Amazon

Sectors10d ago

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.The Philadelphia Semiconductor index was down 1.6%.In corporate news, Alphabet's (GOOGL) Q2 revenue beat Wall Street's estimates amid demand for AI infrastructure, but its capital expenditure doubled year over year. Its shares fell 7%.STMicroelectronics (STM) shares tumbled past 18% after its Q3 revenue outlook fell short of analysts' consensus.Intel (INTC) and Advanced Micro Devices (AMD) are signing longer-term contracts to sell data center processors, or chips, to China-based server customers, Reuters reported. Intel shares were down 2.4%, and AMD fell 2.8%.Amazon.com-backed (AMZN) Anthropic is considering requiring all employees to sell any shares through 10b5-1 stock plans, The Information reported. Because 10b5-1 stock plans require the sale of shares on preset schedules, they are intended to protect against insider trading accusations. However, they're typically only for top-level executives. Amazon shares were down 4.6%.

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Market Chatter: Amazon Under Investigation by US Senate Committee for Alleged Chinese Influence

Amazon (AMZN) is under investigation by the Senate Small Business Committee for allegedly letting China influence the company's online marketplace, Bloomberg reported late Wednesday, citing a document and two people interviewed as part of the probe.The Republican committee staff have been investigating "Amazon negligence related to Chinese influence and have found compelling evidence," as per an email a committee researcher sent to an Amazon seller who provided information to the investigators, the report said.The email did not cite any specific evidence of Chinese influence, according to the report.Amazon did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $233.79, Change: $-11.06, Percent Change: -4.52%

Amazon.com Seen Maintaining AI Focus Despite Higher Capex, Wedbush Says

Amazon.com (AMZN) continues to offer a favorable long-term artificial intelligence opportunity despite investor focus on capital spending and free cash flow, Wedbush said in a Thursday note.The firm said it will focus on Amazon's capital spending outlook, Amazon Web Services' backlog, artificial intelligence revenue and potential external Trainium chip sales when the company reports Q2 results.Wedbush expects continued investment in Trainium capacity and the Amazon Leo satellite network while monitoring management's commentary on demand and capacity. The firm also expects North America retail margins to continue improving through automation, faster delivery hubs and AI-driven personalization.Advertising remains an important margin contributor through Prime Video's advertising tier and the company's demand-side platform, Wedbush analysts noted.Amazon will report Q2 results after markets close on July 30.Shares of the company were 5% lower in Thursday trading.Wedbush maintained its outperform rating on Amazon and its $293 price target.Price: $232.93, Change: $-11.92, Percent Change: -4.87%

Brown & Brown Teams With Anthropic, McKinsey, Accenture on AI Initiative

Brown & Brown (BRO) is partnering with Amazon-backed (AMZN) Anthropic, Accenture (ACN) and McKinsey as part of the next phase of its enterprise technology transformation to become an AI-first company, the company said Thursday.The insurance brokerage said it plans to deploy Anthropic's Claude AI platform across its 23,000 employees and integrate artificial intelligence into customer service, operations, technology and corporate workflows.The company will also roll out Claude Code across its software engineering organization to accelerate software development, it added.Price: $65.20, Change: $-0.19, Percent Change: -0.28%

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Market Chatter: Anthropic Considers Requiring 10b5-1 Stock Plans for All Employees

Amazon.com-backed (AMZN) Anthropic is considering requiring all employees to sell any shares through 10b5-1 stock plans, The Information reported Thursday.Because 10b5-1 stock plans require the sale of shares on preset schedules, they are intended to protect against insider trading accusations. However, they're typically only for top-level executives.Anthropic is also mulling how many shares stockholders should be allowed to sell on the first day of trading, and how the company should deal with lockup periods, The Information reported.Anthropic didn't immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $236.42, Change: $-8.43, Percent Change: -3.44%

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US Markets11d ago

Majority of Residents Oppose AI Data Center Construction in Their Area, Redfin Survey Shows

A majority of US residents object to artificial intelligence data centers being built near their homes despite the economic benefits of such projects, a Redfin.com survey showed Wednesday.Some 53% of Americans opposed construction of those data storage and processing facilities in their neighborhoods, while 34% expressed support, according to the online real estate brokerage. The survey covered 4,000 respondents, who were asked about how they feel about certain types of properties being built in their areas."People are concerned about noise, increased traffic, heavy water and electricity use, and how a large industrial building might change the feel of their neighborhood," Redfin Premier agent Matt Ferris said. "Right or wrong, the perception is that data centers will change neighborhoods in a negative way."AI data centers can provide educational and other benefits to local communities, according to the report.US technology giants Amazon.com (AMZN), Meta Platforms (META), Microsoft (MSFT), and Alphabet (GOOG, GOOGL) are expanding their data center footprints in the US and globally amid robust demand for AI and cloud services.New York imposed a ban on the construction of new large-scale data centers using at least 50 megawatts of power for up to one year, the first US state to do so, according to a CNBC report last week.Roughly 39% of respondents opposed construction of a new apartment complex in their neighborhood, while 32% were against a mixed-use development, the Redfin survey showed Wednesday. Some 48% opposed converting single-family homes into smaller dwellings to increase supply in their area.In terms of age group, older generations are more likely than the younger ones to oppose data centers in their area, according to the report.Price: $244.09, Change: $-3.46, Percent Change: -1.40%

Sectors11d ago

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally lower and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.4%.The Philadelphia Semiconductor index climbed 0.9%.In corporate news, Super Micro Computer (SMCI) shares surged past 20% after the firm said it expects fiscal Q4 GAAP and non-GAAP gross margins to be 15% to 17%, significantly above its 8.2% to 8.4% forecast, due to a favorable customer and product mix.Advanced Micro Devices (AMD) committed to invest up to $5 billion in Anthropic, while the companies entered into a strategic partnership covering AMD chips. AMD will make the investment in the AI firm "in the future," the companies said Wednesday. AMD shares rose 3.1%.Amazon (AMZN) is eliminating some roles within parts of its artificial general intelligence organization, a company spokesperson confirmed toWednesday in an emailed statement. Amazon shares were shedding 1.2%.SpaceX's (SPCX) SpaceXAI unit is exploring several potential sites in Texas for at least one new large-scale data center, The Information reported. SpaceX shares were down 5.6%.

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US Markets11d ago

AMD to Invest Up to $5 Billion in Claude Maker Anthropic; Companies Sign Chip Partnership

Advanced Micro Devices (AMD) committed to invest up to $5 billion in Anthropic, while the companies entered into a strategic partnership covering AMD chips.AMD will make the investment in the Amazon.com-backed (AMZN) artificial intelligence firm "in the future," the companies said Wednesday.The strategic partnership covers the deployment of up to 2 gigawatts of AMD Instinct MI450 series graphics processor units in AMD Helios rack-scale solutions, with initial deployment starting in the first half of next year. Anthropic is already using AMD Instinct MI355X GPUs, according to a joint statement."We are thrilled to deepen our partnership with Anthropic and deploy AMD Helios at gigawatt scale," AMD Chief Executive Lisa Su said. "This collaboration brings together Anthropic's leadership in frontier AI with the full strength of AMD high-performance computing."AMD shares were up 1.8% in Wednesday late-afternoon trade, bringing its year-to-date gains to about 159%."By partnering with AMD across the stack, we are securing the capacity we need and optimizing it for training and serving Claude," Anthropic Chief Compute Officer Tom Brown said.The companies are also launching a multiyear engineering collaboration under which teams will use Claude to optimize workloads for AMD Instinct GPUs and accelerate ROCm software development. ROCm is an open-source software stack designed for GPU computation.AMD will "broadly adopt" Claude across its engineering and product development teams, the companies said.Earlier this year, Anthropic expanded its partnership with existing backer Amazon, which said at the time it was investing another $5 billion in the Claude maker, with up to an additional $20 billion in the future. The AI company confidentially filed for an initial public offering in the US earlier in 2026.The Anthropic collaboration marks the latest deal for AMD, which earlier this week announced an expanded strategic partnership spanning its GPUs, central processing units, networking and software on Microsoft's (MSFT) Azure cloud-computing platform.AMD is scheduled to report its fiscal second-quarter results Aug. 4.Price: $554.43, Change: $+10.00, Percent Change: +1.84%

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Update: Amazon Lays Off Employees at Artificial General Intelligence Unit

(Updates with confirmation and additional details from the company.)Amazon.com (AMZN) is eliminating some roles within parts of its artificial general intelligence organization, a company spokesperson confirmed toWednesday in an emailed statement.Affected US employees will receive their pay and benefits for 90 days, outplacement job search support, access to transitional health benefits, and will be eligible for a severance payment, the spokesperson said.Despite the cuts, the company remains committed to investing in artificial intelligence, describing the layoffs as part of the company's efforts to prioritize the initiatives that are believed to have the greatest impact for its customers, according to The Wall Street Journal.The exact number of jobs affected was not provided.Price: $242.85, Change: $-4.70, Percent Change: -1.90%

Sectors11d ago

Sector Update: Tech Stocks Advance Wednesday Afternoon

Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.1%.The Philadelphia Semiconductor index climbed 1.2%.In corporate news, Qualcomm (QCOM) shares rose 1.9% after it said Wednesday that its Snapdragon chips will be used in Samsung's new smartphones, wearables, and intelligent eyewear.Amazon (AMZN) has cut jobs in parts of its artificial general intelligence organization, without disclosing the exact numbers of affected employees, The Wall Street Journal reported Wednesday. Separately, Amazon's Q2 revenue and core profitability will likely exceed Wall Street's expectations amid upside potential from Amazon Web Services, BofA Securities said Wednesday. Amazon shares were down 1.9%.Apple (AAPL) is planning a major update for its MacBooks and iMacs to capture demand for AI-capable devices, Bloomberg reported. Apple shares were shedding 1.2%.

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Nvidia's GB300 Chips Accessed by China's Moonshot to Train AI Model, White House Official Says

Nvidia's (NVDA) GB300 chips were accessed by Beijing-based artificial intelligence startup Moonshot likely to train its artificial intelligence models, according to Michael Kratsios, Director of the White House Office of Science and Technology Policy.Moonshot "acquired GB300-equipped servers and has accessed GB300s in Thailand, likely to train its AI models," Kratsios said Wednesday in a post on X.Kratsios further said that Moonshot distilled Amazon-backed (AMZN) Anthropic's Fable for the development of its K3 model by developing a sophisticated internal platform to conduct large scale distillation against US models, which allowed them to quickly switch between multiple methods of access to avoid detection.The White House, Nvidia and Anthropic did not immediately respond to' requests for comment.Price: $213.48, Change: $+6.19, Percent Change: +2.99%

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US Markets11d ago

Amazon Second-Quarter Revenue to Exceed Expectations on AWS Upside Potential, BofA Says

Amazon.com's (AMZN) second-quarter revenue and core profitability will likely exceed Wall Street's expectations amid upside potential from Amazon Web Services, BofA Securities said Wednesday.The brokerage raised the e-commerce giant's revenue estimate to $198.82 billion from $198.30 and moved its earnings before interest and taxes outlook to $24.15 billion from $23.93 billion. Both are ahead of the Street's estimates that BofA put at $196.8 billion and $23.6 billion, respectively.Amazon is scheduled to report second-quarter results on July 30. Shares of the company were down 1.5% in Wednesday trade, but have gained 5.6% so far this year.In April, Amazon said it expected second-quarter sales of $194 billion to $199 billion, representing year-over-year growth of 16% to 19%.BofA raised AWS revenue growth estimate to 33% from 31% amid Anthropic-related revenue and Amazon Bedrock demand tied to OpenAI models. Anthropic is an AWS customer, while OpenAI makes its models available on Bedrock."We remain constructive on AWS's improving (artificial intelligence) positioning," BofA analyst Justin Post said.Amazon could raise its full-year capital spending outlook to $210 billion as memory costs rise, Post said.Amazon's third-quarter revenue guidance is expected to "bracket" Wall Street consensus, as a drag from Prime Day timing on North American retail sales is offset by international growth and cloud performance, according to the BofA note.BofA raised its 2026 revenue and EPS estimates for Amazon to $830.66 billion and $15.81, respectively, from $828.56 billion and $8.98. The brokerage lifted Amazon's 2027 revenue forecast but trimmed EPS projections.BofA reiterated its buy rating on Amazon's stock, with a price target of $310.Price: $243.97, Change: $-3.58, Percent Change: -1.45%

Market Chatter: Amazon Lays Off Employees at its Artificial General Intelligence Unit

Amazon (AMZN) has cut jobs in parts of its artificial general intelligence organization, without disclosing the exact numbers of affected employees, The Wall Street Journal reported Wednesday.Amazon said that despite the cuts, it remains committed to investing in artificial intelligence, describing the layoffs as part of the company's efforts to prioritize the initiatives that are believed to have the greatest impact for its customers, according to the report.Amazon did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $243.69, Change: $-3.87, Percent Change: -1.56%

Amazon Seen Delivering Q2 Beat on AWS Strength, BofA Securities Says

Amazon.com (AMZN) is expected to report Q2 revenue and earnings before interest and taxes above Wall Street estimates, driven by AWS growth, while Q3 guidance is likely to bracket consensus due to Prime Day timing, BofA Securities said in a note Wednesday.The investment firm raised its Q2 revenue and EBIT estimates to $198.8 billion and $24.1 billion, respectively, above consensus, and increased its AWS revenue growth estimate to 33% from 31% on stronger demand from Anthropic workloads and OpenAI models on Amazon Bedrock. The company is scheduled to report its Q2 financial results on July 30.For Q3, BofA expects Amazon to forecast revenue at $200.5 billion to $205.5 billion and operating income range of $21.5 billion to $26.5 billion, with the outlook likely to bracket Street estimates due to the timing of Prime Day.Amazon could raise its 2026 capital expenditure outlook to about $210 billion on higher memory costs, with investors expected to focus on AWS growth, cloud backlog, AI adoption and returns on AI investments, according to the note.BofA maintained its buy rating on the stock, with a price target of $310.Amazon.com shares were down 1.4% in Wednesday trading.Price: $244.08, Change: $-3.47, Percent Change: -1.40%

Dow JonesNasdaq CompositeS&P 500$AMZN$DHR$GM$INTC$MMM$MU$NVDA$SNDK

US Markets12d ago

Update: Wall Street Snaps 3-Day Losing Streak in Tech-Led Bounce

(Updates with market moves at the end of the day.)US equities advanced Tuesday after a three-day slump, with chip stocks lifting the technology sector, even as oil prices rose amid heightened tensions in the Middle East.The Nasdaq Composite climbed 1.3% to 25,837.21, while the S&P 500 gained 0.9% to close at 7,509.20. The Dow Jones Industrial Average rose 0.7% to 52,224.64. Barring consumer staples and communication services, all sectors ended in the green, led by tech's 2.4% gain.Micron Technology (MU) was among the best performers on the S&P 500, up 12%, while Sandisk (SNDK) surged 14%, the index's top gainer. Intel (INTC) jumped 8.6%, while Nvidia (NVDA) rose 2%, among biggest gainers on the Dow."Stock traders today have shrugged off the news from the war in favor of buying the chip makers again, presumably on the hope that the (artificial intelligence) hyperscalers, when they report (second-quarter) earnings over the next few days, will also report large capital spending plans," Macquarie said Monday in a report. "That's hoped to boost the earnings outlooks for the hardware makers."West Texas Intermediate crude oil was up 2% at $84.91 a barrel in Tuesday late-afternoon trade, while Brent rose 2.5% to $91.44.The US will hit the area of Pickaxe Mountain "probably pretty soon," news outlets reported, citing President Donald Trump. The underground facility is reportedly believed to be connected to Iran's nuclear program.Kuwait, Bahrain and Jordan intercepted Iranian aerial attacks on Tuesday, CNN reported. The US Central Command said Monday its forces had struck Iran again.Two tankers carrying Saudi crude turned back in the Red Sea as Yemen's Iran-aligned Houthis threatened to strike vessels using Saudi ports, Reuters reported.Treasury yields were higher, with the two-year rate up 4.9 basis points at 4.26% and the 10-year rate rising 3.2 basis points to 4.63%.In corporate news, 3M (MMM) raised its full-year earnings outlook as the industrial conglomerate reported second-quarter results above Wall Street's estimates. The stock jumped 7.3%, the biggest gain on the Dow.General Motors (GM) lifted its full-year profit guidance as the automaker recorded an unexpected year-over-year increase in its second-quarter revenue. The stock rose 4.9%.Danaher (DHR) slid 11%, the worst performer on the S&P 500. The medical equipment maker raised its full-year profit guidance as its fiscal second-quarter results came in stronger than expected, but it lowered the top end of its 2026 revenue growth outlook.Gold advanced 1.8% to $4,088.40 per troy ounce, while silver climbed 3.5% to $59.05 per ounce.

Sectors12d ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.7% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.2%.The Philadelphia Semiconductor index gained 4.9%.In corporate news, Apple (AAPL) is planning to launch a new program on July 28 through which customers can lease devices, including most iPhone, Mac, iPad and Apple Watch models, Bloomberg reported. Apple shares rose 0.5%.Intel (INTC) is planning to lay off workers in its data center group, Business Insider reported Tuesday, citing a company spokesperson. Separately, RBC Capital Markets said in a note Intel is expected to report a decent Q2 supported by server CPU demand and pricing momentum. Intel shares jumped past 8%.Taiwan Semiconductor Manufacturing (TSM) plans to raise prices for both advanced and mature chip manufacturing by up to 10% beginning in 2027, Nikkei Asia reported. Taiwan Semiconductor shares climbed 5.3%.Amazon.com's (AMZN) platform that serves businesses and government entities reached $60 billion in annualized sales in the second quarter, the e-commerce giant said Tuesday. That's up from more than $35 billion in global annualized sales for Amazon Business in 2023. Amazon shares were down 1%.

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US Markets12d ago

Oil Jumps Amid Growing Middle East Tensions

Oil prices were higher Tuesday amid mounting tensions in the Middle East, with US President Donald Trump reportedly threatening to hit Iran's Pickaxe Mountain.West Texas Intermediate crude was up 2.6% at $84.61 a barrel in late-afternoon trade, while Brent rose 2.4% to $91.34.The US will hit the area of Pickaxe Mountain "probably pretty soon," news outlets reported, citing Trump. The underground facility is reportedly believed to be connected to Iran's nuclear program.Iran's Islamic Revolutionary Guard Corps has hit Amazon.com's (AMZN) data infrastructure in Bahrain "with several cruise missiles and destroyed it," CNBC reported Tuesday, citing a statement by Tehran's state media outlet Fars News Agency.Amazon didn't respond to' request for comment. The US e-commerce giant's shares were down 1% intraday.Kuwait, Bahrain and Jordan intercepted Iranian aerial attacks Tuesday, CNN reported. On Monday, the US Central Command said its forces had struck Iran again.Two tankers carrying Saudi crude turned back in the Red Sea as Yemen's Iran-aligned Houthis threatened to strike vessels using Saudi ports, news outlets reported Tuesday. The Houthis have threatened to close the Bab el-Mandeb Strait several times during the recent Middle East conflict. That strait is a choke point for commercial ship traffic that connects the Red Sea to the Gulf of Aden and global markets.The International Energy Agency warned that escalating regional hostilities and threats to the Bab el-Mandeb Strait are further compounding energy security risks."The escalation in hostilities affecting the Strait of Hormuz and energy infrastructure in the region increases security of supply concerns and uncertainty over the market outlook," IEA Executive Director Fatih Birol said in a statement Tuesday. "Threats to the Bab el-Mandeb Strait, which has become increasingly important as a route to bypass the Strait of Hormuz, exacerbate these concerns further."For now, oil markets continue to benefit from "several cushioning factors," Birol said.Crude prices plunged in May and June, but have rallied this month as tensions between the US and Iran intensified, with no signs of de-escalation.Price: $247.59, Change: $-2.41, Percent Change: -0.96%

Sectors12d ago

Sector Update: Tech Stocks Gain Tuesday Afternoon

Tech stocks were higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.8% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.1%.The Philadelphia Semiconductor index gained 5.4%.In corporate news, Intel (INTC) is planning to lay off workers in its data center group, Business Insider reported Tuesday, citing a company spokesperson. Separately, RBC Capital Markets said in a note Intel is expected to report a decent Q2 supported by server CPU demand and pricing momentum. Intel shares jumped 8.1%.Taiwan Semiconductor Manufacturing (TSM) plans to raise prices for both advanced and mature chip manufacturing by up to 10% beginning in 2027, Nikkei Asia reported. Taiwan Semiconductor shares climbed 5.4%.Amazon.com's (AMZN) platform that serves businesses and government entities reached $60 billion in annualized sales in the second quarter, the e-commerce giant said Tuesday. That's up from more than $35 billion in global annualized sales for Amazon Business in 2023. Amazon shares were down 0.6%.

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US Markets12d ago

Amazon Business Hits $60 Billion in Second-Quarter Annualized Sales

Amazon.com's (AMZN) platform that serves businesses and government entities reached $60 billion in annualized sales in the second quarter, the e-commerce giant said Tuesday.That's up from more than $35 billion in global annualized sales for Amazon Business in 2023.The portal added more than 1.8 million new customers in the first half of 2026, taking the overall number of global organizations it serves to 11 million, the company said Tuesday.The business, which was launched in the US in 2015, helps hospitals, schools, factories and hotels, among others, to purchase what they need for their operations, Amazon said."Organizations of all sizes trust Amazon Business for vast selection, everyday value, and fast, reliable delivery -- and that trust is reflected in our continued growth," Shelley Salomon, worldwide vice president of Amazon Business, said in a statement. "As organizations look to do more with less, we're inventing new ways to help them save time and money -- and reinvest in growing their business."Amazon's shares were down 0.8% in midday trading, although the stock has gained 7.4% so far this year.The business platform has expanded its global inventory by almost 30% this year, compared with the previous year. Its artificial intelligence-powered tools help businesses save money.In April, Amazon reported first-quarter sales of $181.52 billion, up from $155.67 billion last year. At the time, the company said it expected sales to come in between $194 billion and $199 billion for the second quarter. The current consensus on FactSet is for $196.71 billion.Price: $247.94, Change: $-2.05, Percent Change: -0.82%