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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com, Inc.    AMZN


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Corporate America says it is ready to work with Biden

11/09/2020 | 04:48pm EST
FILE PHOTO: FILE PHOTO: FILE PHOTO: Statue of George Washington at Federal Hall across Wall Street from New York Stock Exchange in New York

WASHINGTON (Reuters) - Corporate America says it is ready to work with President-elect Joe Biden, hoping for quick action on a new round of COVID-19 relief and infrastructure spending.

Major business trade groups like the U.S. Chamber of Commerce and Business Roundtable quickly issued congratulating statements to Biden, even though President Donald Trump has refused to concede.

"The first order of business of the new Congress and the new administration is a broad-based infrastructure program" that would include money to ensure high-speed internet access for remote areas, U.S. Chamber of Commerce Chief Policy Officer Neil Bradley told reporters.

Trump often frustrated U.S. business leaders through erratic actions on trade or off-the-cuff calls to boycott or punish a long list of major companies that angered him.

In August, for example, Trump called for a boycott of Goodyear after the company barred some pro-Trump political attire.

To boost infrastructure spending dramatically, Biden has vowed to raise the U.S. corporate tax rate to 28% from the current 21% and to impose a minimum tax to ensure no U.S. corporation can avoid paying income taxes.

The National Association of Manufacturers said the election results, which included Biden's win and gains by House Republicans, show "the American people are not interested in extreme policies from either party; they are looking for smart, stable and solutions-oriented governance."

United Airlines Chief Executive Scott Kirby on Monday wrote Biden to congratulate him. "We are ready to work with leaders in Washington in support of our nation, our economy and our environment."

Executives from major tech firms, including Facebook, Microsoft and Amazon.com, also issued statements of support, as did Detroit's Big Three automakers.

"We share your vision of using science to control the virus, widening economic opportunities, achieving racial justice and combating the climate crisis," IBM Chief Executive Arvind Krishna wrote to Biden.

Amazon Chief Executive Jeff Bezos wrote via Instagram on Saturday that "Unity, empathy and decency are not characteristics of a bygone era," posting a photo of Biden and Vice President-elect Kamala Harris.

The National Mining Association, the trade group for U.S. mining companies, congratulated Biden, saying "working together we can increase the competitiveness of existing industries and reestablish and strengthen our domestic supply chains."

The U.S. Travel Association praised "President-elect Biden's objective of helping the industries most heavily impacted by the pandemic. The travel industry accounts for more than a third of overall U.S. unemployment, and policies to promote relief, recovery, and stimulus for travel businesses are integral to a U.S. economic turnaround."

(Reporting by David Shepardson; additional reporting by Ernest Scheyder; Editing by Dan Grebler)

By David Shepardson

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 0.05% 3294 Delayed Quote.1.14%
CISCO SYSTEMS, INC. 0.58% 45.03 Delayed Quote.0.04%
FACEBOOK INC 1.28% 278.01 Delayed Quote.1.78%
GOODYEAR TIRE & RUBBER COMPANY (THE) -2.45% 11.17 Delayed Quote.2.38%
MICROSOFT CORPORATION 1.58% 229.53 Delayed Quote.1.59%
UNITED CONTINENTAL HOLDINGS, INC. -4.18% 40.38 Delayed Quote.-6.64%
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Financials (USD)
Sales 2020 380 B - -
Net income 2020 18 146 M - -
Net cash 2020 44 304 M - -
P/E ratio 2020 94,7x
Yield 2020 -
Capitalization 1 653 B 1 653 B -
EV / Sales 2020 4,23x
EV / Sales 2021 3,53x
Nbr of Employees 798 000
Free-Float 81,7%
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | AMZN | US0231351067 | MarketScreener
Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 52
Average target price 3 840,89 $
Last Close Price 3 294,00 $
Spread / Highest target 36,6%
Spread / Average Target 16,6%
Spread / Lowest Target 6,25%
EPS Revisions
Managers and Directors
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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