The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
A federal judge in California has blocked President Donald Trump from building sections of his long-sought border wall with money secured under his declaration of a national...Politicsread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
The race is underway to find a vaccine that can control African swine fever, a highly contagious and deadly viral infection ravaging China's hog population. There is currently...Agricultureread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
These sales could give the company a chance to beat its own outlook for the holiday season, which disappointed investors after its last earnings report. But investors will still have to wait for Amazon's fourth-quarter earnings to understand the impact of these sales since the company did not disclose the amount of revenue generated this season.
Amazon's stock ended the day up 9.5 percent Wednesday.
Amazon had projected stagnant to minimal growth in operating income compared with the same time last year, which sent its stock plunging 10 percent when it reported its third-quarter earnings. It projected $2.1 billion to $3.6 billion in operating income for the fourth quarter of 2018, falling short of analyst expectations of $3.9 billion. During the same quarter in 2017, Amazon said it made $2.1 billion.
Amazon said tens of millions of people signed up this season for free trials or paid memberships for Amazon Prime. The company said it sold millions more of its own devices, like the Echo Dot and Fire TV Stick 4K, compared with last year. Amazon said it also sold a record number of smart home devices including the Amazon Smart Plug, Ring Video Doorbell 2 and the iRobot Roomba 690.
Customers seem to be growing more comfortable ordering with Amazon's voice assistant, Alexa, with the company saying people used it for shopping three times as much as last year. Amazon's Alexa was the most popular app in the U.S. on Apple's App store Wednesday, meaning lots of devices were likely activated on Christmas Day.
Amazon famously declines to disclose specific sales or Prime subscription data when it boasts about sales during peak shopping times like Black Friday and Amazon Prime Day. The Wall Street Journal reported last week that the Securities and Exchange Commission has asked Amazon to start disclosing how much revenue it books from Prime subscribers, but Amazon has resisted, saying those figures aren't essential.