Today's Research Reports on Stocks to Watch: Amazon and Walmart
NEW YORK, NY / ACCESSWIRE / July 18, 2018 / Amazon soared to a new high on Tuesday on the successful completion of the company's annual Prime Day event. Shares of Walmart also saw gains as it was announced that the company may be working on a streaming video service that could rival Netflix and Amazon. It was also revealed that Walmart is partnering with Microsoft to take on Amazon as well.
RDI Initiates Coverage on:
Amazon.com, Inc.
https://rdinvesting.com/news/?ticker=AMZN
Walmart Inc.
https://rdinvesting.com/news/?ticker=WMT
Amazon.com, Inc. shares headed higher again to hit an all-time new high of $1,851.69 on Tuesday. CEO of the company, Jeff Bezos, is now the richest man in modern history. Despite some technical glitches, the retailer's Prime Day, which launched on Monday and will last for 36 hours, saw records broken yesterday. The company said that customers bought more on the second day of sales than any other in its history. According to Feedvisor, an analytics company that gathers intelligence for Amazon sellers, for the first 12 hours of the event, sales on Amazon were 80% higher than average, as measured by sales during the same 12-hour period last week. Over the first 12 hours of Prime Day, total cumulative orders were 69% higher than last year. Victor Rosenman, Feedvisor's CEO remarked on the technical glitches Amazon had faced and said, "The impact of the glitch was very minimal -- we saw about a 5% decrease in orders [compared to the same period last year], and it quickly corrected itself." It was on Monday that some users said they clicked on Prime Day deals and were returned with only images of dogs with an apologetic message. Amazon issued a statement and said, "It wasn't all a walk in the (dog) park, we had a ruff start -- we know some customers were temporarily unable to make purchases."
Access RDI's Amazon.com, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AMZN
Walmart Inc. shares closed up a modest 0.63% on nearly 6 million shares traded. The company made headlines yesterday after it was revealed that the retailer would be teaming up with Microsoft to take on Amazon. As part of the partnership, Walmart will be increasing its use of Microsoft cloud services. Microsoft CEO Satya Nadella had said in a Wall Street Journal interview, "How do we get more leverage as two organizations that have depth and breadth and investment to be able to outrun our respective competition?" Walmart said it is looking to "further accelerate Walmart's digital transformation in retail." It was also revealed that Walmart is reportedly launching a streaming video service that would take on both Netflix and Amazon. A report in The Information said that the retailer is considering the move. Sources say the subscription would be less than $8 a month and that Walmart is even considering a free version with ads.
Access RDI's Walmart Inc. Research Report at:
https://rdinvesting.com/news/?ticker=WMT
Our Actionable Research on Amazon.com, Inc. (NASDAQ: AMZN) and Walmart Inc. (NYSE: WMT) can be downloaded free of charge at Research Driven Investing.
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