|Bid||42.96 x 800|
|Ask||43.14 x 1000|
|Day's Range||42.59 - 43.90|
|52 Week Range||13.58 - 45.88|
|PE Ratio (TTM)||56.15|
|Earnings Date||Aug 1, 2018 - Aug 6, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||41.40|
Capitalist Pig Hedge Fund Manager Jonathan Hoenig and FBN's Charles Payne on the impact of the Supreme Court ruling that states can collect sales tax on out-of-state online purchases.
Monday, June 18: China retaliates against Trump’s tariffs; Google invests $550 million in Chinese e-commerce giant JD.com, Etsy jacks up seller fees, stock soars. Yahoo Finance’s Dan Roberts kicks off your week in business news.
If states act aggressively, consumers may also be paying moreWarner Bros/courtesy Everett Collection / Everett CollectionSmall online businesses are waiting to see what the Supreme Court’s ruling on online sales tax means for them. Small online businesses may bear the brunt of the Supreme Court’s recent decision to allow states to collect sales tax from online retailers, but how bad it’ll be, they don’t yet know. The high court ruling released Thursday gives states the right to collect sales tax from online vendors, even if they don’t have a physical presence in that state, overturning a pre-internet court ruling called Quill that exempted online merchants from those collection duties.
Some people were sweating the Supreme Court decision on whether and how Amazon.com, Inc. (NASDAQ:AMZN) should collect sales tax, but the decision won’t hurt Amazon stock in the long run. The red-hot digital retail sector got slammed after the Supreme Court overturned a 1992 interstate commerce precedent and ruled, 5-4, that states have the legal right to collect sales taxes from digital retailers, regardless of whether or not the retailer has a physical presence in their state. Previously, digital retailers weren’t legally required to collect sales taxes in states in which they didn’t have a physical presence.
A U.S. Supreme Court ruling on Thursday paves the way for states to ask online retailers to collect internet sales tax, a move praised by brick-and-mortar retailers as leveling the playing field between online and physical merchants. Brick-and-mortar retailers that have seen their businesses upended, and sometimes literally destroyed, by the rise of e-commerce finally had a moment of vindication on Thursday: The U.S. Supreme Court, in a landmark 5-4 ruling, basically gave states the green light to have online retailers collect sales tax, just like any local retailer. The highest U.S. court made the decision after South Dakota in 2016 filed a lawsuit against major pure-play online retailers Wayfair, Overstock.com and Newegg regarding state tax collection.
States may force online retailers to collect potentially billions of dollars in sales taxes, the U.S. Supreme Court said in a major ruling on Thursday that undercut an advantage many e-commerce companies have enjoyed over brick-and-mortar rivals. In a 5-4 ruling reviving a South Dakota law challenged by Wayfair Inc(W.N), Overstock.com Inc(OSTK.O) and Newegg Inc, the justices overturned a 1992 high court precedent that had barred states from requiring businesses with no "physical presence" there, like out-of-state online retailers, to collect sales taxes.
The latest meeting of oil cartel OPEC will be a highlight for markets on Friday while the U.S. earnings and economics calendar should be fairly benign.
The Supreme Court on Thursday overturned a longstanding precedent that states can only require retailers to collect sales tax when they have a physical presence there. “Trying to follow all the thousands of laws of tax jurisdictions across the country would put us out of business.
Shares of online retailers like Amazon fell in trading after the Supreme Court ruled states have the right to collect potentially billions of dollars in taxes from internet sales. The decision overturns a ruling from 1992, which limited tax collection by retailers for online sales, regardless of whether or not a business maintains a physical presence in a state. "Retailers have been waiting for this day for more than two decades," the National Retail Federation says.
A year ago, Etsy Inc. was in trouble. Activist investors were clamoring for change, and in May 2017 they got it: The board fired longtime Chief Executive Officer Chad Dickerson and replaced him with Josh Silverman, a former EBay Inc. and American Express Co. executive. Silverman, 49, is worlds away from Etsy co-founder Rob Kalin, who started the marketplace as a kinder, more equitable way for artisans to sell their work online.
Etsy has crafted quite the comeback. Just 13 months ago, the online marketplace for quirky, handmade goods was in turmoil. With Amazon gearing up to launch its own rival website for everything from homecrafted unicorn horns to crochet art, the end appeared to be nigh.
The arts and crafts marketplace operator has more than tripled over the past year, and things should get even better after a transaction fee hike.
Some DIY crafters shut down their online stores after Etsy announced it would increase the fees that sellers payBen King / Broad Green Pictures / Everett CollectionIt will cost DIY crafters a bit more to sell their wares on the online marketplace Etsy. Since 2017, Christine Fox has been building a following on the online craft marketplace Etsy. The company is increasing the fees that sellers must pay on purchases from 3.5% to 5%.
What a run it has been for Etsy Inc (NASDAQ:ETSY). Etsy stock now has tripled over the past year, with a 208% gain the 19th best among the nearly 1,900 stocks with a market capitalization over $2 billion. Last week ETSY rose 27% after announcing that it was raising fees on its platforms, while also rolling out new services for its sellers.
The Nasdaq rose to a new high while the Dow retreated amid Trump trade moves. A federal judge OK'd the AT&T-Time Warner deal while the Fed sees more rate hikes. RH and Etsy soared.
Etsy, Inc. ( ETSY) investors aren't the only ones benefiting from the e-commerce website's plan to increase seller fees and spend more money boosting the business – so is Vanguard, one of the world's largest fund companies. As of the end of May, Barron's reported that Vanguard is now Etsy's largest shareholder, recently raising its stake in the online crafts marketplace operator to 10.1%. Under U.S. Securities and Exchange Commission rules, once investors cross the 10% ownership threshold, they have to disclose the stake in a regulatory filing.