- Amazon.Com, Inc (NASDAQ:AMZN) shares are trading lower Tuesday since it disclosed acquiring worldwide rights to IMAX’s original documentary The Blue Angels.
- Bad Robot, Glen Powell’s Barnstorm Productions, Zipper Bros Films, and Dolphin Entertainment, Inc (NASDAQ:DLPN) produced the project chronicling a year in the cockpit with one of the most exclusive aviator teams in the world, filmed with awe-inspiring IMAX cameras.
- A Monday report indicated Amazon launching a new unit to distribute its movies and TV shows to other media outlets besides its Prime Video streaming service.
- Amazon MGM Studios Distribution will make the programming available to rent or buy on other services and airplanes and also license the shows to foreign TV networks.
- The unit looks to tap the company’s library of 4,000 films and 17,000 TV episodes, including originals produced by its Amazon Studios division.
- Another report suggested that Amazon is offering customers $10 to pick up a purchase rather than have it shipped to a home address to slash costs for home delivery and returns amid slack consumer demand.
- Amazon reported first-quarter revenue of $127.4 billion, up 9% year-over-year. The revenue total came in ahead of a Street consensus estimate of $124.53 billion.
- The company reported earnings per share of 35 cents in the first quarter, beating a Street estimate of 21 cents.
- Price Action: AMZN shares traded higher by 0.02% at $105.85 on the last check Tuesday.
Fear & Greed Index Moves To ‘Greed’ Zone As Dow Jumps Over 300 Points
The CNN Money Fear and Greed index moved to the "Greed" zone on Monday.
The Dow Jones jumped more than 300 points during the session, as investors digested news of an oil output cut from the OPEC+.
OPEC+, a consortium comprising 22 oil-producing nations, announced Sunday coordinated production cuts that could aggregate to about 1.16 million barrels per day.
