Our call of the day, from analysts at Piper Jaffray takes a holiday from the trade headlines to make a prediction about Amazon shares. They say get ready for...
Investors are getting a break from a string of bad news on the trade front, as some glass-half-full headlines trickle through, boosting global equities at the week's end.
We’re talking about e-commerce giant Amazon AMZN, -2.38% whose shares have gotten a little wrecked this month as a consequence of the general equity pullback over the trade tensions. But it has still managed to claw back much of the ground lost from December. Olson and Kim also think Amazon can get to this $3,000 level without making any other acquisitions or big business changes, though they say a spinoff of the group’s Amazon Web Services cloud platform would only help to highlight that its other segments aren’t being valued enough.
But as well, that investing savant Buffett will once again look like the smartest guy in the room. The chairman of Berkshire Hathaway BRK.A, -0.06% BRK.B, -0.64% said earlier this month that the company had been buying shares of Amazon and he had been a fan of the company, and “an idiot for not buying” in the past.The market The Dow YMM19, +0.54% S&P 500 ESM19, +0.54% and Nasdaq NQM19, +0.41% are jumping higher after losses of more than 1% for stocks on Thursday.
“The escalation itself, and the uncertainty over what will happen next in the trade dispute, has weighed heavily on metals prices, driving them down noticeably. Measured against the LME base metals index, they have shed all the gains they had accrued since the beginning of the year,” said analysts at Commerzbank, in a note clients.
Shares of Foot Locker FL, -2.53% are dropping after the sporting-goods retailer results fell short of analyst expectations.
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