Amazon is on a hiring spree in China, exclusive data shows: Morning Brief
Thursday, June 13, 2019
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WHAT TO WATCH
Online pet-products retailer Chewy is bringing more heat to the IPO market.
The Dania Beach, Florida–company raised its IPO pricing range Wednesday, and now expects shares to price between $19 to $21 per share, up from the previous $17 to $19 per share range. At the high end of the new range, Chewy would be valued at about $8.4 billion.
Chewy is expected to price its IPO shares this evening and start trading Friday morning on the New York Stock Exchange under the ticker “CHWY.”
Meanwhile, chipmaker Broadcom (AVGO) is scheduled to release quarterly results after the bell. Analysts polled by Bloomberg are expecting the company to report adjusted earnings of $5.15 per share on $5.67 billion of revenue.
TOP NEWS
Amazon is on a hiring spree in China, exclusive data shows: The trade war between the U.S. and China is raging on, and it has threatened many American companies and their businesses in China. But Amazon (AMZN) is actually ramping things up in the world’s second largest economy, according to data from Thinknum, a company that surfaces alternative data culled from the web. [Yahoo Finance]
Also: The new UK cities where Amazon will deliver Morrisons groceries [Yahoo Finance UK]
U.S. budget gap balloons to $739 billion: The U.S. budget deficit widened to $738.6 billion in the first eight months of the fiscal year, a $206 billion increase from a year earlier, despite a revenue boost from President Donald Trump’s tariffs on imported merchandise. The shortfall was 38.8% more than the same period a year ago, the Treasury Department said in its monthly budget review released on Wednesday. [Bloomberg]
Facebook denies report that Mark Zuckerberg knew of privacy issues: New emails found by Facebook (FB) may implicate CEO Mark Zuckerberg in several of the privacy controversies that have battered the social network, The Wall Street Journal reported on Wednesday — something that the company has denied. [Yahoo Finance]
Walmart reshuffles executive ranks at Jet.com: Walmart (WMT) U.S. e-commerce CEO — and Jet.com founder — Marc Lore said Wednesday in a blog post it will merge the remainder of Jet’s employees with Walmart. That means Jet.com people across retail, marketing, technology, analytics and product will also take on responsibilities related to operating Walmart’s web business. [Yahoo Finance]
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