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Fly News Breaks for February 20, 2020
WMT, AMZN, KR
Feb 20, 2020 | 09:11 EDT
Morgan Stanley analysts Simeon Gutman and Brian Nowak offered some takeaways to investors following the firm's annual Food Retail AlphaWise Survey of 3,000 grocery shoppers, stating that online grocery is "dominated" by Walmart (WMT) and Amazon (AMZN) and that Walmart remains dominant overall in the grocery category. Investments in price and e-commerce are driving a best-in-class grocery offering at Walmart with leading in-store and online shares, said the analysts, who noted that no retailers other than Walmart, Amazon and Kroger (KR) have greater than 20% penetration of online grocery shoppers.
News For WMT;AMZN;KR From the Last 2 Days
AMZN
Apr 8, 2020 | 16:41 EDT
Stocks began the trading day with solid gains, then took a leg higher after Senator Bernie Sanders announced he will suspend his presidential campaign, clearing the way for Joe Biden to secure the Democratic nomination and set up a show down between the former Vice President and President Donald Trump. Later in the... To see the rest of the story go to thefly.com. See Story Here
AMZN
Apr 8, 2020 | 12:27 EDT
Stocks began the trading day with solid gains and have taken a leg higher after Senator Bernie Sanders announced he will suspend his presidential campaign, clearing the way for Joe Biden to secure the Democratic nomination and set up a show down between the former Vice President and President Donald Trump. Outside of political... To see the rest of the story go to thefly.com. See Story Here
AMZN
Apr 8, 2020 | 09:06 EDT
JPMorgan analyst Brian Ossenbeck expects shares of both FedEx (FDX) and UPS (UPS) to react favorably to the Wall Street Journal's report that Amazon (AMZN) is suspending its delivery service of non-Amazon packages beginning in June. The service branded "Amazon Shipping" was billed as a direct competitor for FedEx and UPS customers, Ossenbeck tells investors in a research note. However, the analyst's view of the Amazon threat to parcel carriers remains unchanged. The one most at risk still is the United States Postal Service, contends Ossenbeck. The analyst views the Journal's report as "slightly more positive" for FedEx considering it no longer ships for Amazon and was viewed as at risk for direct competition. UPS will also benefit on news its largest customer has suspended a competing service for non-Amazon volumes, but Amazon will continue to in-source its own deliveries over time, says Ossenbeck.
WMT
Apr 8, 2020 | 07:39 EDT
Cowen analyst Oliver Chen revisited his long thesis on Target (TGT) which he says reflects compelling growth at a good price. The analyst likes its food/essentials exposure as consumers stock up and the social distancing pickup options as the company is seeing the benefits of its various fulfillment options. He noted shares are trading below Walmart (WMT) and he raised his estimate on both earnings and comps. Chen reiterated his Outperform rating and $150 price target on Target shares.
AMZN
Apr 8, 2020 | 06:36 EDT
Two workers at an Amazon fulfillment center in Middletown, Delaware, have been diagnosed with COVID-19, the company confirmed to Business Insider, Charles Davis reports, adding that another two have fallen sick at Amazon facilities outside Cleveland, Ohio. "We are supporting the individuals, who are recovering," a company spokesperson said. "We are following guidelines from health officials and medical experts, and are taking extreme measures to ensure the safety of employees at our site." Reference Link
WMT
Apr 8, 2020 | 06:29 EDT
Citi analyst Paul Lejuez assumed coverage of Walmart with a Buy rating with a price target of $140, up from $137. In the current COVID-19 crisis, Walmart is in a favorable position as it is a largely consumables-based business and is value-priced, Lejuez tells investors in a research note titled "Their Time to Shine." Because the company is there to serve customers through this period, it will result in more customer loyalty with existing customers and help Walmart gain new customers, says the analyst.
AMZN
Apr 7, 2020 | 16:43 EDT
BuzzFeed News reporter Caroline O'Donovan writes that amid protests,Amazon will provide "some pay" to workers sent home during the COVID-19 pandemic BuzzFeed News reports. "BuzzFeed News reported last Thursday that some employees with fevers were being sent home without pay..The new policy, according to a spokesperson for Amazon, is that 'if an employee has a fever they will be sent home and will be paid up to five hours of their scheduled shift that day," added BuzzFeed News. Reference Link
AMZN
Apr 7, 2020 | 16:37 EDT
Video game and esports reporter Rod Breslau said via Twitter that, with the launch of Riot Games' (TCEHY) new title "Valorant" and with COVID-19 keeping players inside, Amazon's (AMZN) Twitch curently has over 4M concurrent viewers on the site, "smashing" the site's all-time record. Reference Link