Tag Archives: Amazon

Google, Amazon Face Shareholder Revolt Over Israeli Defense Work

Google and Amazon are both set to help build “Project Nimbus,” a mammoth new cloud computing project for the Israeli government and military that is spurring intense dissent among employees and the public alike. Shareholders of both firms will soon vote on resolutions that would mandate reconsideration of a project they fear has grave human rights consequences. Little is known of the plan, reportedly worth over $1 billion, beyond the fact that it would consolidate the Israeli… Source link

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Lessons from Amazon and Google helped build this $1.5 billion start-up

Faisal Masud knows what it takes to make a multibillion-dollar company thrive. The 49-year-old spent more than two decades working his way up the executive ranks at Amazon, Google, eBay and Staples. Now, he’s trying to implement lessons from those successful firms as the CEO of Fabric, a Seattle-based e-commerce start-up that launched in 2016 and is valued at $1.5 billion. (The company stylizes its name as “fabric,” to avoid confusion with online insurance company Fabric Technologies.) Masud… Source link

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Rivian Tumbles as IPO Lockup Expiration Means Ford, Amazon Can Finally Sell

(Bloomberg) — Shares of Rivian Automotive Inc. sank 21% as some early stakeholders got their first chance to unload shares on Monday. Most Read from Bloomberg Selling restrictions on certain Rivian insiders and investors ended on Sunday, freeing up a sizable chunk of the electric-vehicle maker’s float for public trading. The stock has now collapsed 87% from its November high. Now, the focus turns to the company’s two most prominent corporate backers — Amazon.com Inc. and Ford Motor Co…. Source link

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Amazon, Google close out their worst months on Wall Street since 2008

Getty Images; Chris Ratcliff | Bloomberg | Getty Images Shares of Amazon and Google parent Alphabet just closed out their steepest monthly drops since the 2008 financial crisis. The internet giants both reported weaker-than-expected quarterly results this week, hurt by a combination of macroeconomic factors, the war in Ukraine and tough comparisons to blowout numbers during the pandemic. Amazon tumbled 23.8% in April, its biggest decline since falling 25.4% in November 2008, the same month… Source link

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Amazon, Ford hit by massive losses on Rivian investments

Rivian’s (RIVN) recent stock performance may have burned a hole in many a retail investor’s portfolio. It’s also burned a big hole in Ford (F), and now Amazon’s, quarterly performance. Last night in its first quarter earnings report, Amazon (AMZN) revealed it booked a $7.6 billion mark-to-market loss on its investment in Rivian, which led to an overall $3.8 billion net loss for the quarter. Amazon owns an 18% stake in the electric vehicle maker. Earlier this week, Ford reported an overall $3.1… Source link

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Amazon stock tumbles 12% after reporting first quarterly loss in 7 years

Even mega-cap tech giant Amazon couldn’t bear up against the macroeconomic headwinds that imperiled Corporate America last quarter. Shares of Amazon (AMZN) plunged 12% on Friday, marking the tech giant’s biggest intraday drop since July 14, according to Bloomberg data. The slide wiped $170 billion off the company’s market valuation and sent the stock to its lowest level since June 2020. The sell-off comes at the heels of a disappointing earnings report from Amazon that showed a loss of… Source link

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Stock futures sink as Amazon, Apple shares decline after quarterly reports

U.S. stock futures opened sharply lower Thursday evening to give back gains after a regular-session rally, with a fresh set of mixed quarterly results from some major technology companies weighing on index futures. Contracts on the S&P 500, Dow and Nasdaq each declined. Shares of tech juggernaut Amazon slid in late trading after the company unexpectedly posted a quarterly loss and offered a weaker-than-expected current-quarter forecast. Apple’s stock also declined even after the iPhone-maker… Source link

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Amazon shares plunge 10% after company issues disappointing revenue forecast

Shares of Amazon (AMZ) dropped after the company revealed a revenue forecast that missed analyst estimates as consumers curb online spending in the face of economic uncertainty and a return to in-person activities. The company also reported a loss on its investment in electric-vehicle maker Rivian Automotive. Amazon was the last of Big Tech names to unveil quarterly earnings this reporting season. The tech behemoth’s cloud-computing platform Amazon Web Services (AWS) was a bright spot… Source link

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Kay Adams reportedly leaving NFL Network, eyeing Amazon

A familiar face is leaving NFL Network with her eyes set on one of the top openings in NFL broadcasting. “Good Morning Football” co-host Kay Adams has worked her last day with the show and is a candidate to host Amazon’s upcoming “Thursday Night Football” pregame show, Andrew Marchand of the New York Post reports. Adams has co-hosted the three-hour morning show on weekdays since 2016. With Amazon taking over streaming rights to “Thursday Night Football” broadcasts in the fall, Adams could be… Source link

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Amazon workers at 100 more facilities want to unionize: Amazon Labor Union president

Employees at more than 100 U.S.-based Amazon (AMZN) facilities have contacted Amazon Labor Union (ALU) President Chris Smalls about unionizing their workplaces since a historic union victory at a warehouse on Staten Island a week ago, Smalls told Yahoo Finance on Friday. Smalls, a former Amazon warehouse worker who led the organizing campaign on Staten Island, said he plans to hold a “national call” with employees at the Amazon facilities within the next two weeks. When asked whether he… Source link

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