FINWIRES · TerminalLIVE
FINWIRES

Update: Amazon's Legal Challenge Over Minimum Book Delivery Fees Rejected by France's Council of State

By

(Updates with statement from France's Council of State in first and second paragraph and Amazon's response in the third paragraph.)

Amazon's (AMZN) legal challenge over the minimum delivery charge of 3 euro ($3.5) on book orders under 35 euros was rejected by France's Council of State, the administrative court said on Wednesday.

The Council of State ruled that the minimum delivery charge, as set by the French government in 2023, does not violate the free movement of goods guaranteed by the Treaty on the Functioning of the European Union, according to a Google translation.

An Amazon spokesperson toldin an emailed response that the court's decision was "disappointing," and that this measure has cost readers over 100 million euros, driven the French further away from books, and has strengthened large retail chains rather than independent booksellers.

Price: $264.95, Change: $-0.87, Percent Change: -0.33%

Related Articles

Australia

Wedbush Lifts Price Target on Alto Neuroscience to $24 From $21, Maintains Neutral Rating

Alto Neuroscience (ANRO) has an average rating of buy and mean price target of $35.52, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $23.62, Change: $-1.01, Percent Change: -4.10%

$ANRO
Australia

Algoma Steel Group Maintained at Buy at Stifel Canada Following Q1 Results; Price Target Kept at C$11.50

Stifel Canada on Wednesday maintained its buy rating on the shares of Algoma Steel Group (ASTL.TO) and its C$11.50 price target after the company released first-quarter results."Algoma's 2Q26 adj. EBITDA (prior to capacity utilization adjustments) of -$111 mm was modestly better than our forecast of -$122 mm. Importantly, net debt exiting 1Q26 was $892 mm, 7.2% below our estimate of $961 mm. Liquidity exiting the quarter was $553 mm, and our FCF forecast between 2Q26E and 4Q26E is $13 mm due to a large tax refund expected in 3Q26E. We continue to believe the company has ample liquidity to last through the next Federal Election in the U.S. (potential tariff relief), and to retain its status as a "champion" that will benefit from Canadian defense spending," analyst Ian Gillies wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $7.36, Change: $+0.50, Percent Change: +7.29%

$ASTL.TO
Australia

Affirm Makes 'Strong Case' for Updated Medium-Term Growth Targets, RBC Says

Affirm (AFRM) presented a "strong case" for achieving its updated "medium-term growth targets," driven by merchant point-of-sale financing, direct-to-consumer expansion and international growth, RBC Capital Markets said in a note Wednesday.The company is targeting $100 billion in gross merchandise volume, up from about $46 billion currently, while also forecasting stronger revenue margins and annual GAAP earnings per share of about $3 to $4. It also highlighted the Affirm "Card," enterprise merchant expansion and international partnerships as "key growth drivers," according to the note.Affirm's funding model is becoming a "competitive advantage" as the company scales, lowering funding costs through its network of about 200 "unique funding partners." A pending industrial bank charter could further strengthen the company's funding capabilities through deposits and loan origination, RBC said.RBC also pointed to "emerging opportunities" in agentic commerce and Affirm Edge, which embeds buy now, pay later services into banking apps through partnerships with "large commerce" companies.RBC has a sector perform rating on Affirm, with a price target of $80.Price: $63.78, Change: $-1.65, Percent Change: -2.52%

$AFRM