Amazon Com Stock Price, News & Analysis

Amazon announced the expansion of its Global Disaster Relief Hub in Atlanta, increasing its capacity to store 1 million emergency relief supplies, doubling its previous operations. This initiative is aimed at enhancing the rapid response to natural disasters, supporting over 10 relief organizations. Since 2017, Amazon has delivered over 18 million items during 81 disasters worldwide. With the forecasted hurricane season expecting up to 21 named storms, Amazon is prepared to assist communities in urgent need.

Amazon has announced the launch of the next-generation Fire 7 and Fire 7 Kids tablets, enhancing their speed, performance, and value. The Fire 7 tablet now features a 30% faster processor and double the RAM, while offering 40% longer battery life for up to 10 hours. Priced at $59.99, it provides access to various streaming services and apps. The Fire 7 Kids, priced at $109.99, includes a one-year Amazon Kids+ subscription, a kid-proof case, and a two-year warranty, making it an ideal choice for families. Both products will ship starting June 29.

Simu Liu, famed for his role in Shang-Chi and The Legend of The Ten Rings, has received the IMDb 'Fan Favorite' STARmeter Award, honoring significant page views from over 200 million monthly IMDb users. This recognition coincides with Asian and Pacific Islander Heritage Month, during which IMDb showcases notable talent and projects in this community. Liu has reached the top 10 on the STARmeter chart several times and has been recognized for his work, including a People's Choice Award. He continues to engage audiences with upcoming projects and shares his inspiration as an Asian American actor.

IMDb has launched the What to Watch app exclusively for Fire TV customers in the U.S. The app features interactive mini-games that help users discover movie and TV series recommendations tailored to their moods. Key features include:

• Games like Quick Draw, Watch Challenge, and This or That for personalized suggestions.
• Integration of IMDb user ratings for informed viewing decisions.
• Customizable settings to prioritize titles from preferred streaming services.

This initiative enhances user experience by simplifying the title selection process.

Amazon has announced a $10.6 million investment to build and renovate over 130 affordable homes in Nashville, partnering with the Metropolitan Development and Housing Agency and CrossBridge Inc.. This initiative is part of the Amazon Housing Equity Fund, which has committed over $94 million to affordable housing in Nashville over the last two years. The funds will also support supportive services for individuals overcoming substance abuse. Amazon's commitment aims to create 20,000 affordable homes across various regions including Washington and Arlington.

Amazon has announced a new donation of $2.2 million to its Right Now Needs Fund, aimed at supporting underserved students in the Puget Sound region. Since its inception in 2018, Amazon has contributed over $8 million, aiding more than 55,000 requests for necessities like food, clothing, and school supplies across all schools in Seattle Public Schools and Bellevue School District. The latest donation will specifically benefit 106 schools in Seattle and 29 in Bellevue, addressing pressing needs for families facing financial hardships.

Seritage Growth Properties (SRG) announced that Amazon (AMZN) has signed a lease for 123,000 square feet at The Collection at UTC in La Jolla, California. This deal is expected to create over 700 corporate and tech jobs.

The Collection at UTC is 93% leased and includes 212,000 square feet of Class A office and retail space. This marks Seritage's largest office lease to date and is part of a broader vision to develop tech and life science hubs within their property portfolio.

Amazon plans to create over 2,500 corporate and technology jobs in California over the coming years, enhancing its Tech Hubs in San Diego, Santa Monica, and Irvine. The expansion aims to recruit local talent, following the creation of more than 17,000 jobs in 2021. New roles will focus on cloud infrastructure, Alexa, and gaming, with Amazon committing substantial investments to bolster California's economy.

Amazon.com, Inc. (NASDAQ: AMZN) reported Q1 2022 financial results, indicating a 41% decline in operating cash flow to $39.3 billion and a free cash flow outflow of $18.6 billion, compared to an inflow of $26.4 billion last year. Net sales rose 7% to $116.4 billion, with a 9% increase when adjusted for foreign exchange. However, operating income dropped to $3.7 billion, and a net loss of $3.8 billion was reported, largely due to a $7.6 billion valuation loss related to Rivian Automotive. CEO Andy Jassy emphasized ongoing improvements amid inflation and supply chain challenges.