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6 days ago
Eli Lilly Picks Amazon as Drug Delivery Partner
By: Schaeffer's Investment Research | March 13, 2024
• The partnership will allow the pharma giant to deliver drugs straight to consumers
• Options traders lean bullish toward LLY
Eli Lilly And Co (NYSE:LLY) today announced a new partnership with Amazon.com's (AMZN) pharmacy to deliver drugs ordered via its LillyDirect service, including weight loss medication Zepbound, straight to consumers. The stock is down 0.4% at $751.86 at last check, with today's update also weighing on Walgreens Boots Alliance (WBA), which last month lost its spot on the Dow Jones Industrial Average (DJIA) to AMZN.
The $720 level emerged as a floor for Eli Lilly stock after it hit a March 4, record high of $800.78, which contributed to its impressive 130.8% year-over-year lead. The 40-day moving average has also been acting as a consistent level of support so far this year.
Short-term options traders have been much more bullish than usual. This is per LLY's Schaeffer's put/call open interest ratio (SOIR) of 0.67 that sits higher than 5% of annual readings.
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DiscoverGold
2 weeks ago
Amazon (AMZN):
By: Carl Swenlin | March 1, 2024
Amazon (AMZN): AMZN suffered mightily during COVID, but it has had a magnificent rally for the last year. The most obvious problem is that it will run into strong resistance at the all-time highs of 2021, and at its current rate of climb, it will hit that resistance in just a few weeks.
Prognosis: Still magnificent, but due to run into long-term resistance.
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eastunder
4 weeks ago
Bezos Wraps Up 50 Million Amazon Stock Sale Netting $8.5 Billion
Spencer Soper
Tue, February 20, 2024 at 6:10 PM MST·1 min read
https://finance.yahoo.com/news/bezos-wraps-50-million-amazon-011046525.html
(Bloomberg) — Jeff Bezos unloaded 14 million Amazon.com Inc. shares worth about $2.4 billion, finishing in just nine trading days the plan he disclosed earlier this month to sell up to 50 million shares.
The latest transaction, which brings his cash out total to $8.5 billion, took place over three trading days ending Tuesday, according to a regulatory filing. Before his selling spree, the world’s third-richest person hadn’t disposed of company stock since 2021.
Bezos, who founded Amazon and owns space exploration company Blue Origin and the Washington Post, hasn’t disclosed plans for the proceeds. He announced on Nov. 2 he was moving to Miami from the Seattle region.
Washington state instituted a 7% capital gains tax in 2022 — something Florida doesn’t have — meaning Bezos’s relocation is likely saving him hundreds of millions of dollars in taxes.
Bezos has a net worth of $191.3 billion, according to the Bloomberg Billionaires Index.
Spokespeople for Amazon and Bezos didn’t immediately respond to requests for comment.
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4 weeks ago
Now we know why: Amazon Is Joining the Dow Jones Industrial Average
By: Barron's | February 20, 2024
Amazon.com will join the Dow Jones Industrial Average before the start of trading on Feb. 26, replacing Walgreens Boots Alliance in the first change in the 30-stock index since 2020.
In another change, Uber Technologies will replace JetBlue Airways in the Dow Jones Transportation Average on Feb. 26.
Amazon's entry into the Dow Jones Industrial Average was enabled by a 20-for-one stock split in 2022 that made its stock price sufficiently low for it to be included in the price-weighted index.
There has been speculation since the Amazon split that it would join the Dow industrials. The news came in a press release late Tuesday from S&P Dow Jones Indices, which oversees the Dow industrials.
Walgreens' exit isn't a surprise given the sharp drop in its stock price in recent years. That left it with little influence in the Dow industrials and the lowest market value by a wide margin — the company's market capitalization is under $20 billion.
Amazon shares are up 1.4% in after-hours trading to $169.44 after losing 1.4% in regular trading. Walgreens shares are off 3.2% in after-hours trading to $21.60 after gaining 1.5% in regular trading Tuesday.
There isn't a lot of index money tied to the Dow industrials, which has more popular recognition than interest from institutional investors.
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starman2
1 month ago
Amazon outsider alert ⚠️
Jeff Besos selling of shares will literally have no effect on Amazon stock.
MM's, Shorts, Bears, Fake Bulls, and complete idiots, are spreading so much FUD in the media, message boards, YouTube, podcasts, blogs, and wherever else you look for one reason and one reason only...
THEY WANT YOUR SHARES!!!
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1 month ago
Amazon (AMZN) Stock Hits 2-Year Highs After Earnings
By: Schaeffer's Investment Research | February 2, 2024
• Amazon.com reported better-than-expected fourth-quarter earnings
• The company will continue the accelerated growth of its cloud business
Amazon.com Inc (NASDAQ:AMZN) stock is gapping to two-year highs today, after the Big Tech giant's strong fourth-quarter results. A record-breaking holiday shopping season boosted profits in the last quarter, with help from generative artificial intelligence (AI) features in its cloud and e-commerce businesses, which the company hopes to continue to grow in 2024.
Amazon stock hit $171.31 at its peak today, last seen up 7% at $170.41. Should these gains hold, it will be the stock's best day since its 8.3% post-earnings jump in August 2023, though its 6.8% rise after earnings in October comes close. Headed for its fourth-straight weekly win, AMZN is up 50.7% over the past year.
No fewer than 20 analysts lifted their price targets in response to today's events, with the highest from Mizuho to $230 from $220. No upgrades so far, but the majority of analysts are already bullish, with 34 of the 40 in coverage carrying a "buy" or better rating.
Unsurprisingly, options traders are chiming in as well. So far, 517,000 calls and 253,000 puts have been exchanged, which is five times the overall volume typically seen at this point. Expiring today, the weekly 2/2 170-strike and 172.50-strike calls are the most popular, with new positions opening at the latter.
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