Amazon CEO Blames 'Culture'
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Amazon shares soar
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Customers in select markets can return items weighing 1 to 15 pounds through doorstep return pickup handled by USPS.
U.S. stocks were rising Friday afternoon, as shares of Amazon surged following its quarterly earnings results. The Dow, S&P 500 and Nasdaq were on pace to wrap up October with monthly gains despite the government shutdown.
Amazon is implementing significant job cuts, impacting approximately 14,000 corporate employees, despite robust quarterly profits. Some employees learned of their fate through an impersonal text-message blast.
The market is finally remembering that Amazon is part of the Magnificent 7. Following a blowout earnings report, the stock climbed more than 14 percent after hours to surpass the year-to-date gains of Apple and Meta, leapfrogging both names for the first time in months.
The recalls range from children’s bed rails to mattresses and furniture that pose hazards such as fire risks and tip-over dangers.
This tiny house for sale on Amazon has a modular design that can accommodate up to four bedrooms and features a fully equipped kitchen perfect for hosting dinner parties.
"We're going to promote based on AI," said Amazon VP Jamie Simonoff. "We're going to promote based on how you're integrating AI into your job."
CNBC’s MacKenzie Sigalos reports on Amazon’s third-quarter earnings as investors zero in on cloud momentum and whether heavy AI infrastructure spending is starting to show returns.
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