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Symbol AMZN
Name Amazon.com, Inc.
Currency USD
Sector Consumer Discretionary
IndustryGroup Retailing
Industry Internet & Direct Marketing Retail
Market NASDAQ Global Select
Country United States
State WA
City Seattle
Zipcode 98109-5210
Website http://www.amazon.com
Dominion Energy is collaborating with tech companies, including Amazon, to develop small modular nuclear reactors, following a recent agreement to explore this next-generation technology. The proposed reactor near North Anna nuclear station in Virginia aims to deliver 300 megawatts of carbon-free power, catering to the energy demands of data centers. Despite the promise of reduced costs and simpler deployment, small modular reactors have yet to achieve commercial operation in the U.S.
Dominion Energy Inc. is in talks with various technology firms to develop small modular nuclear reactors, following a recent agreement with Amazon.com Inc. CEO Bob Blue expressed optimism about the collaboration, highlighting the interest from major power users in advancing this carbon-free technology.
Amazon shares surged 6% after reporting better-than-expected earnings, driven by growth in cloud computing and advertising. Revenue rose 11% to $158.9 billion, with earnings of $1.43 surpassing estimates. The company plans to invest $75 billion in capital expenditures for 2024, primarily to enhance technology infrastructure and capitalize on generative AI opportunities.
Amazon.com, Inc. is a leading global player in online retail, offering a wide range of products including electronics, cultural items, and various services. Its revenue is primarily derived from service sales (55.5%) and product sales (44.5%), with the majority of net sales coming from the United States (68.8%). Other significant markets include Germany (6.5%), the United Kingdom (5.9%), and Japan (4.5%).
The UK Treasury plans to increase business rates for large distribution warehouses used by online retailers, including Amazon, starting in 2026-27. This move aims to fund reduced tax bills for high street shops, targeting properties with a rateable value over £500,000.
At a recent all-hands meeting, Google executives faced employee concerns over impending cost cuts, following comments from CFO Anat Ashkenazi about further efficiencies. While the company reported strong earnings, executives acknowledged a shift in hiring practices and the potential for more layoffs, emphasizing the need for increased productivity through AI. CEO Sundar Pichai reassured employees that decisions regarding workforce changes are not solely made at the top level and highlighted the importance of investing in talent.
The Brics summit in Kazan highlights the growing geopolitical influence of the group, which now represents nearly half of the global population and a third of GDP. This flexible alliance, characterized by diverse political systems, seeks to challenge Western dominance while fostering strategic cooperation among its members. Russia, in particular, benefits from increased intra-Brics trade and diplomatic support, positioning itself as a key player within this evolving network.
UBS has raised its target price for Amazon from $223 to $230, maintaining a "Buy" rating, citing strong profitability and a positive outlook for the fourth quarter. Other analysts have also increased their targets, with Jefferies at $235 and Goldman Sachs at $240, following Amazon's impressive Q3 earnings. The company anticipates robust profits and sales during the holiday shopping season.
Wall Street analysts have shared their insights following Amazon's third-quarter earnings report, highlighting key performance metrics and future expectations for the tech giant. The analysis reflects a mix of optimism and caution regarding Amazon's growth trajectory in a competitive market.
UBS has raised its price target for Amazon.com to $230, up from the previous target of $223. This adjustment reflects the firm's updated outlook on the company's performance in the market.
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