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Amazon’s sales jump 37% in the fiscal third quarter
Amazon’s sales jump 37% in the fiscal third quarter. The retail giant now employs 1.12 million full-time workers worldwide. Amazon forecasts up to £93.76 billion of revenue for Q4. Amazon Inc. (NASDAQ: AMZN) said on Thursday that its revenue in the fiscal third quarter came in 37% higher on an annualised basis. Profit in the recent quarter, the company added, was also better than expected. Amazon was reported close to 2% down in after-hours trading on Thursday. On a year to date basis, shares of the company are now more than 65% up after a nearly 100% growth since its year to date low in March. Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today. Amazon’s Q3 financial results versus analysts’ estimates According to Refinitiv, experts had forecast the company to print £71.83 billion of revenue in the third quarter. For earnings per share, they had estimated £5.74. In its report on Thursday, Amazon topped both estimates posting a higher £74.51 billion of revenue in Q3 and £9.59 of earnings per share. The retail giant said it now employs 1.12 million full-time workers worldwide that represents a 50% increase on a
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Renewed Selling Pressure Predicted For Taiwan Bourse
(RTTNews) - The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gathered more than 50 points or 0.4 percent. The Taiwan Stock Exchange now rests just beneath the 12,910-point plateau although it figures to head south again on Tuesday.
The global forecast for the Asian markets is broadly negative thanks to a renewed surge in coronavirus cases and lockdown measures around the globe. The European and U.S. markets were sharply lower and the Asian markets are tipped to open in similar fashion.
The TSE finished slightly higher on Monday following gains from the financials and mixed performances from the technology and cement stocks.
For the day, the index rose 10.21 points or 0.08 percent to finish at 12,909.03 after trading between 12,894.18 and 12,971.58.
Among the actives, Cathay Financial advanced 0.91 percent, while Mega Financial rose 0.18 percent, CTBC Financial collected 0.55 percent, Fubon Financial jumped 0.72 percent, First Financial was up 0.49 percent, E Sun Financial climbed 0.81 percent, Taiwan Semiconductor Manufacturing Company shed 0.44 percent, United Microelectronics Corporation added 0.76 percent, Hon Hai Precision lost 0.62 percent, Largan Precision increased 0.47 percent, Catcher Technology tanked 2.41 percent, MediaTek fell 0.59 percent, Formosa Plastic gained 0.50 percent, Asia Cement perked 0.36 percent and Taiwan Cement lost 0.37 percent.
The lead from Wall Street is bleak as stocks opened firmly lower on Monday and saw the losses accelerate as the day progressed - extending last week's losses.
The Dow plummeted 649.93 points or 2.29 percent to finish at 27,685.64, while the NASDAQ dropped 189.34 points or 1.64 percent to end at 11,358.94 and the S&P 500 sank 64.42 points or 1.86 percent to close at 3,400.97.
The sell-off on Wall Street comes amid concerns about a record resurgence in coronavirus cases, while White House officials say the pandemic can't be controlled and the administration would instead focus on vaccines and therapeutics.
The spike in new coronavirus cases comes as lawmakers in Washington remain at an impasse over a new stimulus bill. Negotiations continue, but traders appear pessimistic that an agreement on a new relief package will be reached before next week's elections.
Adding to the negative sentiment, the Commerce Department reported an unexpected slump in new home sales last month.
Crude oil prices moved lower in response to the bad news, with West Texas Intermediate sinking $1.17 or 2.94 percent to $38.55.
Turkish leader backs boycott of French goods over cartoon row
PARIS/ANKARA (REUTERS) - Turkish leader Tayyip Erdogan asked his compatriots to stop buying French goods on Monday (Oct 26) in the latest expression of anger in the Muslim world over images being displayed in France of the Prophet Mohammad, which some Muslims consider blasphemous. France is not planning a reciprocal boycott against Turkish products and will continue talks and relations with Turkey and its president, Trade Minister Franck Riester said on Monday. "There is no retaliation on the agenda," Riester told RTL radio. He nevertheless reiterated the government's condemnation of Turkish President Tayyip Erdogan's recent comments about President Emmanuel Macron and his treatment of Muslims in France. In Bangladesh on Monday, protesters unfurled placards with a caricature of French President Emmanuel Macron and the words:"Macron is the enemy of peace", while Pakistan summoned France's ambassador in Islamabad to issue a protest. Erdogan, who has a history of fraught relations with Macron, said France was pursuing an anti-Islam agenda. "I am calling to all my citizens from here to never help French brands or buy them," Erdogan said. In Turkey, French autos are among the highest selling cars, and French-Turkish bilateral
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