FedEx stock dropped after Amazon unveiled a new logistics offering that could compete directly with the shipping giant’s core business.
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FedEx stock dropped after Amazon unveiled a new logistics offering that could compete directly with the shipping giant’s core business.
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The new service, called Amazon Supply Chain Services, pits the e-commerce giant directly against UPS and FedEx.
Investing.com -- First-quarter earnings have come in “exceptionally strong,” providing the primary fuel behind the U.S. stock market's recent rally even as elevated energy prices and geopolitical uncertainty cloud the outlook, according to Goldman Sachs.
Shares of eBay are soaring before the opening bell Monday as Ryan Cohen's GameStop pursues an approximately $56 billion takeover of company, seeing it as a vehicle to compete with online retail giant Amazon. One proposal includes live sales broadcasts from GameStop locations featuring eBay products. “EBay has the second largest commerce franchise and there’s a big opportunity to do something much larger,” Cohen said in a CNBC interview Monday.
Amazon.com said on Monday it was rolling out "Amazon Supply Chain Services", opening up its logistics network for other businesses to use. The company said businesses of all types and sizes can now move, store and deliver everything from raw materials to final products using Amazon's own supply-chain network.
The e-commerce giant is opening its global logistics network to all businesses, betting it can turn its supply chain into the next AWS.
Investors are bidding up eBay shares. That's after GameStop CEO Ryan Cohen told The Wall Street Journal that he had made an unsolicited offer to buy the e-commerce platform, and that he saw a path to make it a much bigger competitor to Amazon.
Amazon-backed Anthropic (AMZN) is close to setting up a joint venture with Blackstone (BX), Goldman
Cohen said GameStop has built a roughly 5% stake in eBay and was offering $125 a share in cash and stock, a roughly 20% premium to its closing price on Friday.

GameStop said on Sunday that it has proposed to buy all common shares of eBay Inc for about $56 billion. CEO Ryan Cohen, GameStop's largest investor, said the offer price is $125 a share in a 50-50 mix of cash and stock. Based on eBay's Friday close, the bid represents a premium of about 20%.
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