Tag: E-Commerce Discretionary

The company, which provides tools to help businesses operate online stores, reported adjusted earnings per share of 49 cents for the September quarter, up from 34 cents a year before and ahead of the 47-cent FactSet consensus.

Amazon missed quarterly top- and bottom-line estimates, sending shares of the company down 7.5% premarket. The e-commerce and tech giant’s negative free cash flow also ballooned, amid elevated spending on artificial intelligence.

United Parcel Service raised its annual revenue and profit forecasts on Tuesday after beating quarterly earnings estimates, helped by higher-margin international air shipments and a reduction in lower-margin deliveries for Amazon.com.

ByteDance, Alibaba and Tencent have ordered more than 3 million of Nvidia’s new RTX PRO 5500 graphics cards with a collective sticker price of over $35 billion, two people familiar with the matter said, in a ​rush for a less powerful but export-compliant chip amid US restrictions on trade with China.

Amazon on Thursday unveiled two new Bee listening devices, including a wearable and a credit card-sized voice recorder, marking its latest push into the AI gadget market.

Alibaba Group Holding Ltd. on Tuesday unveiled the new generation of its smart glasses, deepening its foray into consumer electronics as an extension of its artificial intelligence strategy. 

Amazon is in talks to acquire AI startup Decart in ​a deal valued at around $7 billion, ‌the Wall Street Journal reported on Sunday, citing people familiar with the matter.

Amazon’s cloud computing division said on Friday it would invest more than $1 billion over the next five ​years in US communities where it has data centers and ‌vowed to tackle their impacts on electricity and water usage.

Shares of Shein Global Holdings Ltd. fell as much as 14% after the online fashion retailer reported a 53% plunge in first-half operating income in its inaugural earnings as a public company.

US e-commerce retailer Amazon will invest $3 billion to expand ​its India quick commerce business by 2030, two sources said, its biggest bet yet on a sector where rivals have raced ahead by ‌popularising deliveries within minutes.

U.S. power equipment maker Generac has signed a long-term agreement ​to supply backup generators for Amazon ‌data centers, with initial deliveries expected to total about $2.4 billion in 2027 ​and 2028, a regulatory filing ​showed on Wednesday.

Shares of fast-fashion company Shein fell as much as 10% in Hong Kong, amid news that one of its contact lens products has been recalled by Australia and New Zealand.

Amazon hired banks on Tuesday for its first ever sterling bond ​sale, according to a memo seen by Reuters, ‌as hyperscalers rush to raise funding across currencies to finance the AI boom.

Shares of Shein fell 9% in their Hong Kong trading debut Tuesday, after a tepid IPO that saw the fast-fashion giant’s valuation drop to nearly a quarter from its peak.

Shein is planning to raise up to $13.86 billion in Hong Kong dollars ($1.77 billion) in its initial public offering, according to a filing on Monday.

Alibaba shares plunged as much as 10% in Hong Kong on Monday after the Chinese tech giant priced an 80 billion Hong Kong dollar ($10.20 billion) placement of newly issued shares to non-U.S. investors. 

The Chinese owner of bargain-shopping app Temu reported better-than-expected profit in the second quarter, as the company navigated fierce domestic competition and increased regulatory pressure.

Alibaba shares dipped around 4% in U.S. premarket trading Thursday after the Chinese e-commerce and cloud giant reported second-quarter earnings well below analyst expectations.

Amazon said Wednesday it plans to offer drone deliveries in nearly 500 U.S. cities and towns by the end of the year, a sign of momentum for a project that’s been slow to develop since founder Jeff Bezos first laid out his vision for the service almost 13 years ago.

Online fast-fashion retailer Shein is eyeing ‌a company valuation in its planned Hong Kong IPO of just a quarter of the nearly $100 billion number seen in a share sale four years ago, sources said, as its growth has slowed.