These are the stocks posting the largest moves before the bell.Market Insiderread more
Morgan Stanley caused a stir with its "bear case" scenario of $10. Now, Citi is getting in on the act.Investingread more
Qualcomm unlawfully suppressed competition in the market for cellphone chips and used its dominant position to impose excessive licensing fees, a U.S. judged ruled.Technologyread more
Target's e-commerce sales also surged 42%, as shoppers increasingly turned to its curbside pickup service for online orders, something Amazon can't offer.Retailread more
Department stores are being hung out to dry as Kohl's shares fall after earnings, but some experts still see opportunity in the space.Trading Nationread more
Homeowners are taking advantage of lower interest rates, rushing to refinance their mortgages before rates potentially turn higher again.Real Estateread more
The U.S. Justice Department's Antitrust Division staff has recommended the agency sue to block T-Mobile US's $26 billion acquisition of smaller rival Sprint, according to two...Technologyread more
Here are the biggest calls on Wall Street on WednesdayInvestingread more
Lowe's shares plummeted 8% before the bell Wednesday after the company posted mixed fiscal first-quarter results and cut its forecast for the year, as higher costs weighed on...Retailread more
It may be years from visiting your neighborhood, but a walking robot is part of Ford's vision for how its autonomous vehicles will deliver packages.Autosread more
Brazilian makeup brand Natura Cosmeticos agreed to buy Avon Products, according to two media reports early on Wednesday.Retailread more
In the letter, Bezos compared the growth in merchandise sales of third-party sellers between Amazon and eBay from 1999 to 2018. His comparison showed that Amazon has clearly outperformed its rival.
"Third-party sales have grown from $0.1 billion to $160 billion — a compound annual growth rate of 52%. To provide an external benchmark, eBay's gross merchandise sales in that period have grown at a compound rate of 20%, from $2.8 billion to $95 billion," said Bezos.
EBay's shares slid to $36.00 on Thursday afternoon. Its market cap was $32.94 billion.
Bezos cited the Fulfillment by Amazon and Prime memberships as the company's two "very best selling tools" to secure Amazon's success with third-party sellers over rivals such as eBay.
"We invested in both of these programs at significant financial risk and after much internal debate," Bezos said in the letter. "We could not foresee with certainty what those programs would eventually look like, let alone whether they would succeed, but they were pushed forward with intuition and heart, and nourished with optimism."
In response, eBay CEO Devin Wenig took to Twitter to defend the company.
"While I appreciate the ink dedicated to from the ceo of the company not focused on competition, think I "ll dedicate my letter to customers, purpose and strategy. We don't compete with our sellers. We don't bundle endless services to create barriers to competition."
Bezos also challenged rival retailers to match Amazon's minimum wage of $15 per hour. Bezos did not call out competitors by name, but it prompted a response from Walmart's executive vice president of corporate affairs, Dan Bartlett, who challenged Amazon to pay more taxes.