With sales up 43 percent and earnings per share nearly tripling analyst estimates, Amazon.com released quarterly results today that sent its stock soaring after hours.
In addition, the company announced a 20% price increase in its annual Amazon Prime fee, from $99 to $119, beginning May 11.
Why it matters: Amazon spent years plowing profits back into its business, telling investors it was strictly a long-term play. That long term may finally have arrived.
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The White House is finalizing a series of executive orders addressing key coronavirus stimulus priorities if negotiations with Congress fall apart, and it's leaving the door open for President Trump to use them even if a deal is reached that doesn't encompass all of his priorities, two administration officials tell Axios.
What we’re hearing: “I wouldn't be surprised that, if something gets left off the table, we’d be like ‘we can take this executive action too and be able to win on it anyway,’” one official said.
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TikTok said Friday that it was "shocked" by President Trump's executive order that will ban Americans from dealing with ByteDance, its China-based owner, in 45 days.
Why it matters: TikTok argued that Trump's move "risks undermining global businesses' trust in the United States' commitment to the rule of law, which has served as a magnet for investment and spurred decades of American economic growth."
The U.S. added 1.8 million jobs last month, while the unemployment rate fell to 10.2% from 11.1% in June, the Labor Department said on Friday.
Why it matters: The labor market continued to recover but the pace of job growth slowed significantly from June’s 4.8 million job gain, suggesting a stalled improvement as coronavirus cases surged and states pulled back on reopening plans.