Shares of Amazon dropped by the most in four years on Friday after its outlook for holiday season sales missed targets, fanning concerns that Wall Street’s tech darlings are finally starting to face stronger competition.
Shares of Amazon.com Inc fell 10 percent in trading before the bell on Friday after its sales outlook missed Wall Street targets, fanning concerns that the online retailer's expansion may finally be losing steam.
Amazon said on Tuesday it will increase hourly pay rates for warehouse workers in the U.S. and UK, but the UK’s GMB Union has voiced its concerns, saying the firm's simultaneous scrapping of bonuses will harm workers.
U.S. Senator Bernie Sanders provoked a rare political response from e-commerce giant Amazon following the politician's claims that the company underpays workers, thus failing to provide them with decent living standards.
Amazon.com Inc forecast strong fall sales and posted a profit that was double Wall Street targets on Thursday thanks to the retailer’s younger, higher-earning businesses, including cloud computing and advertising.