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Fly News Breaks for February 24, 2020
UPS, AMZN
Feb 24, 2020 | 08:06 EDT
UPS (UPS) disclosed in its annual filing that Amazon.com (AMZN) represented 11.6% of the company's revenues in 2019, substantially all of it attributable to its U.S. Domestic Package segment, Deutsche Bank analyst Amit Mehrotra tells investors in a research note. This implies Amazon accounts for 18.5% of UPS's domestic revenue, which is too much exposure to a customer with a well-known track record of in-sourcing/re-sourcing business with relatively little notice, contends the analyst. He believes that while Amazon is "clearly a driver" of revenue and EBIT growth for UPS, there are "very valid questions" about what risks are created by this significant level of exposure.
News For UPS;AMZN From the Last 2 Days
AMZN
Apr 3, 2020 | 16:30 EDT
The S&P 500 ended lower for the week and closed out on a down note after a bigger than expected drop in payrolls. Scarier still, that... To see the rest of the story go to thefly.com. See Story Here
AMZN
Apr 3, 2020 | 13:55 EDT
Amazon will delay its Prime Day event at least until August and expects a potential $100M hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters, Krystal Hu and Jeffrey Dastin report. Reference Link
AMZN
Apr 3, 2020 | 09:47 EDT
Seth Schiesel from the New York Times wrote on Thursday that "internet giant" Amazon (AMZN) is making a push into "a new front in the campaign to dominate digital entertainment." According to the NY Times story, Amazon is looking to make its presence known as a creator of video games not just a distributor. Amazon is aiming its efforts at rivals Google (GOOG) and Microsoft (MSFT), which have broadened their video game offerings, the NYT story added. "The internet giant said it intended to release its first original big-budget game, an ambitious science-fiction shooter called Crucible, in May after several coronavirus-related delays. It is also developing a full-fledged cloud gaming platform under the code name Project Tempo," added the New York Times. Reference Link
AMZN
Apr 2, 2020 | 12:42 EDT
Software & Internet Analyst Thill, along with Andrew Lipsman, Principal Analyst at eMarketer, discuss recent trends and developments affecting Amazon and the Online Retail Industry due to COVID-19 on an Analyst/Industry conference call to be held on April 3 at 1 pm.
AMZN
Apr 1, 2020 | 16:56 EDT
Amazon's (AMZN) Prime Video iOS (AAPL) and Apple TV apps will now allow users to make in-app purchases, The Verge's Nick Statt reports. The move marks a significant change in Amazon's approach to Apple's App Store, which mandates a 30% cut on all in-app purchases, Statt notes. The new policy extends to purchase not just on the iPhone and iPad, but Apple TV as well, Statt says. Reference Link
AMZN
Apr 2, 2020 | 16:38 EDT
Stocks began April and the second quarter with steep losses, picking up where they left off after a dismal first quarter. The coronavirus announcements... To see the rest of the story go to thefly.com. See Story Here
AMZN
Apr 1, 2020 | 10:43 EDT
Amazon employees at a fulfillment center close to Detroit, Michigan are set to walk out as they demand the company be more transparent about COVID-19 and immediately shutter and clean the warehouse, The Verge's John Dzieza reports, citing workers. The staff said management failed to inform them of the first coronavirus case and was delayed in notifying them to a second, causing them to believe there are more infections than they're being made aware of. Reference Link