35 Burst results for "Andy Jazzy"
Bloomberg Radio New York
"andy jassy" Discussed on Bloomberg Radio New York
"And we're coming up on 9 29 a.m. in Hong Kong. I'm Michelle Jim Roscoe. And I'm Doug prisoner at the Bloomberg interactive broker studio in New York. Yes, we're about 60 minutes away now from the opening of the cash market in Hong Kong pre market has the hang seng higher by around 5 eighths of 1% or 6 tenths of 1%. I don't know why I did them with the 5 eighths anyway. Old habits die hard, I guess. Fair amount of appetite for risk. We had positivity and equities during the U.S. session and sentiment may be picking up a little bit. We were talking a moment ago about a study that we reported on that is being considered by U.S. authorities that would in effect extend the FDIC insurance program at least on a temporary basis to all deposits. Here's the caveat if the banking crisis were to expand. And we will expand a little more on that as we continue here on DBA. We're going to begin right now with updating a few of the sours top business stories. Well, that's right, Doug, and speaking of those U.S. authority is the fed's two day meeting kicks off tomorrow. The swaps market is pricing in a 75% chance of a quarter point hike. Aside from raising rates, the fed has been tightening financial conditions by winding down its balance sheet. Former New York fed president Bill Dudley expects the process to continue. I think this is about exceptional lender of last year's heart provision to support the banking system. I think quantitative tightening the runoff of the treasury portfolio and the agency mortgage backed securities portfolio is going to continue unabated. I see these tools is very separate and different. So I expect that quantitative tightening will continue. And Delhi also said the current problems in the banking system are not the global financial crisis all over again. We go to Amazon next, the company announced today it's laying off an additional 9000 employees. The stock was down about 1.3% today. Let's get more now from Bloomberg's Charlie pellet. The job cuts are on top of the 18,000 announced in January, which was its largest layoff ever. CEO Andy jassy said the actions would mainly affect Amazon Web Services, HR, advertising, and the Twitch live streaming group. Jassy said the latest cuts came after teams completed another phase of the company's annual planning process. Amazon has been laying off mostly corporate workers after a hiring spree during the pandemic. It has periodically worked to rekindle growth in its retail division, but the current slowdown is also hitting AWS, the source of most of Amazon's profit in recent years. In New York, Charlie pellet Bloomberg daybreak Asia. Well, back out here to the Asia Pacific for this one, the International Monetary Fund has approved a $3 billion loan program for Sri Lanka, more from Bloomberg's Rashad salamat. The IMF approved a 48 month package in Washington Monday to include an immediate disbursement of about $333 million. Since September, Sri Lanka has increased taxes cut energy subsidies and return to a more flexible exchange rate regime. It's all in an effort to make conditions a set indeed by the IMF, the agency estimating the country's expected to have about $56 billion in external debt. That's about 75% of its GDP this year. The loan package is considered a crucial step for Sri Lanka to stabilize its economy and begin restructuring its debts in Hong Kong. Bloomberg day break Asia and global news
Marketplace with Kai Ryssdal
"andy jassy" Discussed on Marketplace with Kai Ryssdal
"This final note on the way out today is another one for the no you gotta come back to the office. File, Andy jassy, the CEO of Amazon, sent an all staff email to day three days a week is the new new thing for the company may 1 is the star date. You do kind of have to wonder how many tens of thousands hundreds of thousands probably of square feet of office space Amazon has had Lion fallow for the
Bloomberg Radio New York
"andy jassy" Discussed on Bloomberg Radio New York
"As we just mentioned, up on the day, but only by about a tenth of a percent. Yeah, kind of in an even split, a little bit more of a bullish tone when you look at the S&P 500 Taylor 280 names gaining in today's session 222 to the downside one unchanged. Take a look at where we are on some of the individual sector levels sort of two dives underneath the surface. And indeed, while it feels sort of like that industrial, when you think about capital good, some of the dividend financials, of course, interesting given that yields are falling. And then of course, all the way down to the bottom Carol, it is exactly what you would expect. It's semiconductors. It's software and services. It's technology hardware. And of course, it is media and entertainment. Those are the worst performers as we push forward and away to Amazon. All right, we are awaiting. I'm kind of glued to the terminal. In the meantime, Twitter, one of the standouts was up about 8 tenths of a percent. Remember that court ordered deadline. It is tomorrow, so the end beginning may be near. And now we've got Amazon coming across the Bloomberg romaine. Yeah, Amazon results scholar coming across the wire right now. Interesting sort of set up here for the numbers. When we talk about what happened in three Q, we're going to walk you through them right now. Three Q net sales coming in at a $127 billion. That's pretty much in line with estimates, which were for one 27.6 consensus. So I guess we can call that a match operating income at 2.5 billion. That's a big miss. The street was looking for 3.11 billion here. Three Q EPS at 28 cents, the street was looking for 22 cents. So a beat, here's your forecast going forward. Fourth quarter net sales, a 140 billion to a 148 billion. That is the range that they're giving. The street on average was looking for a 155 billion. And so a miss on the guidance four four Q net sales here. Something to keep an eye on. We're going to dig a little bit deeper into these numbers, guys. But right now, you're looking at a stock down 11%. That's the knee jerk reaction here for a company that appears to be showing a little bit of a slowdown here and both revenue growth as well as some of their operating numbers. And that story is so similar when you take a look at Intel. Now looking at fourth quarter adjusted revenue of 14 to $15 billion, estimates on the street had been for $16.3 billion, and that flows through to a huge miss on the bottom line for the fourth quarter adjusted EPS of 20 cents a share estimates had been for 66 cents a share. They talk a lot about how they want to be driving efficiencies across their business. They're focused on embracing and internal foundry, model doing all of that while also aggressively addressing costs. So again, a full year revenue and a fourth quarter revenue that miss heavily on that guidance going forward. Yeah, I want to go back to Amazon because we are seeing this obviously a big one. I'm looking at the press release, Andy jassy, of course, the Amazon CEO saying there's obviously a lot happening in the macroeconomic environment and we'll balance our investments to be more streamlined without compromising our key long-term strategic bets. I mean, Caroline, one of the big things is bringing down some of their costs. I mean, the fact that they're also continuing to see international, well, lacklustre numbers in terms of a decrease in sales of some 5% coming from the international perspective, is that an FX read across the fact that we are still seeing some strength in 27% from AWS, but this is a company that of course has been having to streamline in an Andy jassy that says he's encouraged by steady crime progress. But having to lower the cost in stores fulfillment network as well, these are initiatives that they're going to have to bring to bear. I think the AWS net sales I mean, you mentioned the growth, 27%. That's great, right? But it is a miss. And it's a significant miss here by roughly about a $1 billion of what the street was looking for when you talk about on the dollar basis. That was the strength of this company. So if that isn't there, that growth doesn't remain. It raises some other issues. I do just want to point out two other interesting numbers that jumped out at me and you kind of touched on this. The 5% decline we saw in international net sales, which I think is significant. And the idea that when you take Amazon Web Services and you exclude the FX effect, you go from 27% to 39% here, but even that, I think maybe not quite what the street was expecting here. And you wonder sort of whether it is the three Q numbers or the four Q guidance that is causing what is now an 18% drop in the shares. And do we need to talk about the free cash flow that is actually now an outflow of almost $20 billion for the trailing 12 months. They've had an inflow of 2.6 billion for the 12 months before that in the previous quarter, a similar story with meta when our question was what happened to free cash flow. You could also poison this question here to Amazon. Shares continuing to move lower in the after hours. Amazon shares down 18.2%. That is the knee jerk reaction. My question for Andy jassy would be point to out specifically, how are you going to decrease costs in this environment? What does that look like? How are you going to get costs lower? Because his entire statement in the press release is about the cost structure. We talk about the shares being down and the idea that when you had the big declines and meta and some of the other companies earlier this week, it didn't have a huge impact on the market. We should point out that the NASDAQ 100 closed down by 1.9%. NASDAQ 100 futures here in the post market down 3% here. So the Amazon effect, a negative here for the broader market. Punam goyle, senior U.S. retail analyst at Bloomberg intelligence, joining us right now to walk us through this pun him. When you look at the market reaction here and you look at the data that we got out of this company today, or is that in sync? Is this as bad as a knee jerk reaction seems to make it look? It's actually pretty bad across the board. It's hard to find something good in this press release. Sales were weak across the board guidance as weak, margins are weak. I mean, overall, the bright star here that used to be AWS is also weaker, both on sales and margin. So I think there's a lot to digest, but it's kind of humming the same tunes as other results that we've seen earlier where the consumer is slowing, spending is slowing and hence the results are much weaker than expected. You know, put them Andy jassy, the CEO say we're also encouraged by the steady progress we're making on lowering costs in our stores fulfillment network. You talk about that operating margin 2% versus 2.48% was expected. That's not good. I mean, that's how you make some money going forward. Where is the cost problem when it comes to Amazon? Well, I think part of the mess that you saw in the operating margin was AWS led, keep in mind that AWS generates the bulk of Amazon's profit and margins did come in two percentage points lower than we're expected. So that's probably why the total margins are much lower than expected. Not to say that they haven't been making those cost saving initiatives or that they're not tracking, but AWS is a big contributor to the miss there. I just want to go
Bloomberg Radio New York
"andy jassy" Discussed on Bloomberg Radio New York
"And that's where we spend all our time. Netflix announced some layoffs, first subscriber loss in a decade, Disney cutting back on costs. Do you see Amazon strategy as fundamentally different from Netflix and Disney? And if so, how? All of the models are a little bit different, but for Prime Video, we have 200 million plus prime subscribers who are get that entertainment for free by being part of prime. And so we have a little bit different pricing model than some of the others, but I'm incredibly encouraged by what we have coming. If you look, I mean, we launched this show reacher earlier in the year. It was a huge hit. We had the new season. We just launched the boys season, which is awesome. Are you a big boys fan? I am a business Amazon. It's very good. Of course, we go to the rings coming up in September. And Thursday football. So I'm very bullish about it. We also we're excited about what we've done with MGM. I think some of the assets there will go very well with the rest of what we're doing entertainment wise. I'm very bullish about that business. I'm optimistic that we have a chance to build a significant grocery business, which is early stages for us. I am excited about Kuiper, which is our low earth orbit satellite, that we're building. Kind of remember there are 300 to 400 million people in the world who have limited to no Internet connectivity. I mean, just think about how different the world is when you don't have that type of connectivity. And so I think that's a really significant opportunity that has some AWS characteristics to it. I continue to be very optimistic about Alexa. And then our autonomous driving ride hailing service and zooks that we're building here in Bay Area. I just think with the way auto consumption is evolving, I think that also is a chance to be really significant business. I don't know if all of them are going to be successful, but if any one of them becomes the fourth pillar for us on top of marketplace and prime and AWS, we're completely different companies, just like we were when AWS became successful. So I think they're very worthwhile investments and bets and I'm optimistic about. That was Amazon CEO Andy jassy, speaking with Bloomberg's Emily Chang at the Bloomberg technology summit last month, as jazzy mentions autonomous
Bloomberg Radio New York
"andy jassy" Discussed on Bloomberg Radio New York
"AWS obviously What is the mark that you want to make still on Amazon I mean in this new role what's going to define the Andy jassy era Well I don't really think of it that way Emily I mean I don't think it's really about an Andy jazzy era or any one person And by the way AWS was not about any one person If you spent any time on AWS that is an unbelievable team not just an incredible leadership team which it is But just top to bottom And the number of inventors and people care about customers and operate something where it has to work almost like a delta It's always teams And so what I'm hoping for over the next number of years is really what really unites all the parts of our business which is we exist to make customers lives better every day and easier every day And we're going to keep inventing to do so And so I look at every single one of our businesses and take our retail business or our consumer business which is the oldest of our businesses 85% of it still lives offline I think we have a lot of upside and a lot of growth And I think as much invention as we've seen the last 25 years the time I've been there I think it's going to look small compared to the next 25 years There is a lot for us to invent On behalf of customers And so I'm excited to be part of the team that makes it happen And you know I also think that there's a lot we can do as we continue to make Amazon a place that employees love working at And it's the place that they can best build their career at And I also think that you've seen some of this last few years but increasingly we are continuing to increase the amount that we give back to the communities in which we have big presence And that really matters to me I think we have a responsibility to do that and so it's a long journey that we're working on But I'm excited to be part of it And I hope to partner for a long time Well thank you for joining us and telling us about the way.
Bloomberg Radio New York
"andy jassy" Discussed on Bloomberg Radio New York
"In a significant step for a major American bank that accelerates Wall Street's embrace of cryptocurrencies S&P off 103 points today up two and a half percent the Dow of 614 up 1.9% NASDAQ up 382 a gain of 3.1% Ten year yield 2.83% spot gold up four tenths of 1% 1894 the ounce crude up to day by 3.1% one O 5 18 a barrel I'm Charlie Talbot that is a Bloomberg business flash All right Charlie thank you so much Charlie palette there I mean wow what an week Yeah just even today the contrast between Amazon and Apple obviously not the same companies But Apple shares we now still holding on to about a 1% gain but I'm looking at though excuse me Amazon Oh actually Amazon's now up about 1% Oh I'm not saying that in my oh wait a minute I'm sorry that's Apple I see it down 10% Well it is a tale of two different ports Go ahead No what I was going to say is that even with that 10% decline in Amazon and Apple up just about a hair about 1% we're seeing NASDAQ 100 mini futures They're up even in futures are up about 2.3% So we're seeing some enthusiasm It does feel like that Yeah I mean I think you saw it similarly play out with today's trade with the effect from meta platforms The company formerly known as Facebook even though Facebook shares going into yesterday were down 50% from the beginning of this year There was a little optimism that okay well the company had returned to actually gaining users Right Because it was so bad the previous year was so bad And that really caught people off guard So I do think I know I've said it over and over I think we all did like a sigh of relief after that report that they weren't continuing to lose ground there Exactly Hey let's do a rehash of what we saw with Amazon We heard it from Charlie We talked a little bit about it earlier a lot about it earlier shares tumbling as quarterly sales forecast misting estimates Inflation Carol is eating into the low margin business The company's CEO Andy jassy right now focused on improving efficiencies when it comes to warehouses I think there will be a lot of questions from analysts about how things are at warehouses because employee relations has been an issue for the company of late Yeah absolutely Employee issues costs I mean they've got higher labor costs logistics fuel for all the delivery stuff And then there's just supply chain problems and snarls that is certainly impacting everything By the way it's not just an Amazon issue right now No unionization push right Yeah You have employees doing it looking to do it at Apple stores here in New York and Grand Central And then you also have it at Starbucks And you see Howard Schultz at Starbucks really focusing on that So you wonder how do they manage through that They've already raised prime right They've already raised The prices of certain things So now how do you make up the difference and cover some of those costs Does it just come to higher costs for this actual individual items Don't you ever Convenience of Amazon outweighs if you can find it somewhere else If you can find something else somewhere else for cheaper but you have to create an account you have to go in and enter your email Is that worth it to somebody But how much of you as a household Because you pay for Amazon Prime you're like we'll just order it on an app We don't even look anywhere else Right because you're like you don't pay anything for shipping Yeah Right Well that's what Mark Laurie wanted to do with jet He wanted to come in and change the way that consumers thought about shopping And for actual better prices than Amazon and what he said for years and then he went to Walmart when Walmart bought jet was that he can do it in a way that provides more efficiencies for the consumer Yeah I mean this is interesting I will say you know Katie said about you know I don't check the box where you put it all together I am increasingly doing that I do it It bothers the heck out of me that you know I get some little item in a huge box There's the packaging materials There's the cost and there's the delivery that's involved in that that it just doesn't make sense It kind of just bothers me Yeah I agree with you completely Let's talk a little bit about Apple Yeah let's do that Second quarter sales and profit topped analyst estimates fueled by strong demand for the iPhone and digital services and the company announced $90 billion in new stock buybacks RT live blog saying that that's pretty typical that we see that kind of amount announced by the company I think that happens similarly maybe a year ago but sales in the period up 8.6% and 97.3 billion a record for a non holiday quarter That's why that's interesting too iPhone sales topping estimates after that march SE 5G rollout that's the iPhone China sales growth slowing to the weakest since Q four of 2020 I expect calls from analysts about that region of the world specifically The company as you mentioned announcing $90 billion in new stock buybacks And then that service is a real bright spot record revenue for the company for services now about 20% of the company's revenue That's propelling earnings per share in revenue past analyst estimates Do you want to mention Intel because they also reported after the closing bell the world's biggest maker of computer processors reported lackluster quarterly revenue in its data center business and gave a disappointing sales and profit forecast for the current period So that's indicating some weaker demand for its chips across the board and we did see the stock under pressure I mean the socks was certainly an outperformer thanks to Qualcomm in today's regular session Intel down 4.4% in the aftermarket All right back to Apple for just one more that I'm seeing on our live blog here Tim colpan of Bloomberg opinion is saying that shortages are going to be in focus and even though Tim Cook has previously said that supply constraints are no fault of Apple Tim Colton and Bloomberg opinion says that he disagrees He thinks that Apple has way.
Bloomberg Radio New York
"andy jassy" Discussed on Bloomberg Radio New York
"Deliver 5G enabled services to their consumers around things like entertainment and Amazon Prime Video Okay but Andy jassy might have said he never thought about a stock split And recent events show that even in this environment sometimes we have to revisit those sacred cows As the idea of a split ever come up in a conversation with Andy or Jeff It's really not a topic of conversation We're very squarely focused on the way we're operating today We honestly do not have any plans in which I'm aware to really entertain a split off of AWS We think the way that we're organized now is actually very good for customers That said the market is changing valuations are dropping if you look at what's happening in the macro environment How is this impacting your strategy around acquisitions We've seen Microsoft be really opportunistic Well we've been very consistently done acquisitions over the really the whole history of the AWS I'd say that overall our strategy has been to do smaller tuck in acquisitions Part of that is because we're trying to build a complete infrastructure platform And we want the whole thing to operate as a single platform And I think sometimes these big bold acquisitions don't end up working very well Technically And they don't integrate well for customers So we're very open to acquisitions of all sizes We're very willing to be aggressive with the right opportunity presents itself To us it is always a starts with is it a great thing for customers Can we integrate it really well And then valuations would only even come into play and only even be a question if we like the answers to how does it fit from a business and customer perspective All right we're here with AWS CEO Adam silkski Speaking of that there's a lot of noise happening elsewhere in the tech industry I'm curious what you think of this spat between Twitter and Elon Musk I've been pretty focused on my own knitting I haven't had any time to follow that any more than a casual spectator in the news It certainly makes for interesting watching but honestly don't know much more about it than that But casual spectators often point out that Amazon doesn't really have a social play Does Amazon need a social play Could it be Could a Twitter make sense Well that I don't know but we certainly I mean a big part of all of Amazon's businesses and our strategy into different businesses revolve around partners and our ecosystem It's certainly true in AWS It's true in other parts of the business as well So we're very close to many companies with a very strong social presence Be it as AWS customers or in our retail business for customer acquisition and customer messaging during more and more in the retail business with the shopping experience using social channels So we're very intertwined with social media companies and it would imagine across all of our business will continue to be closely intertwined One of those is meta which recently picked Amazon as its long-term cloud provider I'm curious if meta is just giving you a piece of their business or if this is a step towards them getting out of their own data center business Well I think you have to ask them that But we've been working with them for quite a while but we and they did announce recently that they were doing a significant amount of their machine learning workloads on AWS would be doing where that going forward And we really love that as the next development and our long-term partnership with them I do think there's a lot of things that we can do with companies like that together The economics the agility the flexibility of operating in the cloud or just a strong and powerful And even for a large sophisticated cost effective companies there's still a lot of benefits to operating in the cloud How much companies like that move to the cloud move to AWS will be a function of how well do we understand and anticipate their needs and how well can we build in a way that's really effective for them for their own customer acquisition and retention There's a lot of new exciting technologies out there Andy recently said that Amazon could potentially sell NFTs in the future How do you think about NFTs blockchain web three the metaverse Where's the opportunity there for AWS Where do you want to play Boy there's a lot of buzzwords in that sense Aren't there There are And so we're wondering what the actual market opportunity is A fundamentally what we want to do is to enable all of the underlying technologies that our customers at AWS customers need to build all of those things to build the metaverse to build 3D computing to build blockchain and cryptocurrency applications And we're currently doing that So if you look at I mean gaming companies are often where people start when.
Bloomberg Radio New York
"andy jassy" Discussed on Bloomberg Radio New York
"Ten feet away from Andy jassy in the early days Tell us something about the Amazon CEO that no one knows but you You're gonna get me in trouble aren't you I grew up in Seattle and Andy coming from New York has this fascination I don't understand with New York sports teams So I've had to endure that for that for a lot of years New Yorkers yeah So what are you going to do Although I think come to adopt some of the Seattle teams particularly the new hockey team the crack in here As you should exactly So how do you expect Andy will be different from Jeff Or how has Andy already been different from Jeff Well I think we're all different as leaders I think it's all important that it's important that we all bring our own stamp to it And operate within ourselves I don't think I would be a very good Andy I don't want to presume but I would assume that Andy wouldn't be a great chef because Jeff Jeff Andy Andy and I'm me So I think that Andy was certainly bringing a great depth of experience from AWS which is one important part of the business and having operated that business for so long And I expect that will also give him an opportunity though he was involved in other parts of Amazon certainly for a number of years We'll be able to bring a fresh perspective to the whole company just as I hope to bring to AWS And I think that fresh perspective is often helpful I think just the mere act of change is useful for the business for customers for employees and just to shake things up a little bit So I think just a fresh perspective How will you be different from Andy Well I think that the world around us is changing so much that we're going to have to be different It doesn't matter what we did yesterday and right after I joined we actually added two new leadership.
Bloomberg Radio New York
"andy jassy" Discussed on Bloomberg Radio New York
"To that of the softer infrastructure deal as it's known Carol Yeah Listen you know the common themes are going to be what we're going to be talking about in just a few minutes as these earnings come It's going to be supply chains It's going to be what business picks up Caroline for some weakness maybe in another part of the business at these companies And as the closing bell rings upon us we see volumes up about 24% on the NASDAQ and we're seeing it push higher up 200 and in excess of 200 points 207 is sort of where we're closing 15,448 212 1.4% higher Significant moves in the S&P 500 were training up almost a percentage .44 points as higher 4596 is where we closed Dow Jones up 7 tenths percent 239 points are at 35,729 And then let's look at how the Russell 2000 outperformed for once on the day We're up or more than two percentage points That's 45 points 2297 for the Russell 2000 index Carol Yeah and as we wait Amazon as we await Starbucks in a few others it was pretty broad based by We saw 406 names in the S&P 500 higher today 97 lower Despite some economic news today Taylor that was a bit weak whether it came to the GDP number The labor market though those weekly jobless claims that reminded us that we are still recovering Yeah really interesting All the commentary read about third quarter GPs that don't get too nervous here because the jobless claims like you said and perhaps maybe pushing forward the things look a little bit better All right Carol Let's get to Amazon crossing the Bloomberg terminal So third quarter EPS 6 12 that compares with the estimate of 8.96 Let's initially like a big miss there Third quarter net sales a 110.8 billion that too looks like a miss versus the estimate of Alice we surveyed a 111.81 billion Let's get to some of the metrics Fourth quarter net sales so we're talking about the outlook here 130 billion to a 140 billion that also looks like the estimate out there is a 141.62 billion Online stores ecommerce are people shopping 130 to a $140 billion That's the estimate for the fourth quarter That too Caroline is light a 141.62 So that net sales outlook number for the fourth quarter that is light and that's why we're seeing some selling down almost 3% here in the after hours And I want to be digging into what they're seeing in terms of supply chain issue what they're seeing in terms of a desire to get out the buying eBay of course one of the worst performing stocks on the S&P 500 today after it sort of guided to a slightly weaker holiday season that many had been anticipating But they see the operating cash flow decreasing overall They said we've always said that it was going to confront with the choice between optimizing for short term profits versus what's best for customers over the long term And Andy jassy of course relatively new at the CEO at Amazon saying we choose the latter and you can see that during every phase of this pandemic So they're talking up about their desire to help their workers of course this is a company that's having to potentially pay more as they have threat of strikes here right now That's something that Andy jassy the idea of paying more refers to in the earnings release saying in the fourth quarter we expect to incur several $1 billion of additional costs and our consumer business as we manage through labor supply shortages increase wage costs global supply chain issues and increased freight and shipping costs all while doing whatever it takes to minimize the impact on customers and selling partners this holiday season It'll be expensive for us in the short term but it's the right prioritization for our customers and our partners We just spoke with Eric Clarke portfolio manager at rational dynamic grants funds He holds Amazon He said if it does dip Taylor he's going to buy it because quarter to quarter it doesn't really matter to him If they're in spending mode it means profits down the line Right well and you see that of course within the lower free cash flow from operations free cash flow in general and what's interesting though on the flip side of that is the continued stellar growth of AWS which I believe here is a 39% year over year growth and how much of that has continued to fuel this profitability Carol when you take a look at the shift between the fulfillment and the spending and then the shift within AWS I just want to make one point is that what was interesting is I do think they thought that AWS would be maybe enough of an outperformance to maybe offset what we're seeing in terms of some of the misses in this company And it's not certainly playing out that way Chanel when you look at the after hours trade Yeah absolutely Because just recapping here they've missed not only on the EPS by almost $2 here They're also falling short of expectations when it comes to that forward forecast for the fourth quarter which is normally a pretty gangbusters quarter for the retail industry Yeah it's interesting how much they're focusing in on their entertainment as well talking about the games launch talking about the number one movie stream that was Cinderella but we're also seeing a company that continues to think about its devices how much the echo is continuing to sell well the fire TV devices as well But this is a company that we've got to remember is so broad AWS the significant cash cow really among them and saying they've had significant customer momentum over that Yeah it's been a tough year for Amazon two particularly the second half of the year In fact since Andy jassy took over as CEO year to date the company's up by about 5.8% shares down by a 4.2% now in after hours trading That's well below the 21% advance of the NASDAQ 100 so far this year Yeah really interesting Here is we're taking a look at all of the traditional Caroline mentioned Amazon Video while quickly just go back to AWS because you wonder if that's where the focus is to help offset some of those investments And announcing Caroline some new initiatives take over more breaking news Starbucks coming out with its fourth quarter comparable sales And actually it's a slight miss the estimate of him for 19% growth overall in like for like sales They posted 17% increase When you're looking at their net revenue coming in at 1.18 .15 billion that is indeed a bit of a beat We're seeing China under pressure of course they've had the wave of COVID the delta variant there and indeed some government exerted shutdowns fourth quarter China like for like sales down 7% but that's slightly better than the market have been expecting and they have an adjusted earnings per share of $1 This is a company that is still seeing perhaps the U.S. not opening up as quickly as we had anticipated 22% growth in U.S. like for like sales the market want to see 24% as we all got back to the office with our coffee in hand And I think it's really interesting Caroline that you point out mostly missed across the board U.S. is lighter Carol international is lighter trying to appear to be the only sort of outperformer on a relative basis though it is still a decline Well and this is you know let's not forget how important this company is to like so many of our lives and it's such an important part of our marketplace 1.7 trillion in terms of market cap I've been looking at the press release just operating cash flow down 1% to 54.7 billion Free cash.
WBZ NewsRadio 1030
"andy jassy" Discussed on WBZ NewsRadio 1030
"Deemed to be unsafe for swimming. Save the harbor. Save the Bay Test the water quality at the beaches on a weekly basis from May to September on the Boston Waterfront. Mike Macklin WBZ Boston's NewsRadio 7 37, Now Massachusetts, reporting 369 new cases of coronavirus in the week ending on Sunday. That is one of the best states in the nation, slowing the spread of the virus. In the meantime, Britain's prime minister announcing plans to lift all legal covid restrictions later this month, Boris Johnson admit his decision to lift almost all covid restrictions to lie. 19th is a gamble. But if that didn't happen now, with the summer weather in school holidays on their side, we must ask ourselves When will we be able to return to normal that return to normal expected to result in as many as 100,000 new infections a day, But the hope is that the vaccines have cut the link between infection and death. Vicki Barker, CBS News, London and at 7 37. Any dog owner out there, and those fourth of July weekend can be a bit stressful for the fireworks displays the constant pops in the sky. Tend to frighten those little guys, and it is affecting a local Olympic champion Ali Raisman, saying her dog Milo ran off scared during a fireworks show in Boston even went as far as Sharing a contact email with a photo on her social media. If anyone spots Milo out there, hoping for a happy ending, 7 38 now time for business, live to Bloomberg. We go and here's Tom Busby. Well, Jim rents are soaring. Median rents up more than 9% in just the first half of this year. That's according to apartment list, which says rents are now higher than they were on track to be. Even if the Covid 19 pandemic never happened. Amazon dot com, has a new CEO. It's Andy Jassy, who ran Amazon Web services. The Cloud.
WTOP 24 Hour News
Amazon Begins New Chapter as Bezos Hands Over CEO Role
"Is a changing of the guard today at Amazon billionaire founder Jeff Bezos is turning over the reins of his sprawling empire to Andy Jassy. Bastos has done a lot with his company he started. Amazon is an online bookstore more than 20 years ago, and now it's uh, nearly $2 trillion Internet behemoth. Even though he won't be CEO anymore, Bezos will still have a lot to say. In his new role as executive chair in February, the company said he would be doing this to spend more time with his space company, Blue Origin and The Washington Post, which he owns. Bezoza is also interested in more philanthropy.
Cyber Security Headlines
Amazon Executive, Andy Jassy, Will Take Over the CEO Role
"Andy jesse to take over as amazon. Ceo on july fifth. The ceo of amazon web services had already been named as his successor to amazon ceo. Jeff bezos and now. We know the date that he steps into the new role. Bezos will remain executive chair of amazon's board and remains a massive shareholder. The date marks twenty-seventh years. Since amazon was incorporated jesse joined amazon and the late nineties and began leading the team that would become. Aws in two thousand and
WTOP 24 Hour News
Jeff Bezos to Formally Step Down as Amazon CEO on July 5
"Is stepping down as CEO of the company he founded on July 5th exactly 27 years after he founded the company. Amazon Cloud Computing boss Andy Jassy will become CEO.
WSJ Tech News Briefing
Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3
"Earlier. This week amazon said that. Andy jesse would be taking over as ceo from founder. Jeff bezos jazz. He's been the chief architect evangelist for the company's cloud computing arm amazon web service says ever since it launched in two thousand six. He helped build. Aws from an untested idea to a multibillion dollar business. Jesse's promotion is a sign that the company will be continuing. Its focus on. The cloud while amazon has strong position in the market are reporter. Aaron says cloud computing is becoming more competitive for many years. Amazon was really the only game in town. They pioneered this model of a cloud infrastructure platform player and there have been other players that tried to jump on board and lots of failed and really over the past few years. I'd say past four or five. We've seen microsoft really starting to grow quickly in that regard under sajjan adela. When he took over in two thousand fourteen he really refocused and put the company into serve cloud i mode and has really started paid dividends over the past few years and is now catching up to amazon. Quite a bed. We also see google nut growing as rapidly as as microsoft but certainly a viable player. Here
KIRO Radio 97.3 FM
"andy jassy" Discussed on KIRO Radio 97.3 FM
"Lot of those funding Mental characteristics of Amazon change under Andy Jassy. Yes, he's currently the head of Amazon Web services on to Cairo radio. Real time traffic. Here's Tracy Taylor. So how about I would say close to an hour ago, We had a crash on a South 25 Amounts Road and D O T said they had a couple of lanes blocked because of this, it looks like and I see on the cameras. It's definitely Off to the side. A little bit of a distraction for drivers with me on this backup on cell 25 starts out of liquid. I mean, you're hitting the brakes and just after Bridgeport and it goes all the way down the mountain road That is a very, very long, long drive, making it from Tacoma to Olympia 72 minutes. That's a little more than a half an hour, then what? It should be 32 minutes from two rather from Olympia to Tacoma. With some heavier traffic, especially for those of you on north on a five year city center. I was looking at the highway 16 cameras right around, we'll watch it. I don't see anything blocking but a pretty good line up for drivers as we head into Gig Harbor, the Valley Freeway, still struggling outside of Auburn in 18 East Bend, as we get closer to the Valley Freeway and the Auburn way exit, there is some slowing on self, only five at the convention center. Actually, just north of I 90 there is a crash there that's taking up too right lanes and they're still working the record north on the five in the express lanes at Northgate. Traffic is brought to you by indeed dot com Instant match Siri rather instant match searches through millions of resumes and indeed database to deliver candidates who put your job description instantly. Maurin indeed dot com slash credit Cairo Radio Real time traffic I'm Tracy Taylor Cosgrove Radio forecast calls for lows tonight around 40 a few showers tomorrow with highs in the mid to upper forties. It's 48 degrees in downtown Seattle. I've there. Bosch for breaking news highlights, podcasts and more download the Cairo radio at Cairo radio here for what's next, we could all use someone on our side right.
WSJ What's News
Bezos' Successor Andy Jassy Solidifies Amazon's Bet on Cloud Computing
"Amazon's head is in the cloud cloud computing. That is what andy jesse's elevation as jeff bezos. His successor says about amazon's growth strategy. I think it is significant. That the new amazon ceo has been at the core of this extremely important. One of the most profitable divisions new product divisions have come out of amazon and since it launched just as a straight know e commerce bookseller
Techmeme Ride Home
Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3
"He have probably heard by now that jeff bezos is stepping down from his role. As ceo of amazon will be transitioning to the role of executive chairman. This will happen in q. Three of this year at which point. Aws ceo andy. Jesse will become the new ceo of amazon bezos. Wants everyone to know. This is not a retirement in a letter to employees basis. Wrote quote as much as i still tap dance into the office. I am excited about this transition. Millions of customers depend on us for our services and more than a million employees depend on us for their livelihoods. Being the ceo of amazon is a deep responsibility and it's consuming when you have a responsibility like that it's hard to put attention on anything else as exact chair. I will stay engaged in important amazon initiatives but also have the time and energy. I need to focus on the day. One fund the basis earth fund blue origin. The washington post and my other passions. I've never had more energy and this isn't about retiring. I'm super passionate about the impact. I think these organizations can have amazon. Couldn't be better positioned for the future. We are firing on all cylinders. Just as the world needs us to we have things in the pipeline that will continue to astonish. we serve individuals and enterprises and we've pioneered to complete industries and a whole new class of devices. We are leaders in areas as varied as machine learning and logistics and if an amazonian idea requires yet another new institutional skill. We're flexible enough and patient enough to learn it and quote quoting cnbc. Amazon's chief financial officer. Brian ozaki said on a media. Call that the executive change was decided in consultation. With amazon's board of directors he said basis will remain very involved and have his fingerprints on lots of different parts of the company. Said jesse is a visionary leader who will bring his own skill set but that amazon expects a lot of continuity with the transition and quote. Yes the pr message from across the board is that basil's is still going to be involved with cool things at amazon things like new projects. New products strategic initiatives. that's very common for founders of these big companies. Say twenty years into them. Eventually you only want to do the fun stuff. Not the dirty stuff of running a huge operation day to day. Same thing happened. To larry and sergei at google they transitioned to their moon shots and other baths before drifting out the door entirely. I'll point out. That bill gates stepped down as ceo of microsoft. Thirty three years after the founding of that company amazon is only twenty six years old by comparison and yet gates was only fifty three when he retired bays fifty seven. I'm not saying fifty seven old by any means. But i didn't know that that was his age. All's i'm saying is if you're the richest man on earth depending on the day the sort of thing makes sense around this stage of life right. I also think it's worth pointing out as several people have been pointing out and as you'll hear again in a second that if we define the tech oligarchy as apple google amazon microsoft and facebook facebook is the only one of the big five to still be run by its founder. The rest are either in their second regime or even a generation or two beyond that
Morning News with Manda Factor and Gregg Hersholt
Jeff Bezos to step down as Amazon CEO
"Down as leader of one of the world's biggest tech companies, Jeff Bezos has announced he's planning to step down as CEO of Amazon, the multi billion dollar tech company he started back in 1995 protocols. Tom Krens, it says move didn't come as a huge shock to the tech community. This has been, you know, something that has been telegraphed for for a few years now crash, it says Bezos helped Amazon become a dominant force in the Commerce. What he has accomplished over these years is is really remarkable In terms of pioneering e commerce, which is a thing we take for granted. Based on those will transition to executive chair of the third quarter of 2021 Andy Jassy will take over a CEO later in the year. He currently runs Amazon Web services. Jesse in his own right has accomplished quite a bit with the WS, which you know, took the idea of cloud computing and made it a reality with
NewsRadio KFBK
"andy jassy" Discussed on NewsRadio KFBK
"With Sam Shane. I'm Christina Madonna. The time for a look at business now, and Genevieve's Burford and Brothers is now Up Trust Sacramento. So let's talk to certified financial planner Ellie Brothers. Good more. Thank you so much, Kristina. Yeah, This'll was a long time in coming and glad to make that announcement this morning and Very happy with the team. We have partnered up with that cap trust. Hey, wanted to hit on first of all, Amazon. What a transition for them their CEO since day one is moving into a new position. I would be Jeff Bezos and We know him to be the richest man in the world, obviously, but he's also I mean, anyone who has worked with or for the man says he's a tremendous CEO. His one of his philosophy says always been Day one. In other words, that you always choose today to be day one and work from here. The idea being that you never rest on your laurels in the past, and you're always looking to innovate. And get better for tomorrow, and he's gonna be coming executive chairman of Amazon, and that means that one of his trusted lieutenants Andy Jassy, who's been running Amazon Web services will be the next and only the second CEO in the history of Amazon. He's going to take over in the second half of the year, probably in July. I would assume What else do we have A private sector Jobs report out, which was basically three times what was expected 174,000 jobs added in the month of January in the private sector, according to a teepee. The estimate was that that was gonna be about 50,000. We'll see what the Labor Department says with their jobs report which will come out on Friday. Here are the real time numbers Dow Down 35 6 30,052. NASDAQ is up 65, the S and P up eight points. Gold up for oil up 1.5%.
Bloomberg Surveillance
Amazon stock rose 2% in Wednesday's premarket
"Stepping down as CEO of Amazon, ushering in a new New time for the e commerce and tech giant equity futures. They point to a mixed opening. With the tech heavy NASDAQ leading the way in positive territory. Volatility pulls back the vics is just above. 24 right here. Treasury yields they push higher with a 10 year at 1.12% on the commodities front. Deputy I inches higher north of $55 a barrel Bitcoin. Higher once again now $36,600 per coin. Let's call it. Let's get some more color on the premarket equity trading with Bloomberg stocks editor Dave Wilson David he looking at well, since you mentioned Amazon, Paul, we must will start their shares her up 2% Aziz. The management transition begins at the online retailer basis is going to be succeeded by Andy Jassy, who runs the Cloud computer unit. Amazon Web services. Bezos will be executive chairman should point out to Amazon's fourth quarter results, beat analyst average estimates and Bloomberg survey.
Houston's Morning News
Jeff Bezos to step down as Amazon CEO
"Jeff Bezos will step down as CEO of Amazon in the third quarter. His replacement will be Andy Jassy, who runs Amazons Cloud Computing Unit. That's a fast growing division that has changed the way cos by the technology that powers their businesses.
South Florida's First News with Jimmy Cefalo
Seattle-based Amazon CEO Jeff Bezos may step down without stepping away
"Down and receives Jolin Kent has more After more than 25 years and billions and sales Jeff Bezos is leaving his post to CEO this summer, handing the reins of the massive disruptor he built to Andy Jassy, the current head of Amazon Web services. All our retail giant announced that CEO and founder Jeff Bases will transition into the role of executive chair he founded Amazon in 1994 and grew it into today's massive online Padma worth more than $1.6 trillion. In statement, The Miami
Bloomberg Radio New York
"andy jassy" Discussed on Bloomberg Radio New York
"To 501 on Wall Street and check the markets every 15 minutes throughout the trading day on Bloomberg. S and P futures have 13 points this morning down Futures have 42 NASDAQ Futures of 76. The decks in Germany's up 6/10 of a percent 10 year Treasury down 6 30 seconds Yield 1.11% yield on the two year 20.11% Nymex crude oil is up 8/10 percent, or 43, cents, and 55 19 a barrel Comex gold up a quarter percent or $4.40 at 18 37 80 announced Nathan Karen, We begin with the end of an era at Amazon CEO Jeff Bezos. Is stepping down from his post, bringing a partial end to an epic run. We get more from Bloomberg senior executive editor Brad Stone. It's the end of the 25 year run, probably the most impactful entrepreneur and CEO in the world. He's going to remain active at the company guiding new projects staying on the board consulting on what they like to call it Amazon one way doors so those kinds of monumental decisions that tend to be permanent once you make them and then devote a lot of times is philanthropy Blue. Virgin. It's private space company, The Washington Post. And yet it takes him out of the hot seat. I mean, it's not just Congress or government, but also the protesters. Lots of union sentiment objecting the Amazons relationship with its warehouse workers. Certainly basis can operate a little bit more behind the scenes now and as Bezos exits the head of Amazon's cloud unit, Andy Jassy takes the helm. For the most part, Wall Street's taking The news in stride. Lee Drogon, a CEO of the earnings estimate, aggregator Estimize. I think this makes total sense going forward from an innovative perspective because he has touched everything. All of these other businesses. He basically is the person that droves the platform that underpins the modern Internet. The transition comes at a seemingly unstoppable time for Amazon. The company turned in another blockbuster quarter sales jumped 44% coming in at $125 billion. Up until now incoming CEO Andy Jazz, he kept a relatively low profile. He's led Amazon Web services since 2006 and as quietly reshape much of corporate technology put him. Doyle covers Amazon for Bloomberg intelligence. We do feel that there will be a boiling point in cloud, but that wasn't something that was lacking cloud has been growing at an impressive rate. Continues to really generate, you know, near 30% profit margin, which is very lucrative for the company. But I wouldn't say that Andy taking come with push the retail business aside. Andy Jassy takes over the post of CEO at Amazon and the third quarter and right now, shares of Amazon are down a quarter percent in early trading. We also have earnings from another tech giant. Shares of Alphabet gained 7% in late trading after quarterly sales topped estimates here with Maura's Bloomberg's Charlie Pellet, who Google parent got a lift from heavy digital advertising spending during the holiday shopping quarter. Online ad sales have rebounded since the early days of the pandemic when the economy faltered and marketers pulled back. Google benefited from increased online search activity and YouTube viewership while people remain stuck at home to curb the spread of the virus. Charlie. Pellets. Bloomberg Daybreak, Charlie. Thank you turning to the broader market. Now it looks like a retail trades egged on by Reddit continue to unwind and Bloomberg. John Tucker joins us live with the details. John and Karen. The 50 stocks behind the retail mania have seen $167 billion in value wiped out in a matter of days. There's little sign the pain is easing The stock that started all. Gamestop plummeted 60% yesterday in the premarket. It's down another 3% this morning. Meantime, Treasury Secretary Janet Yellen has summoned financial regulators to discuss the market volatility. She'll explore whether recent activities air consistent with investor protection and fair, inefficient markets. The SEC already said it will look for potential misconduct and examined brokerage decisions to help buying of some shares. John Tucker Bloomberg Daybreak. All right, John, Thanks on Capitol Hill, President Biden's push for a big stimulus package continues to gather steam. Senate Democrats are putting it on a fast track for passage. Amy Morris has the latest from our Bloomberg 99 1 newsroom in Washington. Senate Open debate on a budget resolution, which is the first step toward reconciliation bill that would clear the way for the president's relief plan to pass with a simple majority. Senators will take a final passage of the budget resolution tomorrow in the House votes on its version this week. Once the budget resolution passes, House and Senate committees will have until February 16th to craft the elements of a stimulus bill. Republicans say fast tracking the process shows President Biden isn't serious about trying to strike a bipartisan deal in Washington. I'm Amy Morris Bloomberg Daybreak. All right, Amy, thank you. As virus relief heads for Swift passage, there's a new effort to combat variance of covert 19. GlaxoSmithKline is teaming up with cure back to improve its experimental vaccines effectiveness against new strains of the virus. You're also boosting production of the shot, which is currently in late stage trials. GlaxoSmithKline and Cure back aim to have their vaccine approved by next year. We're also learning more about how long Corona virus antibodies could last, a new study shows. The majority of people who contracted covert 19 still have antibodies six months after infection, the report from UK bio banks found. That was the case in 88% of participants who previously tested positive for the disease. Was also an item catching a riot. A Europe today former East president Mario Draghi has been tapped is a possible next leader of Italy and Bloomberg's You in pots joins us live from London with the details you in good morning. Good morning, Caroline Nathan. He famously said he would do whatever it takes to save the euro will now former used to be president. Marry a druggie looks set to be asked to save his home country off Italy. Telling President will today are strongly to attempt a former governments and become the next prime minister. Plenty to deal with. As most years. Most indebted big economy continues to struggle with restrictions live in London. I'm um, pots Bloomberg Daybreak. All right, you and thank you straight ahead, your latest local headlines and a check of sports. This is Bloomberg..
NPR's Business Story of the Day
Amazon's Bezos To Hand Over The CEO Reins To Andy Jassy
"Jeff bezos is stepping back. Twenty seven years ago. He founded a company called amazon which proposed then to become a bookstore on the internet than wild idea. Was that you would shop for books without actually going somewhere to look for them. It was so new. That news articles had to explain how this giant bomb for would even work of course amazon sales just about everything now and this summer as will transition to executive chairman to focus on. The long-term amazon is an npr sponsor which we cover like any other company and npr. Business correspondent. alina saliou because here to do just that good morning good morning. Were you surprised by this decision i was. We're in the middle of a pandemic. it's not a thing you expect to hear in this moment basis. Less to say how. It's always day. One at amazon says line meaning always act like a startup and we were joking yesterday with a colleague like ten. We say. now it's date to amazon in many ways. Basil's has already been axing kind of like an executive chairman kinda less running shop day today. More thinking big visionary thoughts years into the future. He says he wants to do more with all his other. Major investments like the space company blue origin. Which is his huge obsession unless the washington post which he some philanthropy all that said it is definitely an end of an era. He is the avatar for one of the most powerful corporations of our generation. It's worth nearly two. Trillion dollars founders. Tend to eventually move on microsoft. Google happened to them. I guess now that leaves mark zuckerberg is the elder statesman of big tech at age. Thirty six and then. There's andy jesse who takes over as ceo. Where does he fit. He is one of businesses longest serving and trusted lieutenants. He was the person who shaped and shepherded amazon's sprawling cloud computing business. It's a group that i saw one analyst call amazon's cash printing division because it is amazon's biggest profit center and other thing about jesse's that he's actually known to be really he's waited on black lives matter for example he's pretty free-wheeling public speaker. Business over the years has become more elusive as a public speaker. So we will be interesting to see if jesse style changes as he become. Ceo especially as he faces scrutiny over amazon's treatment of workers new labor organizing efforts federal antitrust investigations any clues as to where jesse wants to take the company not yet. Lots of reading of tea leaves happening as we speak. He's been there for a long time up. He's the internet infrastructure guy cloud computing guy. What will this mean for the retail side of the business business. How will he approach it but remember that business is still the biggest shareholder amazon. He's that's big power yesterday. Chief financial officer. Brian huskey told reporters basis. We'll stay pretty involved. Jeff is is really not going anywhere. it's more restructuring of. Who's doing what i'm imagining. This abid like you know a principal stepping in the back of the classroom. Saying i see it as you were looking for teachers not really here but their presence limbs pretty larch you'll still be a big force in the company. Any idea what else he might do. Well my biggest question is actually. Whether we'll hear more from him in the coming days will he become more outspoken. Outside of the ceo corporate role. I'm thinking like former. Google ceo eric schmidt of or microsoft founder bill gates basis mentions his charity funds. So far he's not been seen as a major philanthropist. So we'll see if that changes what he is known for his interest in hollywood circles as he going to show up in a movie. You know a joke. But he is one of the world's wealthiest people and it is hard to imagine. Jeff bezos fading into the ether when you have billions of dollars people do get interested in what you have to say. Elise thank so much thank
News, Traffic and Weather
Why Naming Amazon's Andy Jassy as CEO Makes a Lot of Sense
"Stepping down later this year's Amazon CEO, he'll be replaced in the summer. By Andy Jassy. Your runs Amazons CLOUD BUSINESS All the announcement may have come as a surprise to a lot of people. Brad good of Cuomo's good for business segment. Said. It actually makes a lot of sense. This has been a very well designed well crafted transition. It was approved by the board and DGSE has been with the company for 23 years. He and Jeff Bezos have worked together and by all accounts and reports, they have worked together very well. Amazons, the biggest employer in the states, with 80,000 workers, 75,000 of those air in the Puget Sound region right now,
WBZ NewsRadio 1030
"andy jassy" Discussed on WBZ NewsRadio 1030
"The FBI identified those killed as special agent Daniel Alphin and special agent Laura Schwarzenberger. The confrontation was one of the bloodiest days and FBI history President Biden has signed three executives orders to undo his predecessors. Immigration policies. First action Today we're gonna work done do the moral and national shame of the previous administration that literally not figuratively ripper Children from the arms of their families and mothers and fathers of the border. The order's addressed legal immigration, reunifying families and asylum in the U. S. Mexico border. Covad numbers are trending down in the U. S, but still remain high. CBS is Dona Becca's With the latest on the effort to get people vaccinated. The Biden administration is taking steps to increase the nation's vaccine supply while expanding access to them. Next week. It will ship a million doses to 6500 pharmacies around the country will provide more sites for people to get vaccinated in their communities. And it's an important component to delivering vaccines equitably in Fort Worth. The Texas Motor Speedway has been turned into a mass vaccination site, possibly the country's biggest When all 16 drive through lanes are open. It can deliver up to 1000 shots an hour. The virus has killed more than 446,000. People in the U. S. A big change at the top of Amazon as CEO Jeff Bezos announces he's stepping down but not going away, says he'll transition into the role of executive chairman this summer and hand over the reins to Andy Jassy, current CEO of Amazon Web services. Requires thought. Bishop says Bezos will still have a large influence over the company goes, will continue to play a periodic role in the kinds of decisions that will basically determine where the company goes in the years ahead, he says. The move allows Bezos to focus on his other passions and projects, including space exploration, men, philanthropy. That's Cairo. Radios. Aaron Grenelle. Oh, this is CBS News, traffic and weather together. The Subaru retailers of New England all wheel drive traffic on the threes. It's 203. Let's start you off downtown, where you're moving slowly on the south bound side of 93, with three left lanes close from the second bridge to the O'Neill Tunnel, and then all traffic is Detroit off an exit 20, Mass. Pike. North bound 93. No delay, But exit 27 to the Tobin Bridge is closed. Tobin Bridge Outbound is Elaine closure, but no delay north of town. 93 looks good. 1 28 Dozen slow both ways and Danvers by Endicott Street work crews in your way their route One of 4 95 are both moving freely. To the South Expressway about 10 minutes between the tunnel in the split and Randolph 93 south exit for the route. 24 is closed in 24. North bound work, crew Delays and Raynham by Route 44. Route three about 40 minutes from the Sagamore Bridge up to Braintree. West on the pike eastbound, you're gonna slow down right by 4 95 in Hopkinton. A brief delay route to East Bond has work crews in your way by route 1, 11 and Harvard, causing a bit of a slowdown. This report is sponsored by Compassion International. It's a new year, but for kids in poverty around the world, things were still desperate. Joined compassion International with your one time $40 gift to provide a covert relief. Get to a family in poverty. Text the word Give.
KIRO Nights
Jeff Bezos stepping down as Amazon CEO
"Details from business reporter Jason Brooks. Amazon boss Jeff Bezos is stepping down as CEO from the company he founded in 1994, and we'll transition into the role of executive chair Andy Jassy, who currently runs Amazon Web services will take over for basis as CEO. Basil says he'll focus on and initiatives. This is CBS News
Broncos Country Tonight
Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3
"CEO and founder Jeff Bezos is stepping down. He'll transition to the role of executive chair Amazon Web services CEO Andrew Jassy slated to step into the role of Chief executive
Bloomberg Radio New York
"andy jassy" Discussed on Bloomberg Radio New York
"I think it's under appreciated just how amazing an innovative and important to everything that goes on basically in technology today that AWS is and wasps Way totally take it for granted all of the services that we use all of the rapid development. All of the engineer, just it's everything and beyond that. I think this makes total sense going forward from an innovative perspective because he has touched Everything. All of these other businesses. He basically is the person that drove the platform that underpins the modern Internet. So I think I think they will get rewarded for that. In the short term and long term, the stock is up. It makes total sense. AWS itself 28% year over year growth 40 something percent of the net income. I mean, the business is still firing on all cylinders, even though there are competitors out there. You know, Google and Microsoft do have cloud businesses that are growing faster and and certainly knocking at the door here, But this isn't slowing down. You know any time soon And as we've seen with the last, you know, 69 months This infrastructure is not just critical to these businesses. It's been critical to the country into the world. I don't think we can expect that Jeff basis will not be involved. He will surely continue to be heavily involved in the company that said, We're entering a new phase of regulatory scrutiny for Amazon that Andy Jassy is going to have to deal with how big a risk factor. Do you think that is And how do you expect him to lead through that? Yeah. Look, I've been on one side of this for a long time. I just don't think for Amazon. This is an issue. It is going to be for some other companies. But if you look at the actual Uh, you know, the actual concepts that are being put forward in terms of, you know, regulation. They just don't add up to something that either makes a lot of sense or will be super significant going forward. Um, Amazon is basically a monopoly. But we have decided in this country that some monopolies were okay. And they are and they're good for consumers there. Certainly good for consumers s so we Basically handed them that in return for something which is being neutral, and there are places that they stepped over the line in terms of not being neutral, But that is a tiny piece of I think what the kind of populist rhetoric around Amazon attempts toe stick them with that just won't it won't stick. There might be a little pieces around the edges, but by and large, this won't be an issue. I have to ask you the meantime, What's going on with these Reddick retail traders game stop dropping back down to $90 a share. But the market's really rattled and the game, it seems, has been changed. Like the rules have been changed. The field now looks Completely different a same time you've got some of these Reddit ear's like like roaring Kitty Azi calls himself continuing to try to rally the troops. And I wonder. Are we seeing this? Fizzle out or does this continue? Is this just a new part of the story? And does this have to be incorporated into into the strategy of traders, both professional and retail? Yeah. Good question. There are a lot of taste, obviously, in a lot of different vectors on which you know you can approach this this whole story, But for me, the most important one here goes back to you know, I've been in the kind of social finance space now for over 12 years, you know, First it stocked wits and then founding estimize about 10 years ago. And I don't think we ever quite for saw the combination of the ease of getting retail investors invested. In basically playing a casino game, which is what Robin Hood and some of these other brokerages have done. They've made it that easy that it is a dopamine receptor casino game at this point mixed with the social aspect of being able to Basically driver heard in one direction. And I do think that that is a tail risk that hedge funds are going to have to deal with in the future. We just saw it on the short side. We have seen it on the long side would test love for sure. Uh, and That's not going away. The populist aspect to this I think is completely bummed. And, you know, basically you can write off that entire political populist, you know, story. But going forward. Yeah. This is gonna happen over and over again. We just saw the largest de grossing of hedge fund A, um in, you know, since 2009. This is bigger than you know, the D gross thing that happened in March, so there are long tail risks here that haven't quite been accounted for. And certainly while I think you can Raid off the whole, you know, populist aspect to the WSB thing. You definitely can't write off the concept that online crowds. Plus, you know, dopamine casino games being You know these these investing APS is gonna be really important. Lee Love your analysis there. Thank you so much for breaking it down on a big day. Estimize founder and CEO Lee Drogon with us appreciate it. Okay, coming up Pop, hoping the bubbly for many reasons today alcohol delivery company drizzly toasting today with the $1.1 billion deal selling took uber. We're gonna catch up with the co founder and CEO. Next. This is Bloomberg. Covered 19 on days when it seems there are nothing but questions. What about the pandemic Emergency purchase program? The in Europe? What's the medical side of this? We try to ask Good one. How long until we have answers on what drugs can help us fight this pandemic? How do you think this has the potential to rattle markets? Does that mean we should shut down Bloomberg Radio? The Bloomberg business happened. Bloomberg radio dot com to run a controversial question being asked Bloomberg. The world is listening. The doors are opening. What is that moment out in the distant future? Some things will be as.
WTOP 24 Hour News
Jeff Bezos stepping down as Amazon CEO, transitioning to executive chair role
"Jeff Bezos is going out a winner. He's stepping down as CEO. We'll take the title of executive chairman later this year. The current head of Amazon Web services Andy Jassy, will move into the CEO spot. Amazon reports more than $100 billion in sales during the fourth quarter, beating estimates and it expects another $100 billion quarter this quarter. As the pandemic continues to drive more shopping online. Google
Afternoon News with Tom Glasgow and Elisa Jaffe
Jeff Bezos, Amazon's founder, will step down as CEO
"Today, some surprising news out of Amazon after today's closing belt, the e commerce giant while detail he was very strong holiday quarter earnings and revenue numbers, also announced that founder and CEO Jeff Bezos will give up his chief executive duties sometime in the third quarter. Amazon Web services boss Andy Jassy will take over the top executive role at the company. Shares of Amazon are fractionally higher In after hours.
The Afternoon News with Kitty O'Neal
Jeff Bezos To Step Down As CEO Of Amazon
"Is going to become the online retail giant's board executive chair while Amazon Web services CEO Andy Jassy takes over. In a letter to employees, Bezos says he will focus on new products and early initiatives. So what's going on with the federal stimulus checks?
Afternoon News with Tom Glasgow and Elisa Jaffe
Jeff Bezos stepping down as Amazon CEO
"From a business standpoint, I think things are going to remain much the same. That's Rob Smith, executive editor of Seattle Business magazine. Bezos has said he wants to focus on other projects such as Blue origin, his spaceflight company. Andy Jassy, head of Amazon Web services will take over later this year, Bezos will remain on as executive chairman. I'm Ryan
NewsRadio KFBK
"andy jassy" Discussed on NewsRadio KFBK
"We're just getting. We're getting news out of Seattle that Jeff Bezos is stepping down from being the CEO of Amazon. Yeah, but it's one of those where He's not going anywhere. He's stepping down from CEO and he will become the executive chairman. Which means He gets to make the decisions, but he doesn't have to be there every day. He's going to be replaced by a guy named Andy Jassy. Who currently heads up Amazons Cloud business and their Amazon. What's Amazon Web services? So, um, Well, that's Bill Gates did that. You know, I mean, at some point, the company Is big enough. Large enough. Well run enough. Where you've got layers of good people in your top management. That any one of you could disappear and the rest of them would pick it up. And that would not be dropped in the business. So I presume, but, Basil look it. I mean, you look at what Jeff Bezos did. It's not that I look at things like this and even e. I've heard him intimate. He's even surprised. That Amazon turned out to be what it is. He literally saw a way to take advantage of this new thing. The Internet. And thought. I wonder if I can sell things on the Internet. Well, what What do you think, can sell What would people by On the.
WTOP
"andy jassy" Discussed on WTOP
"It's first save money. Choose from thousands of used cars and trucks visit fit small dot com. That's the Fitz Wait. Dave Tilden. W T o p. Traffic. How long will we stay wintry. Here's Matt Ritter. The persistent bands of light snow that we had earlier today have broken up quite a bit. And now just occasional scattered snow showers this evening with some flurries into the nighttime hours, some additional light accumulation at the most in a few areas, But from here on in really the exception, blustery and cold, cloudy skies this evening temperatures in the low thirties Mostly cloudy overnight tonight, blustery and cold. With temperatures dipping down into the mid twenties to near 30. We'll have to watch that re freeze for tomorrow Wednesday, a mixture of clouds and finally more sunshine. Just a few passing flurries. Here. They're blustery and cold highs will be in the low to mid thirties. Thursday. Mostly sunny, high pressure building. It means not as windy, a little bit milder with that sunshine. Highs will be in the mid 30, so low forties but clouding over Thursday night Friday morning, wintry mix two coming all light rain and drizzle. Eyes will climb into the mid to upper forties. I'm starting four meteorologist Matt Better Well, Temperatures are hovering in the mid thirties. For the most part 35 in Manassas, Frederica 36 were 34 northwest D. C and it's brought to you by long fence 20% off savings on fences, decks and papers. Go toe long fence dot com and schedule your free estimate today. Way have breaking news on w T o P Jeff Bezos is getting ready to step down as Amazon CEO Andy Jassy is set to take over in the third quarter. Multiple reports say bases will transition to the role.