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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com    AMZN

AMAZON.COM

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Trump says looking closely at Amazon's bid on $10 billion Pentagon contract

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07/18/2019 | 04:32pm EST
FILE PHOTO: The logo of Amazon is seen on the door of an Amazon Books retail store in New York

WASHINGTON (Reuters) - U.S. President Donald Trump said on Thursday his administration was looking closely at Amazon.com's bid on a $10 billion (£7.97 billion) cloud contract with the Defense Department after getting complaints from other tech companies.

Amazon.com Inc and Microsoft Corp were selected in April to continue competing for the Pentagon cloud computing services that is part of a broad modernization of Pentagon information technology systems.

The selection left Oracle Corp and IBM Corp out of the competition for the contract for the Defense Department's Joint Enterprise Defense Infrastructure Cloud, or JEDI.

Trump has taken several swipes at Amazon since becoming president, complaining of unfair business practices and that the online retailer does not pay the U.S. Postal Service a fair rate for package delivery.

Amazon did not have an immediate comment.

Trump's criticism stems in part from his oft-expressed dislike of the Washington Post's critical coverage of his administration. Amazon Chief Executive Jeff Bezos privately owns the Washington Post.

Oracle has complained about the contract award process, including expressing concern about the role of a former Amazon employee who worked on the JEDI project until recusing himself, then later left the Defense Department and returned to Amazon Web Services.

Oracle earlier this month lost a lawsuit challenging the contract award. A judge ruled Oracle did not have standing to claim it was wronged by the decision because it did not meet the contract requirements.

Its chief executive, Safra Catz, who was a member of the executive committee of Trump's transition team after he was elected, told reporters in April that she has met with Trump to discuss the contract, telling him commercial customers often use more than one cloud.

(Reporting by Steve Holland; Writing by David Alexander; Editing by Susan Thomas and Jonathan Oatis)

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM -1.22% 1861.64 Delayed Quote.0.75%
INTERNATIONAL BUSINESS MACHINES CORPORATION -1.62% 140.56 Delayed Quote.4.86%
MICROSOFT CORPORATION -1.01% 165.04 Delayed Quote.4.65%
ORACLE CORPORATION -1.66% 54.07 Delayed Quote.2.06%
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Financials (USD)
Sales 2019 279 B
EBIT 2019 13 387 M
Net income 2019 10 525 M
Finance 2019 36 743 M
Yield 2019 -
P/E ratio 2019 89,1x
P/E ratio 2020 68,0x
EV / Sales2019 3,17x
EV / Sales2020 2,59x
Capitalization 923 B
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Technical analysis trends AMAZON.COM
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Mean consensus BUY
Number of Analysts 52
Average target price 2 181,65  $
Last Close Price 1 861,64  $
Spread / Highest target 37,0%
Spread / Average Target 17,2%
Spread / Lowest Target -0,63%
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Managers
NameTitle
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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