Live Updates: The Latest News on Amazon Stock

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Welcome to InvestorPlace’s Amazon (NASDAQ:AMZN) live blog, where you can find up-to-the-second insights in Amazon stock news today.

[Check back often, as this page will be updated with more Amazon stock news and insights each day the market is open.]

Amazon Has a New Plan to Verify Sellers

[Monday, April 27, 11:35 a.m.]

AMZN stock is up 0.19% in intraday trading.
According to The Verge, Amazon is testing using video calls to verify its third-party sellers. This comes after reports that these sellers often list mislabeled, banned or unsafe products. Over half of the goods sold on Amazon.com come from third-party accounts.

Watch for U.S.-China Tensions in AMZN’s Earnings Report

[Monday, April 27, 10:41 a.m.]

Amazon reports first-quarter earnings on April 30.
According to Axios’ Kyle Daly, investors should pay particular attention to how the fallout between the United States and China will impact companies moving forward. Daly is watching for manufacturing and supply chain news, as well as cooling political relations.
Amazon is less tied to China than, say, Apple (NASDAQ:AAPL), but it’s still a Big Tech company on Daly’s radar.

Trump Tells USPS to Start Charging Amazon More

[Friday, April 24, 4:45 p.m.]

AMZN stock closed Friday higher by 0.5%.
President Donald Trump told the United States Postal Service Friday that he won’t approve a $10 billion loan unless it raises the fees it charges Amazon and other shippers. He’s asking the USPS to increase current rates by four or five times.
According to the Associated Press, Trump has repeatedly mentioned that Amazon is taking advantage of the USPS.

JMP Securities and MKM Partners Boost AMZN Targets

[Friday, April 24, 2:21 p.m.]

AMZN stock is up 0.1% in intraday trading.
JMP Securities analyst Ronald Josey raised his price target on AMZN from $2,450 to $2,650, as Amazon is the “prime beneficiary” of increased e-commerce action.
MKM Partners analyst Rohit Kulkarni raised his price target from $2,325 to $2,500. He says Amazon will continue to gain market share in e-commerce and cloud computing.

Did Amazon Lie to Congress About Third-Party Data?

[Friday, April 24, 1:21 p.m.]

AMZN stock is near flat in intraday trading.
Yesterday, a Wall Street Journal investigation found that Amazon employees used data from third-party sellers to make decisions regarding private-label products.
Now, House Antitrust Subcommittee Chairman David Cicilline says Amazon’s witness “may have lied to Congress” last year. That witness, and other company representatives, have maintained that employees do not consult seller-specific data.
Cicilline is leading an investigation into Amazon and its Big Tech peers to “determine the state of competition” in digital markets.

Stifel Lifts AMZN Price Target on E-Commerce Potential

[Friday, April 24, 11:57 a.m.]

AMZN stock is down 0.2% in intraday trading.
Stifel Nicolaus analyst Scott Devitt maintained his “buy” rating on Amazon and raised his price target from $2,400 to $2,600.
At the same time, he boosted his price targets for two e-commerce competitors. He raised Wayfair (NYSE:W) from $75 to $115 and eBay (NASDAQ:EBAY) from $40 to $45. He says that e-commerce sales are accelerating dramatically and will continue to have strong momentum.

How Should You Trade AMZN Before Earnings?

[Friday, April 24, 9:47 a.m.]

AMZN stock opened Friday at $2,399.98.
Ahead of Amazon’s earnings report on April 30, InvestorPlace’s Tezcan Gecgil is offering investors a few trading strategies. For starters, she recommends that if you already own shares you might be better “staying the course.” And if you don’t have a position yet, she writes that investors should wait out near-term volatility and enter positions after the report.
But don’t worry, she has advice for experienced investors too. She recommends a covered call strategy with a two-month time horizon — like a Jun 19 expiry. She says this strategy offers downside protection and allows investors to participate in any moves higher.

Amazon Donates 250,000 Pounds to Bookseller Fund

[Thursday, April 23, 3:24 p.m.]

AMZN stock is up 1.5% in intraday trading.
In a charitable move, Amazon donated 250,000 pounds to the Book Trade Charity, an organization designed to help publishers and bookshops. According to a report from the BBC, the company asked that its donation be “low-key.” These companies are struggling as the pandemic forced many businesses to temporarily close down.
The CEO of Book Trade Charity said this donation may be controversial to some booksellers, who have strained relationships with Amazon. The company is largely thought to have disrupted the brick-and-mortar book selling business.

Former Amazon Employees Say It Stole Data from Sellers

[Thursday, April 23, 2:23 p.m.]

AMZN stock is up 1.2% in intraday trading.
According to a new report from The Wall Street Journal, Amazon’s private-label employees stole data from its third-party sellers. This goes against the company’s stated policy and its testimony before Congress.
The former employees say Amazon uses this data to price new products, copy certain features and make decisions on which product segments to enter (evaluating earnings potential).
In response, Amazon representatives maintained the company forbids employees from reviewing seller-specific data to launch any private-label products.

Goldman Sachs Takes Amazon Price Target to $2,900

[Thursday, April 23, 11:53 a.m.]

AMZN shares are up 1.5% in intraday trading.
Goldman Sachs analysts got bullish on AMZN stock (subscription required) early on Thursday, raising the firm’s price target from $2,600 to $2,900. While Amazon is certainly outperforming the market, the firm still believes it is a leader in online retail and cloud computing.
Amazon is set to report earnings on April 30.

Bezos Steps Back Up Amid the Pandemic

[Thursday, April 23, 9:45 a.m.]

AMZN stock opened at $2,399.98 today and is up 2.3% in intraday trading.
According to The New York Times, CEO Jeff Bezos has returned to the helm to help steer Amazon through day-to-day problems. He has spent the last several years focusing specifically on long-term projects.
Amazon has come under criticism for delayed shipments and for its handling of infections at its warehouse facilities. But The New York Times points out that despite the criticism, AMZN stock has gained. Bezos alone has become $25 billion richer since March.

Will Consumers Forgive Amazon for Delayed Shipments?

[Wednesday, April 22, 3:30 p.m.]

AMZN shares are up 1.9% in intraday trading.
The New York Times’ Shira Ovide interviewed colleague Karen Weise about everything from Amazon’s shipment delays to its efforts to keep consumers from buying non-essential products. One question Ovide poses is important. Will consumers forgive Amazon for delays and shortages in key products like toilet paper and cleaning solutions? Weise isn’t sure.
Weise says one thing that’s hurting Amazon is that it doesn’t have a “curbside pick-up” option like rivals Walmart (NYSE:WMT) and Target (NYSE:TGT). However, she notes there is no data to prove whether a rival is outperforming Amazon in terms of deliveries and goods in stock.

Wedbush Raises Price Target on Amazon to $2,750

[Wednesday, April 22, 2:00 p.m.]

Wedbush’s Michael Pachter reiterated his “outperform” rating on AMZN stock and raised his price target to $2,750. That implies 16% upside from the current share price, and is the fourth-highest price target on Wall Street.
Some consumers have reported their disappointment in Amazon for not handling the surge in demand. However, Pachter believes this is a “high-class problem” and should not hurt AMZN stock before earnings.

Amazon Launches AWS Region in South Africa

[Wednesday, April 22, 11:05 a.m.]

Amazon launched a new AWS Region — a hub of cloud infrastructure — in Cape Town, South Africa this morning. With this new launch, its Amazon Web Services is now available in 23 geographic regions and 73 “availability zones” around the world. The Cape Town Region adds three availability zones, which each include a data center.
Prior to launching this Region, Amazon had opened a development office in Cape Town as well as an AWS office in Johannesburg. It also has cloud infrastructure in Nairobi, Kenya.

Amazon Leads Big Tech in Q1 Lobbying

[Wednesday, April 22, 10:00 a.m.]

AMZN shares opened at $2,369 and are up 2.2% in intraday trading.
Amazon saw a 3% quarter-over-quarter increase in spending on lobbying, spending a total of $4.3 million. Although the federal government has often put Amazon under scrutiny, CNBC’s Lauren Feiner says the company, along with its Big Tech peers, is using the novel coronavirus to justify lobbying.
Amazon’s filings focused on issues related to the $2 trillion stimulus bill and its efforts to combat price gouging and false claims about Covid-19.

Wait for a Better Entry Point With AMZN Stock

[Tuesday, April 21, 4:55 p.m.]

AMZN shares closed Tuesday lower by 2.7%, with a share price of $2,328.
InvestorPlace’s Nicolas Chahine writes that he always considers Amazon stock a buy. However, he’s confident there are better entry points for long-term investors. His ideal entry price would be $2,050, but he would recommend a partial entry at $2,200.
As a note — any downside here isn’t related to the company’s fundamentals. Chahine is confident that AMZN stock will be a coronavirus winner.

Amazon Grows Grocery Presence Through Pilot Program

[Tuesday, April 21, 2:30 p.m.]

According to Fox Business, Amazon began a pilot program to accept food stamps in seven states for online grocery orders. Supplemental Nutrition Assistance Program (SNAP) beneficiaries can now use benefits for qualifying online orders and at certain stores.
This pilot program is part of Amazon’s partnership with the U.S. Department of Agriculture.
As stay-at-home orders keep Americans out of stores, AMZN stock is gaining on increased food orders. This order stands to benefit its grocery market share, as 37.5 million people participate in the food stamp program.

Amazon Workers Begin Week-Long Protest Tuesday

[Tuesday, April 21, 12:45 p.m.]

AMZN shares are down 2.9% as of this writing.
According to CNBC’s Annie Palmer, Amazon workers are staging a “mass call out” over working conditions at the company’s facilities. At least 300 workers across 50 sites have signed on to the protest.
The call out began Tuesday, and is expected to last all week.
The sign-up page for the protest, coordinated by United for Respect, says employees have contracted Covid-19 at 130 different warehouses. The workers are hoping to raise attention over their “lack of protection.” They are also asking Amazon to immediately close any facilities where individuals have tested positive.

Amazon Is ‘Way Too Hot’ Right Now

[Tuesday, April 21, 12:05 p.m.]

AMZN shares are down 3.1% as of this writing.
InvestorPlace’s Thomas Niel wrote today that “Amazon Stock Is Just Way Too Hot to Touch Right Now” as it trades near $2,400 per share. He recommends that investors wait for a pullback before accumulating more shares or entering a new position.

Jefferies Raises Amazon to Street-High $2,800

[Tuesday, April 21, 10:40 a.m.]

Jefferies analyst Brent Thill raised his price target on AMZN stock from $2,300 to $2,800 per share. Using a sum-of-the-parts analysis, he says there’s a path for Amazon to hit $4,000.
Why’s Thill bullish? He thinks that while the novel coronavirus is boosting demand in the short term, it will also have long-lasting impacts on Amazon’s operating income.
AMZN is the top large-cap stock pick at Jefferies.

Amazon Pledges $10 Million to Save Forests

[Tuesday, April 21, 10:15 a.m.]

Shifting away from pandemic news, Amazon CEO Jeff Bezos pledged $10 million Tuesday morning to restore and protect forests in the northeastern U.S.
This is the first investment from the company’s $100 million Right Now Climate Fund, which Bezos introduced in September 2019. Amazon hopes to be “carbon neutral” by 2040.

Is Amazon Launching Seller-Focused Health Insurance?

[Tuesday, April 21, 9:40 a.m.]

According to reporting from Recode, Amazon administered a survey to its sellers, asking them what insurance they offer their employees and whether they would consider an alternative. This survey has some speculating Amazon is rolling out health insurance offerings for its sellers.
Amazon sellers account for 60% of Amazon’s retail sales, and there are 900,000 active sellers in the U.S. alone.
Amazon’s other forays into healthcare include its 2018 acquisition of PillPack, its joint venture Haven and Amazon Care, its virtual healthcare clinic for Seattle employees.

Mark Cuban Says Amazon Is Going ‘Up, Up, Up’

[Tuesday, April 21, 9:10 a.m.]

Billionaire investor Mark Cuban says AMZN stock will continue to go “up, up, up” even after the novel coronavirus subsides. He argues that even once stay-at-home orders are lifted, consumers will be hesitant to go to stores, giving Amazon.com sales a further boost.
AMZN shares are up 30% year-to-date, and the company recently announced it is bringing on 175,000 new employees.

Amazon Prime U.S. Members Estimated to Hit 118 Million

[Monday, April 20, 4:59 p.m.]

Based on a report from market research firm Consumer Intelligence Research Partners, TheStreet.com reports that the U.S. membership to Amazon’s Prime service has grown to 118 million individuals members as of March 31. That would represent an addition of 18 million paid subscribers in the first quarter of this year.
The reporting also estimated that 70% of 30-day trials converted to paying customers last month.

Morgan Stanley Recommends Locking in Amazon Profits

[Monday, April 20, 4:51 p.m.]

According to a report in Barron’s, investment bank Morgan Stanley has removed Amazon from its coveted “Fresh Money” list of preferred stocks to purchase. The bank recommended that investors “lock in profits today.”