|Bid||1,745.26 x 1000|
|Ask||1,746.00 x 1400|
|Day's range||1,745.24 - 1,804.90|
|52-week range||1,307.00 - 2,050.50|
|Beta (3Y monthly)||1.58|
|PE ratio (TTM)||72.59|
|Earnings date||23 Oct 2019 - 28 Oct 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||2,261.27|
In response to China's retaliatory tariffs, President Trump tweeted he was "ordering" American companies to look for alternatives to China. The National Retail Federation says that's unrealistic.
(Bloomberg) -- Walmart Inc. isn’t the only corporation that has seen its Tesla Inc. solar panels catch fire.On Friday, Amazon.com Inc. said a June 2018 blaze on the roof of one of its warehouses in Redlands, California, involved a solar panel system that Tesla’s SolarCity division had installed. The Seattle-based retail giant said by email that it has since taken steps to protect its facilities and has no plans to install more Tesla systems.News of the Amazon fire comes just three days after Walmart dropped a bombshell lawsuit against Tesla, accusing it of shoddy panel installations that led to fires at more than a half-dozen stores. The claims threaten to further erode Tesla’s solar business at a time when the company is fighting to gain back market share.Walmart and Tesla issued a joint statement late Thursday, saying they were in discussions to resolve their issues. “Both companies want each and every system to operate reliably, efficiently, and safely,” they said.In the complaint filed Tuesday, Walmart said it had leased or licensed roof space at more than 240 stores to Tesla’s energy unit. Two of the Walmart fires occurred in May 2018. Amazon said it has a very small number of solar systems installed by Tesla.More widely known for its electric cars, Tesla bought panel installer SolarCity three years ago in a $2 billion deal that proved highly controversial. SolarCity’s chief executive officer at the time is the cousin of Tesla CEO Elon Musk, and Musk was the chairman of SolarCity’s board.Also this week, Business Insider reported that Tesla launched an effort to replace a faulty part used in some of its solar panel systems last year. It was unclear whether issues with the component known as a “connector” affected Walmart or Amazon installations.Tesla said in response to the Business Insider story that some connectors manufactured by Amphenol Corp. “experienced failures and disconnections at a higher rate than our standards allow.” Over the past year, the company said, less than 1% of sites with these connectors exhibited abnormal behavior.Amphenol did not respond to a request for comment.(Updates to include joint company statement in fourth paragraph)\--With assistance from Brian Eckhouse.To contact the reporters on this story: Dana Hull in San Francisco at firstname.lastname@example.org;Matt Day in Seattle at email@example.comTo contact the editors responsible for this story: Lynn Doan at firstname.lastname@example.org, Kara WetzelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Brazil's president has signed an order deploying the military to help protect the Amazon from wildfires, a state governor in the country has said. President Jair Bolsonaro had earlier suggested troops could be sent in to battle the fires in the face of a global outcry. Mr Bolsonaro's office also said he will reveal firefighting plans for the Amazon on Friday and they are already being implemented.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Emmanuel Macron has gone off script.It took the French president less than 24 hours to wrong foot his closest partners and toss a curve ball into the buildup to the Group of Seven summit. His fellow leaders hadn’t even landed. And all this when Macron was supposed to be shoring up the European alliance for another confrontation with Donald Trump.When the summit begins Saturday in the French beach resort of Biarritz, the European contingent is supposed to be holding the line over Brexit, pushing for tougher action on climate change and addressing the trade tensions threatening global growth without provoking the U.S. leader. Now they are going to be distracted by a rift between Macron and Germany’s Angela Merkel over how to tackle the environmental threat posed by Brazil.For Macron, for the European Union, and for the transatlantic relationship, the consequences could be far-reaching.Preparations for the summit began to unravel on Thursday evening as Biarritz was about to go into lockdown. The strip of sand that will provide the backdrop for the family photo was still crammed with bathers taking their last swim. Even Macron’s close advisers had no idea about the bombshell the president (who is not a regular tweeter like Trump) was about to drop.Alarmed by the record number of fires ravaging the Amazon jungle, Macron announced that the “emergency” would be a central focus of his summit, abandoning months of careful choreography that even involves France’s most celebrated chef preparing meat for Trump and vegetarian fare for special guest Narendra Modi.Problem was he didn’t seem to have let key players in on his decision. Within two hours, his call to arms was met with a furious response from Brazilian President Jair Bolsonaro, who accused Macron of colonial posturing. Affairs relating to Brazil should not be discussed without Brazil at the table, Bolsonaro said.Read more: The Amazon Rainforest Is on Fire, and It’s Getting WorseMacron’s critics on social media pointed out that he’d used an outdated picture of an older blaze.Officials in the G-7 clan were waking up to the news along with the rest of the world. Concern about the environment is something shared by many Europeans, and the sense from officials was that they were willing to accept having the burning of the rainforest thrust onto the agenda at the last moment.A slow drip of benign responses began to come in. A spokesman for the U.K.’s Boris Johnson said the British leader would echo his call for action on the Amazon. Merkel’s spokesman backed Macron’s decision to involve the international community, siding with him against Bolsonaro.Trump, meanwhile, exchanged attacks with Beijing over trade. Markets tumbled as the president said he’d “ordered” the U.S. to disengage from China. But rather than seeking to capitalize, the French leader upped the ante.Another ShockerMaybe he took offense at the colonialist jibe, maybe it was headlines from Brazilian officials bringing up forest fires in Portugal and Siberia. Whatever it was, Macron had another shocker up his sleeve.In a terse statement from the Elysee palace, he branded Bolsonaro a liar and vowed to block the EU’s trade deal with South America’s biggest economies unless Brazil takes its environmental obligations seriously.Tearing up a summit agenda is one thing. But this was a whole other order of magnitude.The EU’s trade accord with Mercosur has been 20 years in the making, will ease tariffs on some $90 billion of annual commerce, and was Europe’s biggest riposte to Trump’s assault on the multilateral trading order. Spanish Prime Minister Pedro Sanchez, invited to the summit as Macron’s special guest, is set to be one of the biggest winners from the deal and invested time and political capital to get it over the line just eight weeks ago. Sanchez had no warning the announcement was coming, according to an official.In The OpenThe public slapdown in the end came from Merkel.Her spokesman told Bloomberg that the chancellor doesn’t believe shooting down the trade deal will achieve Macron’s aim of slowing deforestation in Brazil and actually contains binding commitments on climate protection. She doesn’t think threatening to block the accord is an appropriate response to what is happening in Brazil, he added.After Macron’s political maneuvering over talks with Washington, Merkel had already concluded that she couldn’t rely on France when it comes to trade. Now their split is out in the open.Johnson is seeking to divide them over Brexit. Trump is cranking up the pressure on a host of issues from trade to Iran and economic policy.If they were looking for clues to how robust the EU’s essential alliance is ahead of their latest assault, Macron just handed it to them on a plate.To contact the reporters on this story: Arne Delfs in Biarritz, France at email@example.com;Helene Fouquet in Biarritz, France at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Sills at email@example.com, ;Flavia Krause-Jackson at firstname.lastname@example.org, Robert JamesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Amazon.com Inc. struck a deal that gives it the right to eventually buy a stake in India’s Future Retail Ltd., as the U.S. giant seeks to bolster its presence in one of the world’s fastest-growing retail markets.Amazon.Com NV Investment Holdings LLC agreed to buy 49% of Future Coupons Ltd., Future Retail said in a filing Thursday. The deal gives Amazon the option to buy all or part of Future Coupons’ shareholding in Future Retail, though that won’t be exercisable until between three and 10 years.The terms of the agreement weren’t disclosed. The Indian company said earlier this month that Future Coupons held warrants that would give it a 7.3% stake in the listed entity.People familiar with the matter said last week that Amazon was in late-stage talks to acquire as much as 10% of Future Retail, with the Indian company seeking a valuation of about 20 billion rupees ($278 million) for the stake.“Amazon has agreed to invest in Future Coupons Limited, which is engaged in developing innovative value-added payment products and solutions such as corporate gift cards, loyalty cards, and reward cards primarily for corporate and institutional customers,” the Seattle-based company said in an emailed response to Bloomberg. “This investment will enhance Amazon’s existing portfolio of investments in the payments landscape in India.”Shares of Future Retail fell 4.6% in Mumbai on Friday while the main S&P BSE Sensex index gained.Amazon’s AmbitionsThe link-up with India’s No. 2 retailer by revenue underscores Amazon’s ambitions in the country, after losing ground in China. India’s modern retail market will more than double to $188 billion by 2023 from $79 billion last year, according to consultant Technopak Advisors.Amazon is in a battle for India’s consumers with rival Walmart Inc., which spent $16 billion last year to acquire e-tailer Flipkart, and the e-commerce venture of Mukesh Ambani, Asia’s richest man, that plans to combine online and offline retail formats in India.Amazon has been acquiring small stakes in other Indian brick-and-mortar chains in the past few years, such as Shoppers Stop Ltd. and a grocery chain from the Aditya Birla Group.Mumbai-based Future Retail operates more than 2,000 stores across 400 Indian cities, including the “Big Bazaar” stores that are designed to appeal to value-conscious urban consumers.The deal with Amazon will help the Indian retailer adapt better in the highly competitive sector, local brokerage Edelweiss Securities Ltd. said in a note on Friday.“Players opting for omni-channel platform will ace the game,” Edelweiss said, adding that it was essential for Future Retail “to join hands with a global player to bolster it financially as well as technologically.”(Adds Amazon response)\--With assistance from P R Sanjai and Saritha Rai.To contact the reporter on this story: Angus Whitley in Sydney at email@example.comTo contact the editors responsible for this story: Young-Sam Cho at firstname.lastname@example.org, Jeff Sutherland, Bhuma ShrivastavaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CIRP estimates that Amazon Prime members spend $1,400 per year on Amazon’s e-commerce platform—much higher than non-Prime members' $600 annual spending.
Amazon (AMZN) is all set to acquire a 49% stake in Future Coupons, a Future Group entity. The deal will give Amazon an indirect stake in Future Retail.
Amazon (AMZN) agrees to acquire 49% stake in Future Coupons, through which it will be entitled to snap up a minority share in Future Retail.
(Bloomberg Opinion) -- French President Emmanuel Macron dropped a bombshell on Friday: His office said France is opposed to the ratification of the European Union’s latest big trade deal, with the Mercosur group of South American countries, because one of the group’s members, Brazil, has shown a lack of commitment to preserving the Amazon rain forest.The deal, reached in June by the European Commission after 20 years of negotiations, still needs to be approved by each EU member state and the European Parliament. It’s a key part of the legacy of the outgoing commission, headed by Jean-Claude Juncker, the biggest deal the EU has ever struck in terms of tariffs eliminated (4 billion euros, or $4.4 billion, a year), the first major trade agreement struck by Mercosur since it was formed in 1991. It also sends a political message to a world rocked by U.S. President Donald Trump’s trade war with China: That the EU is still the major force behind free trade. But, if all of this is weighed against out-of-control deforestation in the Amazon, Macron is right and the agreement needs to be revised in a few specific ways that would make it work for, not against, climate goals.Macron is outraged about Brazilian President Jair Bolsonaro’s contemptuous attitude toward rain forest conservation, thrust into focus by reports of wildfires raging in the Amazon as deforestation has accelerated under Bolsonaro and the country’s environmental agencies have become markedly less active in trying to safeguard the jungle from illegal logging. The far-right Brazilian leader has made no secret of prioritizing agriculture over forest protection. His policies have led Germany to suspend the funding of conservation projects in Brazil; in response, Bolsonaro told German Chancellor Angela Merkel to “take your dough and reforest Germany, OK?”That makes Merkel Macron’s potential ally in blocking the Mercosur deal as it stands. The increasingly powerful Greens are the strongest rivals of Merkel’s Christian Democratic Union party (and also potential coalition partners), and though the chancellor is strongly pro-trade, the optics of pushing for the deal’s approval now would be politically unfavorable.The deal has other potential opponents, too. Irish Prime Minister Leo Varadkar has threatened to nix it because of Bolsonaro’s attitude – and in any case, he’d rather not allow cheap Brazilian beef on the European market, where it’ll be a threat to Irish farmers.Even though European officials have defended the deal, saying it already imposed a commitment on the South Americans to follow their climate goals laid out in the 2016 Paris agreement and to avoid deforestation, it has been shown that more openness to trade increases deforestation rates in Brazil. So it’s appropriate for Macron and other European leaders to reconsider the Mercosur trade agreement in response to Bolsonaro’s behavior.There’s no need, however, to bury the deal altogether. There is a way to revise it so that it’s still beneficial for the parties without hurting the Amazon.In 2017, the U.S. Department of Agriculture put out a report on international trade and deforestation. The main idea of the study behind it was to figure out which products are the most deleterious to forests in different countries. In Mercosur members Brazil and Argentina, according to the report, beef and soybeans contribute the most to deforestation. As things stand, the deal’s sustainability chapter relies on private initiatives to limit these commodities’ impact; it mentions the so-called soy moratorium in Brazil – a voluntary pledge not to buy soy grown on recently deforested land in the Amazon (which led to increased deforestation in Brazil’s savanna, not covered by the moratorium). But under Bolsonaro, such initiatives aren’t likely to be effective.The final edition of the trade deal should explicitly link trade quotas on forest-risk commodities, such as beef and soybeans, to keeping the forested area constant or even increasing it. It also should set up a reliable monitoring mechanism: Earlier this month, the head of the Brazilian institute that tracks deforestation was fired after Bolsonara called the institute’s data “lies.”“You have to understand that the Amazon is Brazil’s, not yours," Bolsonaro told European journalists last month. Well, he needs to understand that the European market is the EU’s to regulate as it sees fit. Increased sales to this lucrative market should only be possible against firm environmental guarantees. And if the Mercosur deal could wait for 20 years, it can certain wait some more while this matter is cleared up.To contact the author of this story: Leonid Bershidsky at email@example.comTo contact the editor responsible for this story: Philip Gray at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Leonid Bershidsky is Bloomberg Opinion's Europe columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Cargojet Inc. soared to a record high after Amazon.com Inc. signed a deal that would allow the online retailer to buy a stake in the Canadian cargo carrier.Under the agreement, Mississauga, Ontario-based Cargojet will issue warrants to Amazon in two tranches to purchase variable voting shares that will vest based on the achievement of certain commercial milestones.“Cargojet has been a key player in our Canadian middle mile operations for several years,” said Adam Baker, vice president global transportation at Amazon, in a statement. “We’re thrilled to build a longer-term relationship that will allow us to provide even faster service to Amazon customers in Canada.”Cargojet surged as much as 20%, the biggest climb since February 2014. The first tranch will allow Amazon to buy up to 9.9% of Cargojet’s shares at an exercise price of C$91.78 each, a discount to the C$106 price in Toronto after the gain Friday. This will vest over 6.5 years, tied to the delivery by Amazon of up to C$400 million ($300 million) in business volumes to Cargojet over that time.The second tranch for an additional 5% of Cargojet’s shares has a vesting tied to the delivery by Amazon of up to C$200 million in additional business after the first tranche of warrants is fully vested. The exercise price of this tranch will be set two years after the date of the agreement.Cargojet said the agreement will generate additional revenue growth and be meaningfully accretive to earnings and cash flows over time. Its shares have climbed 28% this year, compared with a 13% gain for the S&P/TSX Composite Index.CIBC Capital Markets advised Cargojet on the deal.(Updates story with share price move in first and fourth paragraphs.)\--With assistance from Divya Balji.To contact the reporter on this story: Paula Sambo in Toronto at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, David Scanlan, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares in Peppa Pig and PJ Masks-owner Entertainment One rose almost 39% to a record high on Friday, surpassing the $4 billion price tag agreed with U.S. toy maker Hasbro, in a sign that investors see a chance of a counter offer. The deal agreed by the Nerf and Power Rangers-maker was four times the 1 billion-pound ($1.22 billion) takeover offer which eOne rejected from UK commercial broadcaster ITV in 2016 as undervaluing the company.
Brazilian President Jair Bolsonaro has said his government lacks the resources to fight wildfires devastating the Amazon rainforest. Speaking to reporters on Thursday, he said Brazil was in "chaos" and that his government could only send "40 men" to fight the extensive fires. Mr Bolsonaro also denied accusing environmental groups of starting the fires, saying he was merely airing his suspicions when he spoke previously on the issue.
MUMBAI/BENGALURU (Reuters) - Amazon.com Inc is set to snag a 3.58% minority stake in India's Future Retail, which operates more than 1,500 stores in India and owns several supermarket brands, including budget department and grocery store chain, Big Bazaar. Future Retail said in a regulatory filing late on Thursday that Amazon has agreed to acquire a 49% stake in Future Coupons Ltd. That entity in turn owns a 7.3% interest in Future Retail, according to prior filings.
MUMBAI/BENGALURU (Reuters) - Amazon.com Inc is set to snag a 3.58% minority stake in India's Future Retail, which operates more than 1,500 stores in India and owns several supermarket brands, including budget department and grocery store chain, Big Bazaar. Future Retail said in a regulatory filing late on Thursday that Amazon has agreed to acquire a 49% stake in Future Coupons Ltd. That entity in turn owns a 7.3% interest in Future Retail, according to prior filings. The companies did not disclose the value of the deal, which gives Amazon a stake in one of India's biggest retail chains, whose stores sell everything from clothes to fresh produce.