Amazon.com, Inc (AMZN) – Amazon announced that it would be closing down a UK-based globally operating online bookstore called Book Depository that it had acquired in 2011. The company was founded in 2004 with offices around the world, and represents the latest belt tightening example for Amazon.
Walmart Inc (WMT) – The global discount retail giant started its two-day 2023 Investment Community meeting focusing on omni-channel retail capabilities, investing in advanced technology, reinventing its supply chain, and more. The company stated that it “Affirms FY24 guidance and commitment to financial framework of 4% sales growth and 4%+ operating income growth over the next 3-5 years”.
Palantir Technologies (PLTR) – Famous financial pundit Jim Cramer thrashed Palantir and C3.ai (AI) saying “I think that Palantir is a series of press releases.” Both tickers have recently experienced significant price drops with C3 also facing a report from short-seller Kerrisdale Capital alleging accounting issues.
Shell plc (SHEL) – Reports indicate that Russian President Vladimir Putin gave approval for Shell to receive a buyout of $1.2 billion from Russian gas company Novatek (NVTK) in exchange for its 27.5% stake in the Far East Sakhalin-2 LNG project.
Automatic Data Processing (ADP) – ADP released its March National Employment Report and Pay Insights — results indicated that the hot job market may finally be slowing down with companies adding fewer jobs than forecasted. “Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down,” said ADP chief economist Nela Richardson.