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Is Amazon Going On A Shopping Spree?

Wednesday, 22 Jul 2009 | 6:03 PM ET

Is Amazon Going On A Shopping Spree?

Amazon said on Wednesday that it has reached a deal to buy online shoe and clothing retailer Zappos.com Inc for roughly $927.9 million, mostly in stock.

The deal is slated to close this autumn and Amazon said the Zappos management team will remain intact.

Stephen Ju, an analyst with RBC Capital, said the deal makes sense culturally as both Amazon and Zappos are very customer-service oriented.

With one takeover on the table, speculation is swirling that Amazon is looking at a second acquisition, too.

After Hours: AMZN
Amazon is up more than 70 percent ahead of earnings tomorrow, with the Fast Money crew.

There’s rumors they also want Netflix, reveals Patty Edwards of Storehouse. These guys are really smart. They’ve got the money and they want to get bigger. I wouldn’t be surprised to see more acquisitions.

What's the trade?

I think Netflix is a buy not only on the speculation but just for the fact that they’re killing the competition, says Edwards.


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Trader disclosure: On July 22nd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman's Firm Owns (MSFT), (PBG), (TYC), (YUM), (NOK), (WMT), (TGT); Finerman's Firm And Finerman Own (BAC) Preferred Shares, Finerman Owns (BAC); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (USO), (MCO); Seymour Owns (AAPL), (MSFT), (SBUX), (UNG); Grasso Owns (BAC); Terranova Owns (MCD), (QCOM), (AMZN), (AXP), (MSFT), (SUN), (FTO); Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)

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