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Stock impact report

Lower Energy Prices Another Tailwind for Amazon (AMZN); 5-Star Analyst Says ‘Buy’ [Yahoo! Finance News]

Amazon.com, Inc. (AMZN) 
Last amazon.com, inc. earnings: 4/30 04:01 pm Check Earnings Report
The global economy is already in the early throes of a recession, but business is booming at Amazon AMZNLloyd WalmsleyThe proof is in the pudding. While unemployment figures have risen dramatically since the viral outbreak has sent millions of workers home, Amazon has set in motion the hiring of an additional 100,000 employees to help with the surging demand. According to the NY Times, orders for Amazon groceries are 50 times higher than normal during this stay-at-home period.The news has prompted Walmsley to touch down with a “logistics consultant intimately familiar with Amazon's operations,” to gain insight on how the additional labor costs will impact the balance sheet. “We come away optimistic that near-term higher volumes on existing infrastructure and lower energy prices can help offset higher wages,” the 5-star analyst said.Furthermore, Amazon has increased the warehouse hourly wages for the period, from $15 to $17). This, along with overtime increasing from 1.5x to 2x regular Show less Read more
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