Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com    AMZN


News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Four Republican lawmakers ask Trump to move forward with $10 billion Pentagon cloud contract

share with twitter share with LinkedIn share with facebook
share via e-mail
07/19/2019 | 05:44pm EDT
FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves

WASHINGTON (Reuters) - Four Republican members of U.S. Congress, including House Armed Services Committee ranking member Mac Thornberry, sent a letter to President Donald Trump on Thursday urging him to move forward with a $10 billion cloud contract with the Defense Department.

Trump has said his administration was looking closely at Amazon.com bid on the Joint Enterprise Defense Infrastructure (JEDI) cloud contract after getting complaints from other tech companies.

"We believe that it is essential for our national security to move forward as quickly as possible with the award and implementation of this contract," said the letter, a copy of which has been seen by Reuters.

Oracle Corp had expressed concerns about the award process for the contract, including asking about the role of a former Amazon employee who worked on the project at the Defense Department but then recused himself, then later left the Defense Department and returned to Amazon Web Services.

Oracle and IBM Corp have since been taken out of competition for the contract, leaving Amazon and Microsoft Corp as finalists.

Earlier this month, Oracle lost a lawsuit challenging the award process, which it said violated federal procurement laws and was tainted by conflicts of interest. A judge ruled Oracle did not have standing to claim it was wronged by the decision because it did not meet the contract requirements.

The lawmakers, including Thornberry, Michael Turner, Elise Stefanik and Robert Wittman, said in the letter that the House Armed Services Committee has conducted oversight of the contract from the start and that the courts have upheld the Defense Department's "handling of the competition."

"It is understandable that some of the companies competing for the contract are disappointed at not being selected as one of the finalists," the letter said, adding that further delays will hurt the country's security and increase costs for the contract.

JEDI meets only a portion of the Defense Department's need for cloud services and is an important first step in competing with countries like China, the members said. Any unnecessary delay will hurt the country's security and increase costs of the contract, they added.

Amazon and Oracle did not immediately respond to a request for comment.

(Reporting by Nandita Bose in Washington and Jeffrey Dastin in San Francisco; Editing by Susan Thomas and Sonya Hepinstall)

By Nandita Bose and Jeffrey Dastin

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM 0.93% 1792.57 Delayed Quote.18.25%
MICROSOFT CORPORATION 1.83% 136.13 Delayed Quote.31.61%
ORACLE CORPORATION 1.90% 53.59 Delayed Quote.16.48%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on AMAZON.COM
09:32aHindu group sees Chinese telecom firms as security risk for India
08/16AMAZON COM : Appeals Court Rules in Favor of Amazon in Tax Case -Reuters
08/16Amazon.com defeats IRS appeal in U.S. tax dispute
08/16Alibaba to buy Kaola unit from NetEase for $2 billion - Caixin
08/16Stocks: Walmart Set to Outpace Amazon for 2019 -- WSJ
08/15MARKET SNAPSHOT: U.S. Stocks Recover Some Ground, Boosted By Walmart Earnings..
08/15AMAZON COM : faces online backlash in China for T-shirts with Hong Kong democrac..
08/15Walmart Set to Outpace Amazon for 2019 -- Update
08/15Amazon faces online backlash in China for T-shirts with Hong Kong democracy s..
08/15Strong U.S. retail sales ease gloom over economy
More news
Financials (USD)
Sales 2019 279 B
EBIT 2019 14 968 M
Net income 2019 12 108 M
Finance 2019 34 260 M
Yield 2019 -
P/E ratio 2019 75,6x
P/E ratio 2020 53,1x
EV / Sales2019 3,06x
EV / Sales2020 2,52x
Capitalization 887 B
Duration : Period :
Amazon.com Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMAZON.COM
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 50
Average target price 2 270,11  $
Last Close Price 1 792,57  $
Spread / Highest target 45,9%
Spread / Average Target 26,6%
Spread / Lowest Target 16,0%
EPS Revisions
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Tom A. Alberg Independent Director
Thomas O. Ryder Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AMAZON.COM18.25%878 568
WAYFAIR INC22.58%9 912
ETSY INC10.59%6 229
ZOZO INC1.42%5 705
MONOTARO CO.,LTD.-10.04%5 387