Today’s Research Reports on Stocks to Watch: Amazon and Party City
Though Party City lost the gains eventually on Thursday, the stock popped a little under 6% after announcing a pilot program with Amazon where it would sell products on the latter’s platform. The company also reported solid second quarter results with an earnings beat. Amazon shares were up modestly but also hit a brand new all-time high. The company is reportedly in discussions to start a pilot clinic later this year for some employees. .
RDI Initiates Coverage on:
Party City Holdco Inc.
Amazon.com, Inc. shares closed up a modest 0.64% yesterday but hit an all-time new high of $1914.57 during intra-day trading. According to sources, the e-commerce giant is in early internal talks to open primary care clinics for its employees at its main office in Seattle. According to unnamed sources, the early plan is to hire a small number of doctors to start a pilot clinic later this year for a select group of employees and then expand it to more workers in early 2019. Michael Yang, who is a health investor at Comcast Ventures, has said that the company could be using these local clinics to create a prototype before expanding them outside of just the employee base. Yang said that the company has tested new ideas with its employees before expanding them out, including the Amazon Go store. Yang said, "Dropping a package on your foot or throwing out your back after manual labor is a very different set of issues from the employee working at headquarters."
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Party City Holdco Inc. shares were up a modest 0.95% at the close on Thursday but gave those gains back in after-hours trading as the stock sank 2.20%. The stock initially saw gains in early hours of trading, with a gain of almost 6%, after announcing that it will sell products on Amazon.com in a pilot program. The party goods retailer would start with this year’s Halloween. CEO James Harrison stated, "The Amazon pilot we are launching will complement PartyCity.com’s category leading capabilities and serve to advance our overarching strategy of having Party City products available to consumers wherever they choose to shop. As a vertical retailer, the program also creates an additional channel of distribution that allows us to leverage our dynamic manufacturing and distribution capabilities while attracting new customers to the Party City brand, including Millennials, who have shown a propensity to shop across online channels.” The company also reported second quarter earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.39 per share. The figure was $0.28 per share a year ago.
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Our Actionable Research on Amazon.com, Inc. (NASDAQ: AMZN) and Party City Holdco Inc. (NYSE: PRTY) can be downloaded free of charge at Research Driven Investing.
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