by deepfake technology and it’s potential misuse during the presidential campaign,” Schiff said in an interview with Bloomberg Government.Zuckerberg isn’t meeting with House Speaker Nancy Pelosi, according to a person familiar with the matter. Democrats castigated the company earlier this year after it failed to remove a doctored video of Pelosi. She has snubbed at least two meetings with him, Bloomberg has reported. He also isn’t meeting several high-profile Republicans who are working on a federal privacy bill, including Senator Roger Wicker. Marsha Blackburn said he’d reached out to her but her travel schedule didn’t allow a meeting.Zuckerberg doesn’t appear to be meeting with government officials conducting inquiries. The Federal Trade Commission has opened an antitrust probe of the company, and New York is leading a coalition of states in a wide-ranging investigation of the social media giant. In July, Facebook agreed to pay $5 billion to settle FTC allegations it violated users’ privacy.The House Judiciary antitrust subcommittee is also investigating competition issues in the technology industry. Last week, the panel sent a letter to Facebook seeking information about its acquisitions as well as communications from Zuckerberg, Chief Operating Officer Sheryl Sandberg, former general counsel Colin Stretch and policy chief Kevin Martin.\--With assistance from Billy House, Joe Light, Ben Brody and Kurt Wagner.To contact the reporters on this story: Naomi Nix in Washington at firstname.lastname@example.org;Rebecca Kern in Arlington at email@example.com;Steven T. Dennis in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Beyond Meat Inc. announced Thursday afternoon that former Amazon.com Inc. and Tesla Inc. executive Sanjay Shah will be the meat-alternative company's chief operating officer. Shah was most recently senior vice president of Tesla's solar business, a role he took on in 2018, though Bloomberg News reported last month that he was no longer in charge of the unit. He went to Tesla from Amazon, where he served in a variety of roles from 2011 to 2018. "Sanjay's focus on making operational excellence a sustained competitive advantage, his experience in and appetite for global expansion, along with shared values and a tireless work ethic, makes him a welcome addition to the Beyond Meat family," Beyond Meat Chief Executive Ethan Brown said in Thursday's announcement. As COO of Beyond Meat, Shah will be responsible for the company's global operations and production. In a filing with the Securities and Exchange Commission, Beyond Meat said that Shah would receive a $450,000 sign-on bonus and stock awards totaling $7 million, with $3.5 million in shares vesting on the first anniversary of his hire and the rest vesting on a quarterly basis through his second year. Shah will have a $440,000 annual salary and a targeted bonus of 50% of his salary, and be able to purchase additional shares.
Amazon has set a goal to meet the Paris Climate Agreement objectives by 2040, 10 years early, including a pledge to emit net-zero carbon.
(Bloomberg) -- Follow Bloomberg on LINE messenger for all the business news and analysis you need.Wildfires, smoke and drought are inflicting an increasingly painful toll on Indonesian agriculture, hurting everything from palm oil plantations to rubber trees and rice fields.Raging forest fires in Sumatra and Borneo may curb supplies of palm oil and rubber, while a longer than usual dry season in Java has wilted some of the country’s rice crop, which is the main staple for 270 million people.Smoke from illegal burning to clear land in Indonesia has been worse than usual this year and spread across Southeast Asia, causing flight disruptions and respiratory illness for thousands of people. While Indonesian President Joko Widodo ordered a crackdown on arsonists, there may be little respite soon as the rainy season won’t start before late October, the weather bureau says. Forest fires to clear land have also wrought havoc in the Brazilian Amazon.Drought and haze have set back ripening of palm oil fruit and disrupted operations at plantations and mills, potentially slowing production growth this year to about half last year’s rate of 13%, said Joko Supriyono, chairman of the Indonesian Palm Oil Association. Dry weather normally takes a while to show up in production, with a greater impact likely to be seen in 2020, he said.Slash-and-BurnThe worse than expected dry weather in Sumatra and Kalimantan in Indonesia and Sabah in Malaysia may reduce output from older palm trees, according to Marcello Cultrera, institutional sales manager at Phillip Futures in Kuala Lumpur. The haze from the forest fires has a small impact on palm oil extraction rates and output in the very short term, he said.Farmers in Sumatra and Borneo are using illegal slash-and-burn techniques, which are much cheaper than other methods, to clear land for palm oil, pulp and rubber plantations. More than 320,000 hectares have been burnt in the first eight months of the year, according to the National Disaster Mitigation Agency.Rubber trees are also at risk. Output, already hit by fungal disease, may plunge 20% from 3.67 million tons last year as drought and forest fires disrupt tapping, said Erwin Tunas, executive director of the Rubber Association of Indonesia. The haze blocks sunlight that’s crucial for photosynthesis, the group says.Prolonged DroughtWhile Java, Indonesia’s top rice producer, hasn’t been hit by wildfires, a prolonged drought has parched farmland, damaging more than 250,000 hectares of rice and causing more than 580,000 tons of losses, according to Edy Purnawan, director of crop protection at the Agriculture Ministry.The government is urging farmers to plant seeds suitable for dry land for the small harvest in the fourth quarter, to try to make up the production losses, Purnawan said.While the area affected is small compared with Indonesia’s total rice plantings over about 9 million hectares, a less significant crop failure last year contributed to the government boosting imports to the highest in six years. Ample stockpiles with state-owned Bulog will likely prevent major new imports this time round.To contact the reporters on this story: Yoga Rusmana in Jakarta at firstname.lastname@example.org;Eko Listiyorini in Jakarta at email@example.comTo contact the editors responsible for this story: Anna Kitanaka at firstname.lastname@example.org, James PooleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Amazon.com Inc Chief Executive Officer Jeff Bezos on Thursday pledged to make the largest U.S. e-commerce company net carbon neutral by 2040 and to buy 100,000 electric delivery vans from a start-up, as employees and consumers around the world plan protests to address climate change. Cutting emissions is a challenging goal for Amazon, which delivers 10 billion items a year and has a massive transportation and data center footprint. "We know we can do it and we know we have to do it," Bezos said.
Amazon is ordering 100,000 electric delivery trucks from Michigan-based Rivian, which will manufacture its vehicles at a factory in downstate Normal.
(Bloomberg) -- One of the nation’s largest drug store chains and a shipping service giant are joining forces, with Alphabet Inc.’s Wing to begin a first-of-its-kind drone delivery service in October.Walgreens, FedEx Corp. and Wing, an offshoot of Google that was the first U.S. drone operator to receive partial certification as an airline, will begin the exploratory deliveries in the small town of Christiansburg, Virginia, the companies said in an announcement Thursday.The companies aim to go beyond the small-scale delivery demonstrations that have occurred so far in the U.S., typically under controlled environments conducted over short ranges, they said.“Wing has spent the last seven years developing a delivery drone and navigation system for this purpose,” Chief Executive Officer James Ryan Burgess said in the release. “By delivering small packages directly to homes through the air in minutes, and making a wide range of medicine, food and other products available to customers, we will demonstrate what we expect safer, faster, cleaner local delivery to look like in the future.”Read more: Amazon Poised to Test Chopper-Plane Mashup for Drone DeliveriesThe announcement is a sign of the rapid maturation of the drone industry, as multiple titans of industry race to find their place in what could become a transforming technology. At the same time, the U.S. government hasn’t created a regulatory structure or formal safety standards for small, low-flying drone operations, so such demonstrations continue to be conducted using waivers to existing rules.Wing has conducted demonstrations of how its deliveries would work before, including lowering a Popsicle to a toddler in Virginia last year. But the project with Walgreens and FedEx is designed to send actual merchandise to customers on a far bigger scale.The demonstration project is being conducted near the campus of Virginia Tech in Blacksburg and is associated with the Mid-Atlantic Partnership, one of the groups selected by the U.S. government as testing entities for drone commerce. While there is growing demand for using drones to deliver goods and to perform many industrial functions, the Federal Aviation Administration is still in the process of developing regulations to govern them.Robotic RaceWing is one of the leading companies in the race toward having robotic unmanned craft zip through the sky to people’s homes to drop off goods, and has received waivers to allow longer-range flights.Amazon.com Inc. and United Parcel Service Inc. are also developing their delivery services. A number of smaller companies, including Flirtey Inc. and Zipline International Inc., are either doing demonstration projects or have made deliveries in other countries.The partnership between Wing, Walgreens and FedEx has benefits for all three in the race to exploit the drone economy.Walgreens, a division of Walgreens Boots Alliance Inc., and other large drugstore chains have seen their sales chipped away at by Amazon and other online retailers, as the convenience of a brick-and-mortar pharmacy a short drive away has been supplanted by a package delivered to a customer’s front door. Amazon has also moved into the prescription drug business, offering patients conveniently-packaged pills through its PillPack unit.Drugstores Fight BackIn response, the drugstore chains have begun offering competing services to defend themselves. Walgreens offers a delivery service for prescriptions, and has partnered with FedEx to use its stores as package drop-off points. It’s also partnered with Kroger Co. on a pilot program for customers to pick up groceries at Walgreens stores.The partnership with Wing gives FedEx leverage to compete against UPS, which is using the small flying devices for revenue-generating health-care deliveries, such as blood samples, within a hospital campus in North Carolina.UPS is also seeking FAA authorization to operate like a small airline and expects to get that designation soon. UPS Chief Executive Officer David Abney has said the focus of drone deliveries would be the health-care industry at first, and then expand from there.(Updates with other companies in ninth paragraph.)\--With assistance from Drew Armstrong.To contact the reporters on this story: Alan Levin in Washington at email@example.com;Thomas Black in Dallas at firstname.lastname@example.orgTo contact the editors responsible for this story: Jon Morgan at email@example.com, Elizabeth Wasserman, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Today, Jeff Bezos detailed Amazon's plans for sweeping sustainability initiatives. Bezos's announcement came a day before the Global Climate Strike.
The Fed cuts interest rates again, but what's next? Why Microsoft (MSFT) stock surged. The latest from AT&T (T) and FedEx (FDX). And why Skechers (SKX) stock is a Zacks Rank 1 (Strong Buy) right now - Free Lunch
(Bloomberg) -- Payments platform Stripe Inc. became one of the most highly valued startups in the world on Thursday, after it announced a new funding round at a $35 billion valuation. In the U.S., only vaping giant Juul Labs Inc. and the troubled We Co. are more valuable.Stripe raised $250 million in funding in the new round, which the company said will be used to continue to expand around the world and launch new products. In September alone, it launched a new lending product as well as a corporate credit card. General Catalyst, Sequoia Capital and Andreessen Horowitz are among the participating investors in the round. Stripe’s previous valuation was $23 billion. “Our investors sense that we are still in the early stages of our opportunity,” said John Collison, Stripe’s co-founder and president. “We’re now processing hundreds of billions of dollars a year.” The San Francisco-based company counts both startups and tech giants among the customers for its core payments processing services, with Uber Technologies Inc. and Amazon.com Inc. using it for some transactions. Stripe has also continued to add more products, including fraud protection, billing and credit card services. It makes money by taking a portion of each transaction. Stripe was founded in 2010 by John and Patrick Collison, 29 and 31, who immigrated to Silicon Valley to pursue careers in technology after growing up in Ireland. The company’s latest round dramatically increased Stripe’s value to $35 billion, not counting the more than $1 billion investors have poured into the company. Its valuation jump comes as some of the highest profile tech startups have struggled in the public markets. Uber and Lyft Inc., which both listed shares publicly this year, are trading below their IPO price, and the We Co. delayed its public offering. Recently, WeWork’s market value has been called into question by investors. John Collison said that the company was not planning an IPO in the near future. “We’re very happy as an independent company,” he said. “We’re very fortunate to have investors that bring a pretty long-term mindset to this.” Stripe’s fundraising was earlier reported by the Wall Street Journal. (Adds comments starting in the third paragraph.)To contact the author of this story: Julie Verhage in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Anne VanderMey at email@example.com, Mark MilianFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The code name is Project Nighthawk and it would go on airport land in the same general vicinity of a huge $200 million Amazon distribution facility that goes online this holiday season, says Stuart Hair, director of economic & community affairs at the airport.