|Bid||3,041.00 x 1400|
|Ask||3,042.49 x 1000|
|Day's Range||3,019.81 - 3,045.79|
|52 Week Range||1,626.03 - 3,069.55|
|Beta (5Y Monthly)||1.32|
|PE Ratio (TTM)||145.09|
|Earnings Date||Jul. 23, 2020 - Jul. 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2,826.39|
In a bull case, Tesla shares could surge as high as $2070, says Morgan Stanley’s Adam Jonas — though his official call is still bearish with a target of $740.
The cloud-based identity specialist Okta (NASDAQ: OKTA) is poised to profit from the secular shift to cloud computing. But with its stock price close to its all-time highs after having more than doubled from its March lows, is it still a good time for investors to get involved? Gaining market share in the growing identity and access management market Enterprises have been moving applications and infrastructures to the cloud over the last several years to profit from increased flexibility.
(Bloomberg Opinion) -- Fast-fashion trailblazer Boohoo Group Plc is being forced to slow down.Retailers including Amazon.com Plc, Next Plc and Asos Plc are dropping Boohoo products after a Sunday Times article alleged unfair working conditions in its U.K. manufacturing chain in Leicester, England. The company came under criticism from social influencers including former reality TV star Vas J Morgan and model Jayde Pierce. Boycottboohoo has been trending on Twitter.After losing 2 billion pounds ($2.5 billion) in market value this week, Boohoo said on Wednesday it’s launching an independent review of its supply chain led by Alison Levitt, a lawyer and former public prosecutor. It also cut ties with two suppliers that infringed on its code of conduct, but said there were inaccuracies in the newspaper report.Even though the investigation will not be completed for some time, the fast-growing company, founded in 2006 to make cheap, catwalk-inspired fashions for young shoppers, is right to take action. Boohoo will bolster its board by appointing two more independent non-executive directors with backgrounds in environmental, social and governance issues. It is essential that it makes quality hires. But it should go further. Co-founder Mahmud Kamani remains executive chairman. If the company is serious about putting itself on a surer footing, it should appoint a strong, independent chairman.One option would be to elevate Brian Small, the former finance director of JD Sports Fashion Plc, who is currently Boohoo’s deputy chairman and senior independent director. Part of Boohoo’s problem is that it has been growing at breakneck speed and hoovering up rival high-street brands. As sales fly, suppliers struggle to keep up, and so they subcontract to other companies, further removed from the retailer. This is what appears to have happened in this case highlighted by the Sunday Times, according to Boohoo’s investigations into the report. Boohoo is now taking steps to crack down on this practice, refusing to place orders with big suppliers unless they disclose subcontractors and allow them to be audited. Boohoo’s new chief executive officer, John Lyttle, has experience tackling this kind of situation. He was formerly chief operating officer at Associated British Foods Plc’s Primark, which has dealt with its own supply chain issues in the past. Even so, there will be costs associated with scrutinizing and overhauling the manufacturing base, and they may ultimately have to be passed onto Boohoo’s customers.The company will invest 10 million pounds to eradicate supply chain malpractice. But it’s not clear what will be found in the independent review. If there are shortcomings, they must be dealt with, at the requisite cost. Boohoo, whose cheap, dressy clothes are often discarded once they’ve appeared in enough selfies, is particularly vulnerable to environmental, and now social, criticism. Sports Direct saw its sales slow after allegations in 2015 about poor conditions in its distribution center in Shirebrook, Derbyshire. Although Boohoo no longer supplies Amazon directly, the U.S. online retailer still holds stock from Boohoo and its associated brands from previous agreements. It will be suspending these products as well as any offered by third-party sellers while Boohoo conducts its investigation.While many young people say they are concerned about the environment and working conditions, it’s not clear how many Boohoo customers will care enough to stop buying its puff-sleeve blouses and very short denim shorts. They may care more about increases in price however, particularly if they have been furloughed because of the coronavirus lockdown or risk losing their jobs altogether in the health crisis’s aftermath.So Boohoo has many challenges ahead. It will have to balance a potentially higher cost base with its low prices, while working to integrate recent acquisitions and manage a growth rate that is still likely to be superior to rivals.That is even more reason why a strong independent chairman must be recruited without delay.(Updates to explain Amazon’s relationship with Boohoo in 11th paragraph.)This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.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.com (NASDAQ: AMZN) is finally bringing the account-profile feature for its Prime Video service to the U.S. The feature is a standard on Netflix (NASDAQ: NFLX) and Disney's (NYSE: DIS) new Disney+ service. Amazon began rolling out the account enhancement earlier this year in India and some countries in Africa and Asia, but it was launching the feature in phases to the rest of the world.
Three technology stocks I think will do well now and on into the future are Zynga (NASDAQ: ZNGA), American Software (NASDAQ: AMSWA), and Limelight Networks (NASDAQ: LLNW). Mobile gaming creator Zynga is a company I have followed for years but never quite gotten around to purchasing. Back in early April, I called the small company responsible for popular titles like Words With Friends, FarmVille, Zynga Poker, and CSR Racing a buy, but amid the market meltdown other stocks ultimately won out for my investment funds.
The House Judiciary antitrust subcommittee is very interested in what the quartet has to say about market dominance and competition.
The robust streaming platform is out of place, neither being a complete cable package nor a low-cost a la carte option.
The Zacks Analyst Blog Highlights: Microsoft, Apple, Amazon and Alphabet
Home Depot (NYSE: HD) proved to be resilient during the pandemic. Importantly, in the post-pandemic long run, Home Depot can stave off Amazon from encroaching on its business. The initiative aims to make it easier for customers to order online and pick up in-store, for example, which is a more profitable transaction for Home Depot compared to shipping.
Thor Industries, YELP, Walmart, Amazon and Levi Strauss highlighted as Zacks Bull and Bear of the Day
E-commerce companies in India like Amazon.com's local unit and Walmart's Flipkart have begun to update their back-end systems to allow sellers to identify the country of origin on all new product listings on their platforms, two sources aware of the matter said on Wednesday. The Indian trade ministry's Department for Promotion of Industry and Internal Trade (DPIIT), which hosted an online meeting of e-commerce players on Wednesday, wanted the changes to be implemented by the end of July. The changes would first be made for new product listings as it was difficult to do this for the tens of millions of products already selling on their platforms, they added.
Amazon (NASDAQ: AMZN) Prime, the online retailer's subscription service that offers unlimited fast shipping and a slew of other perks, is wildly popular. The company had over 150 million Prime members globally at the beginning of this year, and it's likely that the pandemic has led even more consumers to turn to Amazon. Back in February, Recode reported that Walmart was working on a membership service called Walmart+ that was aimed at combatting Amazon Prime.
For a five-week period in the first quarter, downside momentum in the stock market tied to the coronavirus disease 2019 (COVID-19) pandemic was unlike anything we'd ever seen before. It's also taught investors that you don't need to be rich to become rich in the stock market.
Amazon.com Inc <AMZN.O> has invested 23.10 billion rupees (£245.26 million) in Amazon Seller Services, an Indian unit, strengthening the business at a time when more people shop online in a bid to avoid crowded public places. Amazon Singapore made a significant portion of financing, data from business intelligence firm Tofler showed. The company, which competes with Walmart Inc's <WMT.N> Flipkart in India, has also been expanding its seller network in the country.
Amazon.com Inc has invested 23.10 billion rupees ($308.02 million) in Amazon Seller Services, an Indian unit, strengthening the business at a time when more people shop online in a bid to avoid crowded public places. Amazon Singapore made a significant portion of financing, data from business intelligence firm Tofler showed. The company, which competes with Walmart Inc's Flipkart in India, has also been expanding its seller network in the country.
(Bloomberg) -- Digital advertising platforms run by Google, Amazon.com Inc. and other tech companies will funnel at least $25 million to websites spreading misinformation about Covid-19 this year, according to a study released Wednesday.Google’s platforms will provide $19 million, or $3 out of every $4 that the misinformation sites get in ad revenue. OpenX, a smaller digital ad distributor, handles about 10% of the money, while Amazon’s technology delivers roughly $1.7 million, or 7%, of the digital marketing spending these sites will receive, according to a research group called the Global Disinformation Index.GDI made the estimates in a study that analyzed ads running between January and June on 480 English language websites identified as publishers of virus misinformation. Some of the ads were for brands including cosmetics giant L’Oreal SA, furniture website Wayfair Inc. and imaging technology company Canon Inc. The data exclude social-media and online-video services, so the true total is likely much higher.Governments and health officials are still learning more about the virus, and this has allowed misinformation to flourish online. Silicon Valley giants have pledged to crack down, and Alphabet Inc.’s Google has removed ads from sites that violate its policies. However, GDI thinks these platforms need to do more to limit the spread of misinformation.“The difference between what the companies say publicly about their dedication to not monetizing hate speech and harmful content, especially around the pandemic, is not matching up with what our data is telling us that’s actually happening,” said Danny Rogers, co-founder of the Global Disinformation Index.In an ad delivered on May 19 by Amazon, a L’Oreal product was promoted on Americanthinker.com next to an article titled “Is Big Pharma Suppressing Hydroxychloroquine?” Earlier this month, Google served up a Bloomberg News ad on the website Bigleaguepolitics.com, according to the GDI report. The Global Disinformation Index is a U.K.-based research group that provides disinformation risk ratings on media sites all over the world. GDI said it presented Google, Amazon and OpenX with the latest findings from its report and none of the tech companies provided a formal response. The group updates its research weekly and often tells tech companies when their platforms place ads on misinformation sites.The research group releases this information, in part, as a way to alert advertisers when their marketing spots show up on this kind of website. These brands can help by pulling ads from tech platforms when they see issues like this, Rogers said.For 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.
What happened Shares of Walmart (NYSE: WMT) climbed 6.8% on Tuesday after news broke that the retail titan is gearing up to take on Prime from Amazon.com (NASDAQ: AMZN). So what Walmart will launch a new subscription service later in July, according to tech site Recode.
Amazon (AMZN) closed the most recent trading day at $3,000.12, moving -1.86% from the previous trading session.
Levi Strauss & Co. (LEVI) reported Q2 earnings directly after Tuesday's closing bell, giving some sense of the abyss awaiting the Retail sector.
Also, Paychex earnings disappoint, and Becton, Dickinson was granted authorization for a 15-minute COVID-19 test.