BMO Capital says that Cott's (COT) products "for the most part are likely to be resistant" to competition from Amazon (AMZN) since the e-commerce giant probably won't be able to use third party shippers to distribute bottled water in bulk. The firm doesn't expect Amazon to look to compete with Cott.

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As previously reported, Maxim analyst Tom Forte initiated coverage of Amazon.com with a Buy rating and $218 price target. The firm believes the company will be able to exploit consumer internet trends that include advertising, artificial intelligence, cloud computing, healthcare, logistics, and over-the-top, or OTT, video. The firm projects a compound annual sales growth rate of 6.5% from 2023-2026, which it notes compares to 14.2% in the prior three-year period.

Maxim initiated coverage of Amazon.com with a Buy rating and $218 price target.

Enthusiast Gaming Holdings (EGLXF) announced that in partnership with Amazon (AMZN), its esports team, Luminosity will be hosting a Rocket League invitational event featuring North America's top-ranked teams and players to promote Amazon Prime. The two-day invitational event will be hosted by Sean 'Spaceman' Rogers and Jack 'Corelli' Collier and feature eight of the top professional North American Rocket League teams, including Luminosity's very own, as they compete to earn a $15,000 prize pool on April 30th and May 1st. Throughout the tournament, players will be able to use unlimited boost as part of the 'Prime Boost Advantage' while Luminosity will run dynamic overlays that encourage fans to boost their shopping and streaming experience with Amazon. To promote the event, participants will be actively posting on their personal social media accounts and streaming their perspective of the event. In addition, the Company is pleased to announce that its previously announced sale of select non-core and non-profitable casual gaming assets has closed. Among the assets included as part of the divestment were Shockwave, LittleBigSnake, MathGames.com, and TypeRacer.com. Further details on the transaction can be found in the Company's press release dated April 1, 2024.

Amazon's HQ2 in Arlington, Virginia lost 200 jobs in 2023, missing the company's goal of adding 2,500 jobs, The Washington Post's Teo Armus reports. Amazon's HQ2 has roughly 8,000 employees and plans to reach about 25,000 by the end of the decade, according to its agreement with Virginia, Armus writes. Reference Link

Roth MKM analyst Rohit Kulkarni keeps a Buy rating and $205 price target on Amazon.com while noting that the firm's recent discussion with a 25-year veteran in e-commerce suggested that the company still has significant supply chain efficiencies to tap into. The firm hosted a webinar with an industry veteran who believes that the company will continue to tweak the regional distribution model and grow shipping efficiency, noting that Amazon.com still has over 20% of efficiencies left to gain, the analyst tells investors in a research note.