Something unusual is happening in financial markets and it could mean more gains lie ahead for stocks, if history is any indication.Marketsread more
Underneath the impressive market rally is a trend that doesn't seem quite right, according to J.P. Morgan.Marketsread more
See which stocks are posting big moves after the bell on June 26.Market Insiderread more
Ten 2020 Democratic presidential candidates will take the debate stage Wednesday at the Adrienne Arsht Center for the Performing Arts in Miami.2020 Electionsread more
Credit Suisse initiated coverage of Tesla Wednesday with an "underperform" rating and a price target 15% below where the stock closed.Marketsread more
Tesla is working on new battery cell designs, and a way to make their own cells, with R&D teams in a lab near its car plant in Fremont, California.Technologyread more
These attacks have given the public the opportunity to examine the problems associated with ransomware, where corporations -- not obligated to disclose these attacks -- have...Technologyread more
Online home goods retailer Wayfair sold roughly 1,600 mattresses and 100 bunk beds to Baptist Child and Family Services, a nonprofit that works as a federal contractor...Retailread more
HPV infections declined substantially since a vaccine was introduced, providing 'strong evidence' the vaccine prevents cervical cancer in the real world, according to a World...Health and Scienceread more
"As a private company we don't have the tools to make the Russian government stop," Facebook CEO Mark Zuckerberg said at the Aspen Ideas Conference on Wednesday. "We can...Technologyread more
Bitcoin jumped to its highest price since January 2018 on Wednesday.Bitcoinread more
Citi Research reiterated its buy rating for Amazon shares, predicting strong growth for its internet advertising business.
"Amazon is one of the highest quality companies in the Internet sector considering its consistent innovation and execution, the size of the opportunities it is pursuing, and its positioning within those future growth opportunities," analyst Mark May wrote in a note to clients Monday. "Amazon is currently our top pick in part due to the ad opportunity still being under-appreciated."
May increased his price target for Amazon shares to $1,600 from $1,400, representing 14 percent upside to Friday's close.
The analyst noted while Google and Facebook combined have nearly 70 percent share of the U.S. digital ad market, he is optimistic Amazon will be able to leverage its e-commerce retail operations to grow its ad business.
"Amazon has some obvious potential advantages over Google and Facebook. For instance, unlike any other platform — even Google and Facebook — Amazon combines global audience scale and engagement with actual conversion and transactional data," he wrote. "Any new meaningful competitor could take share from an already concentrated market — especially as advertisers and agencies are increasingly interested in diversifying their spend beyond the two goliaths."
May predicts Amazon's ad business sales will grow to $50.6 billion by 2028 from $10.2 billion this year.
Amazon shares are up 68 percent in the previous 12 months through Friday versus the S&P 500's 25 percent gain.
The company's shares are up 0.4 percent in Monday's premarket session after the report. Amazon will report its fourth-quarter earnings results on Thursday.