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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com, Inc.    AMZN

AMAZON.COM, INC.

(AMZN)
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Wall St edges up as Trump signs virus relief orders; more stimulus in focus

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08/10/2020 | 10:08am EDT

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)

* Eastman Kodak plummets as govt loan agreement put on ice

* U.S. stimulus a catalyst for markets right now- Analyst

* S&P 500 gains for seventh straight session

* Indexes up: Dow 0.58%, S&P 0.23%, Nasdaq 0.17%

Aug 10 (Reuters) - Wall Street indexes opened a touch higher on Monday after President Donald Trump signed executive orders over the weekend to support the country's economy through the coronavirus crisis until more concrete stimulus could be passed.

The S&P 500 traded about a percent below a record high, while the Nasdaq hovered below a lifetime high after a series of new peaks last week.

Trump's orders, that partly restored enhanced unemployment benefits, came after talks between the White House and top Democrats in Congress about fresh stimulus broke down.

U.S. Treasury Secretary Steven Mnuchin, in an interview to CNBC on Monday, said the Trump administration and Congress could reach an agreement as soon as this week if Democrats are "reasonable."

Tensions between Washington and Beijing were also at play, after Trump signed executive orders last week banning major Chinese technology firms in 45 days' time while announcing sanctions on 11 Chinese and Hong Kong officials.

Still, optimism over a better-than-expected earnings season and hopes of more stimulus saw the S&P 500 extend gains into a seventh straight session on Monday, while the Nasdaq scaled a record high every day of last week.

After a strong tech-led rally over the past few months, "to me it's about the U.S. stimulus as a catalyst for markets at this point," said Tim Chubb, chief investment officer at Girard in West Chester, Pennsylvania.

"I wouldn't we surprised if the markets were to close off a little bit here and we start to see some unwinding in the favorites."

At 9:40 a.m. ET, the Dow Jones Industrial Average was up 158.41 points, or 0.58%, at 27,591.89, the S&P 500 was up 7.76 points, or 0.23%, at 3,359.04. The Nasdaq Composite was up 18.78 points, or 0.17%, at 11,029.76.

Seven of the 11 major S&P sectors traded higher, with energy leading gains. Healthcare, real estate and utilities underperformed.

Among individual movers, Eastman Kodak Co plunged 37.5% after its $765-million loan agreement with the U.S. government to produce pharmaceutical ingredients was put on hold due to "recent allegations of wrongdoing." Trading in its shares was halted briefly due to volatility.

The No. 1 U.S. mall owner Simon Property Group rose 4% after a report that it has been in talks with Amazon.com Inc about turning some of its department-store sites into Amazon fulfillment centers.

Berkshire Hathaway Inc shares edged higher as its second-quarter net income surged 87%.

Advancing issues outnumbered decliners by a 2.91-to-1 ratio on the NYSE and by a 1.74-to-1 ratio on the Nasdaq.

The S&P index recorded 18 new 52-week highs and no new low, while the Nasdaq recorded 51 new highs and two new lows. (Reporting by Ambar Warrick and Medha Singh in Bengaluru; editing by Uttaresh.V)

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 0.66% 3019.79 Delayed Quote.63.42%
BERKSHIRE HATHAWAY INC. -0.34% 313780 Delayed Quote.-7.60%
CHUBB LIMITED 0.12% 113.99 Delayed Quote.-26.77%
DJ INDUSTRIAL 0.20% 26815.44 Delayed Quote.-6.04%
EASTMAN CHEMICAL COMPANY 0.04% 77.04 Delayed Quote.-2.84%
EASTMAN KODAK COMPANY -1.79% 8.77 Delayed Quote.88.60%
NASDAQ 100 0.58% 10896.470599 Delayed Quote.24.05%
NASDAQ COMP. 0.37% 10672.266213 Delayed Quote.18.94%
S&P 500 0.30% 3246.59 Delayed Quote.0.19%
SIMON PROPERTY GROUP, INC -0.10% 62.83 Delayed Quote.-57.82%
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Financials (USD)
Sales 2020 369 B - -
Net income 2020 15 942 M - -
Net cash 2020 51 861 M - -
P/E ratio 2020 96,4x
Yield 2020 -
Capitalization 1 513 B 1 513 B -
EV / Sales 2020 3,96x
EV / Sales 2021 3,30x
Nbr of Employees 798 000
Free-Float 81,3%
Chart AMAZON.COM, INC.
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Amazon.com, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 54
Average target price 3 672,84 $
Last Close Price 3 019,79 $
Spread / Highest target 39,1%
Spread / Average Target 21,6%
Spread / Lowest Target -16,4%
EPS Revisions
Managers
NameTitle
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Dave Clark Senior Vice President-Worldwide Operations
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
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