|Bid||1,785.05 x 1100|
|Ask||1,783.00 x 1100|
|Day's Range||1,781.00 - 1,830.63|
|52 Week Range||1,307.00 - 2,035.80|
|Beta (3Y Monthly)||1.62|
|PE Ratio (TTM)||74.43|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2,303.14|
Marc Randolph - Netflix's co-founder and first CEO - details a fateful meeting with Amazon's Jeff Bezos in 1998 that almost changed the course of technology and media.
The 10-year bull market in stocks and longest economic expansion in U.S. history have minted many a millionaire since the darkest days of the Great Recession.A decade ago, less than 1 in 20, or 4.9%, of all U.S. households were considered to be millionaires, according to Phoenix Marketing International, which tracks the affluent market. That means they held at least $1 million in investable assets, such as cash, stocks, bonds and funds, among other types of investments. Real estate such as the family home, employer-sponsored retirement plans and business partnerships don't count.Cut to today, and 6.2% of all U.S. households are millionaires. In raw numbers, the nation's ranks of millionaires grew by more than 2 million over the past 10 years.Naturally, the gains haven't been distributed evenly. Although every state and the District of Columbia has more millionaire households today than it did in 2008, some areas of the country are gaining millionaires as a percentage of total households at a much faster clip than others.Kiplinger.com annually ranks all 50 states plus Washington, D.C., by their respective concentrations of millionaires. In the most recent tally, New Jersey leapfrogged long-time leader Maryland for the top spot. Nearly 9% of New Jersey households are millionaires vs. 8.9% for Maryland, which led the country in millionaires as a percentage of households from 2011 through 2017 before slipping to fourth place.That got us thinking: How have state millionaire concentrations shifted since the financial crisis? Here, we look at the five best states that have risen through the millionaire rankings since the Great Recession ... and the five that have experienced the biggest dropoffs. SEE ALSO: 25 Small Towns With Big Millionaire Populations
Jeff Bezos has just placed the largest ever electric vehicle purchase order with a statup called Rivian Automotive, a company looking to rival Tesla
The Crystal City Business Improvement District won approval Saturday by the Arlington County Board to expand its borders into Pentagon City and Potomac Yard, the expanse that's become part of the newly dubbed National Landing and home to Amazon.com Inc.'s (NASDAQ: AMZN) HQ2 and its resulting development. The BID, which has been undertaking this effort since May and negotiating with business and property owners in the new neighborhoods, will now grow its footprint by 76%, encompassing a majority of Pentagon City to the west and all of the Arlington portion of Potomac Yard to the south. It also allows the organization, led by President and Executive Director Tracy Sayegh Gabriel, to help devise a broader strategy around property improvements and economic development in what will be HQ2's new hometown.
Amazon’s automated convenience store became a meeting point—physically and philosophically—for climate and labor protesters on Friday.
The U.S. is pressing for changes to the Universal Postal Union. It’s, er, part and parcel of the Trump administration’s push to level the playing field for trade with China.
Apple is fighting at a buy point, but Facebook, Amazon, Netflix and Google have been MIA in the current stock market rally.
Amazon Web Services upped its education ante Friday with a cloud curriculum for select Virginia schools and colleges.
Hundreds of workers from Google, Amazon and other technology companies on Friday joined climate-change marches in San Francisco and Seattle, saying their employers had been too slow to tackle global warming and needed to take more drastic action. While students set the global agenda and led local marches, U.S. West Coast tech workers said they turned out in support and called on makers of software and hardware as well as providers of services such as cloud data storage to do more. The marches cap a week in which Alphabet Inc's Google said it had increased its wind and solar energy deals by more than 40%, and Amazon.com Inc pledged to use only renewable energy by 2030.
Nike (NKE) is set to report its first-quarter fiscal 2020 financial results after the closing bell on Tuesday, September 24. So let's see what investors should expect from the sportswear powerhouse...
(Bloomberg) -- Tens of thousands of people around the world demonstrated to demand action on climate change as a global movement backed by 16-year-old environmental activist Greta Thunberg got under way Friday.Students skipped school and workers walked off jobs to participate in the rallies. In a central Sydney park, protesters held up homemade signs with slogans such as “You’re Burning our Future” and “There Is No Planet B.” In Berlin, demonstrators gathered by the landmark Brandenburg Gate, just a few steps from where Chancellor Angela Merkel’s government hammered out a 54 billion-euro ($60 billion) climate-protection package.Thousands gathered in New York, Toronto, Johannesburg, Warsaw and many more cities around the globe -- eager to add their voices to a movement fueled by youthful angst about rising temperatures.“This is about the future of our planet,” said Laura Lazzarin, an Italian national living in Berlin who joined demonstrators near the Brandenburg Gate. “We can’t go on like this, and politicians must realize that.”GlobalClimateStrike in London are urging political leaders to take action on the climate crisis CoveringClimateNow pic.twitter.com/2uCxa7jBLp— Bloomberg TicToc (@tictoc) September 20, 2019 Protesters joining the Global Climate Strike movement want governments to treat global warming as an emergency, slash subsidies for fossil fuels, and switch economies to 100% renewable energy as soon as possible. They’re part of a worldwide series of demonstrations that organizers say will take place in 150 countries on Friday and on Sept. 27.“As we deal with devastating climate breakdown and hurtle towards dangerous tipping points, young people are calling on millions of us across the planet to disrupt business as usual by joining the global climate strikes,” according to a statement on the organizers’ website.The movement has taken hold in Europe, where climate has been catapulted to the top of the political agenda. The European Union should walk away from fossil fuels, the bloc’s energy chief told Bloomberg TV this week after a record spike in oil prices. A total of 93% of Europeans see global warming as a serious problem, according to a recent survey by the European Commission.In front of the Brandenburg Gate, three protesters dressed in black stood on top of melting ice blocks with nooses around their necks as hundreds of people gathered around them, carrying home-made placards, blowing whistles and chanting “We are here, we are loud, because you’re stealing our future.”In Paris demonstrators -- a large number of whom were students -- marched from Place de la Nation, carrying placards with slogans like “our house is on fire” and “time to act.”In Poland, home to 33 of the EU’s 50 most polluted cities, more than 60 climate protests were held Friday. At the biggest gathering in Warsaw, more than a thousand demonstrators called for the government to curb its dependence on coal, which is burned to produce more than 80% of the country’s electricity.PrayforAmazon. We should stop buying the beef that's being imported from Brazil to Hong Kong."Climate activists gathered in Hong Kong, demanding world leaders to address global warming ClimateStrike GlobalClimateStrike pic.twitter.com/xfA2Gk0llB— Bloomberg TicToc (@tictoc) September 20, 2019 “The government is doing too little and this needs to be changed,” said Dionizy Debski, a high school student from Warsaw.Click here for TicToc’s ongoing coverage of the global climate protestsThe movement -- inspired by the braided Swedish teenager Thunberg who started weekly school walkouts last year -- has gone global, drawing parallels with other protests like the Civil Rights struggle and anti-apartheid demonstrations.Friday’s protests come ahead of United Nations events, including the first Youth Climate Summit on Saturday and the Climate Action Summit of government, corporate and other leaders on Sept. 23 in New York. Thunberg, who founded the “Fridays for Future” protest group, captured media attention by sailing across the Atlantic to address the youth event, rather than traveling by plane -- doing her bit to cap emissions.The climate campaign has spurred some companies into action. Germany’s Volkswagen AG, the world’s biggest automaker, pledged to make more electric cars and become climate-neutral by 2050.Amazon.com Inc. Chief Executive Officer Jeff Bezos vowed Thursday to wean his company off fossil fuels by 2030. He also announced the formation of a new organization -- the Climate Pledge -- amid a steady drumbeat of criticism from activists and his own employees over Amazon’s dependence on fossil fuels.GlobalClimateStrike rally.Protesters are urging leaders to address global warming and put an end to the age of fossil fuels CoveringClimateNow pic.twitter.com/jGfAI7Bnse— Bloomberg TicToc (@tictoc) September 20, 2019 Despite that pledge, Amazon employees around the world walked off the job on Friday, in offices from Poland to South Africa and Ireland.In Seattle, hundreds of workers, joined by colleagues from Google and other tech companies, rallied in front of the biospheres at the heart of Amazon’s headquarters.Weston Fribley, an employee and organizer of Amazon Employees for Climate Justice, said Bezos’s pledge was “just the beginning.” The plans, he said, “must be implemented.” He also repeated the group’s call for Amazon to end its sales to fossil fuel companies.On Thursday, Alphabet Inc. Chief Executive Officer Sundar Pichai made his own announcement, saying Google had agreed to buy 1.6 gigawatts of wind and solar power, describing it as a record purchase of renewable energy by a single company.Google Makes Biggest Clean Energy Purchase Ever by a CompanyIn Australia, the campaign has the backing of high-profile business leaders such as the billionaire co-founder of enterprise software company Atlassian Corp., Mike Cannon-Brookes. Atlassian was among hundreds of Australian employers, including law firm Slater & Gordon Ltd. and real-estate portal Domain Holdings Australia Ltd., that allowed workers to take time off to attend the rallies.The call to action has resonated across Europe, which has suffered from increasing bouts of drought and wildfires, and in Australia -- the world’s driest inhabited continent that derives the bulk of its energy from burning coal.For all the support the campaign is deriving, however, there are pockets of opposition. In Germany, the far-right AfD party slammed the government’s climate measures, citing escalating costs. Merkel’s government is “mercilessly squeezing its citizens for an ideology,” its co-leader Alice Weidel said in a Twitter post.(Updates with Amazon workers protest.)\--With assistance from Maciej Martewicz, Helene Fouquet and Matt Day.To contact the reporters on this story: Bruce Einhorn in Hong Kong at firstname.lastname@example.org;Thuy Ong in Sydney at email@example.com;Stefan Nicola in Berlin at firstname.lastname@example.orgTo contact the editors responsible for this story: Chad Thomas at email@example.com, Vidya Root, Eric PfannerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
To help aid its investigation into Big Tech, investigators from the House Judiciary Committee last week wrote to Alphabet's (GOOGL) Google, Apple (AAPL) and Amazon (AMZN), requesting documents which they believe will help provide information on whether these companies have broken any laws. Primarily, the committee is looking into whether Big Tech practices are harming customers or violating antitrust law, but are not necessarily looking into privacy (as other bodies are).When it comes to Google, the House is looking into a wide-range of antitrust concerns, including 25 businesses within the company. While the scope is large, Evercore's Kevin Rippey is not too concerned as “only four of these areas of concern relate to the core search business,” which represents about 75% of the enterprise value.As a result, Rippey maintains an Outperform rating on GOOGL stock, with a $1,350 price target, which implies about 10% upside from current levels. (To watch Rippey's track record, click here)"So long as the House’s efforts are focused on businesses other than Search, the magnitude of material financial risk may prove less than feared," Rippey opined. "The Committee seems more focused on the company’s ad tech complex...as well as the sharing of data between the Chrome, Android, Cloud, and advertising business lines.” Chrome will be a priority for the Committee, as it mentioned the browser four times in letter to the company. Besides Chrome, Rippey believes “Android and the app store remain areas of vulnerability.” Given the app store’s "monopoly control over app distribution,” Rippey thinks that app stores “are a key area of vulnerability under existing anti-trust law.” For better or worse, this is not Google’s first time in an antitrust investigation. Last year, the company was fined $5 billion by the European Commission for Android-related antitrust violations. And with Big Tech is routinely and increasing receiving negative attention from presidential candidates in the Democratic party, this investigation is surely not the end of regulators’ focus on the tech giant. But like other tech companies, Alphabet stock continues to be one of Wall Street's favorites. TipRanks analysis of 33 analysts ratings on the stock shows a consensus Strong Buy, with 29 analysts rating the stock a Buy and four who giving it a Hold. The average price target among these analysts stand at $1,404.22, representing a 14% upside from current levels. (See GOOGL's price targets and analyst ratings on TipRanks)
We searched for strong tech companies that also pay a dividend, utilizing our Zacks Stock Screener. These three tech stocks should remain attractive to investors even during a potential market downturn...
It was a quadruple witching day on Wall Street, leading to extra volatility on Friday. Some late-session trade headlines didn't help matters. Let's look at a few top stock trades in deep detail. Top Stock Trades for Tomorrow 1: ROKUWe covered Roku (NASDAQ:ROKU) earlier this week, but given the drumming that it took Friday -- down more than 20% at one point -- I thought it was worth looking at again. InvestorPlace - Stock Market News, Stock Advice & Trading TipsShares bounced on Thursday following a test of the 50-day moving average. However, they began Friday under pressure after Pivotal Research initiated the stock with a sell rating and $60 price target. * 8 Dividend Stocks to Buy for a Recession Where are we now? The 100-day is at $109.70, while the gap-fill from the post-earnings surge is down at $100.97. Near there is the 50% retracement for the one-year range at $101.43. In between the downside levels (the gap fill and the 50% retracement), and the upside (the 100-day moving average), is Roku stock price. When shares were trading at $105.93 -- which they were at one point on Friday -- it was down 40% from its highs. From its peak, Roku stock fell about 60% in Q4. So this name has a tendency to shed some weight, but it has given investors an opportunity to get long too. A few lucky ones did. With 45 minutes to go in the session, Roku stock already surpassed 57 million shares traded. It feels greedy, but I would love to see Roku fill its gap back down to ~$101. A lower open on Monday that reclaims Friday's close would be the reversal that short-term traders need to get long this one again. Over the 100-day moving average could get a squeeze going up to the 38.2% near $119 and possibly the 50-day near $128. If the gap-fill level and the 50% retracement doesn't hold, the August lows near $96 are on the table. A flush lower from there would be possible if buyers don't step up and defend Roku. Top Stock Trades for Tomorrow 2: AmazonWith the stock market near its all-time highs and with several mega-cap tech companies back in favor -- like Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) -- it's interesting to see Amazon (NASDAQ:AMZN) act as a laggard. Shares are down almost 12% off the July highs, when it looked like Amazon stock was going to breakout. The stock has spent 2019 putting in a series of higher lows (blue line), although AMZN is threatening to break that trend should it continue much lower. Adding more weight to the current price action, the 200-day moving average is about $20 per share below current levels. Should AMZN lose uptrend support and the 200-day moving average, range support at $1,750 will almost instantly be on the table. Further, the 61.8% retracement is in this area too, at $1,757. If this area fails, then the June lows near $1,672 will be in the cards as Amazon stumbles into no man's land. On the upside, look to see how the stock does with the $1,850 area. There it has range resistance and the 50-day moving average. At $1,879 is the 78.6% retracement. Over this area puts $2,000+ back on the table. That's a lot of detail to absorb. So try to keep it simple. Below the 200-day moving average, and range support at $1,750 is on the table. Below that mark is bearish. If the 200-day holds, $1,850 resistance is on the table. Above that is bullish and over $1,880 puts $2,000+ in the realm of possibilities.In between is chop. Top Stock Trades for Tomorrow 3: S&P 500 (SPY)Many equity traders prefer to use the SPDR S&P 500 ETF (NYSEARCA:SPY) instead of the S&P 500. So let's take a closer look at the SPY. Interestingly, the SPY made a new 52-week high this week, while the S&P 500 did not. And while it hovers just below all-time high resistance between $300 and $301, investors having to digest a Fed day. That's shown on the charts via a blue box. I tweeted earlier on Friday that, once the SPY went below the Fed-day highs, it put the Fed-day lows on the table. So long as we remain beneath that mark, those lows remain on the table. Below the lows could create selling pressure. In short, above the box is good, below the box is bad. Should the SPY reclaim the Fed-day highs and push over $300, then the recent highs at $301.24 are on the table and above that is blue sky. If the SPY takes out the Fed-day lows, we'll have to consider downside levels. The first downside mark is the 20-day moving average currently near $296 and below that is the 50-day at $239.65. Should the SPY fall below those levels, prior range resistance from August will be a key level to watch, between $292.50 and $293. Below that mark and we could really get some downside follow through. * 7 Triple-'F' Rated Stocks to Leave on the Shelf So again, to keep it simple: Over the Fed-day highs and upside can continue. Below the Fed-day lows and we have to be on guard. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AAPL, AMZN and ROKU. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Triple-'F' Rated Stocks to Leave on the Shelf * 10 Excellent Stocks to Watch for 2020 and Beyond * 7 Consumer Stocks to Buy in an Uncertain Market The post 3 Top Stock Trades for Monday: ROKU, AMZN, S&P 500 appeared first on InvestorPlace.
Some prominent market personalities, such as Leon Cooperman, chair and CEO of Omega Advisors, feel that the Fed's rate cut decision was unnecessary.
(Bloomberg) -- Ever since Amazon.com Inc. bought Whole Foods in 2017 for $13.7 billion, shoppers and investors alike have wondered how the e-commerce giant would integrate the upscale grocer into its sprawling online operation. Now, after two years of tinkering, Amazon is betting big on quick delivery from Whole Foods.In August, the company began a pilot project in select cities including Denver and Portland, Oregon. Mining the purchase histories of Whole Foods shoppers who use their Prime memberships for discounts, Amazon zeroed in on items they buy routinely in physical stores. Then, the company began suggesting the same products on its main website with an enticement: free two-hour delivery. Previously, Prime subscribers looking for speedy grocery delivery needed to download a separate Prime Now app, which limited use of the service. Amazon is betting that offering the service on the main site will pull in more shoppers. The Prime Now app had only 1.8 million monthly average users in August, according to monitoring firm App Annie. Amazon’s website draws more than 200 million unique monthly visitors while its primary shopping app attracts 125 million users on average each month.As it has done before, Amazon wants to change shopping habits—in this case getting consumers more comfortable buying perishable products like bananas and yogurt online. That’s crucial if Amazon is to take on Walmart Inc. in the $840 billion U.S. grocery market.Encouraged by what it calls “very positive” customer feedback, the company has quickly extended the service to almost 30 cities, including Los Angeles, Houston and Detroit. “Most grocery customers buy the same things over and over again,” an Amazon spokeswoman said in an e-mail after Bloomberg asked about the program. “The past purchases feature enables customers to quickly add favorite products to their cart.”The industry is grappling with how best to mesh physical and online grocery stores, a topic that drew 3,000 executives to the GroceryShop conference in Las Vegas in mid-September for panels on delivery, the future of stores and consumer behavior.Despite trying upend the grocery market for more than a decade, Amazon remains a tiny player. Walmart and its Sam’s Club capture 25% of all grocery spending in the U.S., according to Morgan Stanley, compared with 2% for Amazon and Whole Foods. Walmart has more than 4,500 U.S. stores, about 10 times the number of Whole Foods locations.Meanwhile, competition is intensifying. Walmart and Target Corp. are both investing in delivery options as well as in-store pickup of online orders, all geared toward time-strapped customers looking to simplify their errands. Walmart this month announced it was expanding its $98 annual grocery delivery service to 1,400 cities, undercutting Amazon Prime's $119 annual fee.Persuading shoppers to buy fresh food online isn’t Amazon’s sole challenge. Getting groceries to customers quickly is another. Offering two-hour delivery requires Amazon to show shoppers only products that are close to them, which isn’t easy because the 25-year-old website was designed to let anyone with an internet connection buy a product anywhere in the world. For that reason, Amazon launched its two-hour delivery service Prime Now in 2015 as a separate app detached from the main website, according to a personal familiar with the matter. That enabled Amazon to get the service up and running more quickly but limited participation because users had to download a new app. Moreover, Prime Now has offered a narrow selection of convenience store-style staples. The expanded service could help solve those challenges. Shoppers in cities where the option is available see a Whole Foods storefront on Amazon’s website. The storefront offers visitors discounts to entice them to try fast delivery of perishables and shows them previous purchases they made in stores. An optional filter lets them limit their search to what’s on the shelf in nearby Whole Foods locations in case they’d rather pick up the order themselves. “Amazon has been critiqued for not making full use of the Whole Foods acquisition, and this is about to change that,” says Juozas Kaziukenas, founder of New York e-commerce research firm Marketplace Pulse. “Having local stores act as two-hour delivery hubs is exactly why Amazon acquired the company.”(Updates with Prime Now app data. )\--With assistance from Matthew Boyle.To contact the author of this story: Spencer Soper in Seattle at firstname.lastname@example.orgTo contact the editor responsible for this story: Robin Ajello at email@example.com, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
California Governor Gavin Newsom signed the bill, known as AB5, on Wednesday. It goes into effect on Jan. 1 and could roil the gig economy if companies are forced to replace independent contractors with employees who earn at least the state minimum wage of $12 per hour and are eligible for expense reimbursement and benefits such as health insurance and paid time off. Research firm Second Measure says Postmates, DoorDash and UberEats reap the greatest percentage of U.S. sales from California - estimated at 41.3%, 24.3% and 23.9%, respectively.