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What to expect from Delta Air Lines Earnings report?
What to expect from Delta Air Lines Earnings report?

Delta Air Lines Inc. (DAL) has seen business plunge over the past year due to the COVID-19 pandemic. With government regulations limiting travel and many potential fliers opting to stay home, demand for Delta's services plunged in early 2020 and has remained depressed through April of this year.1

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The IPO of crypto exchange Coinbase on Wednesday has captivated fans of digital currency and investors as they speculate on the potential for a $100 billion valuation on the company.

With Early Debt Retirement Plan GameStop Looks to Become Debt-Free
With Early Debt Retirement Plan GameStop Looks to Become Debt-Free

GameStop (NYSE:GME) ended 2020 with $216 million in long-term debt. But under an early redemption notice announced yesterday, the video game retailer said it will be retiring the notes at the end of the month. That will leave GameStop debt-free and able to focus its resources on transforming into a primarily e-commerce driven retailer.

Authorities launch new investigation for anti-competitive practices, now against Visa
Authorities launch new investigation for anti-competitive practices, now against Visa

The process against Visa has not been officially disclosed by the authorities, but it would observe its practices in the debit market

EXCLUSIVE : Jeff Bezos to step down as CEO of Amazon, to be replaced by AWS chief Andy Jassy

Amazon (AMZN) said Tuesday that Jeff Bezos, the company’s founder and CEO, would be stepping down from his role in the third quarter of 2021.


Bezos will be transitioning to executive chair of the company. Andy Jassy, who currently leads Amazon Web Services (AWS), is set to take over as CEO of the company, Amazon said in a statement. Jassy has been with the company for nearly 24 years, according to his LinkedIn.

“In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have,” Bezos wrote in a letter to employees published online. “He will be an outstanding leader, and he has my full confidence.”

“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,” he added. “As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”

Jeff Bezos, founder of Blue Origin and CEO of Amazon, speaks about the future plans of Blue Origin during an address to attendees at Access Intelligence's SATELLITE 2017 conference in Washington, U.S., March 7, 2017. REUTERS/Joshua Roberts Jeff Bezos, founder of Blue Origin and CEO of Amazon, speaks about the future plans of Blue Origin during an address to attendees at Access Intelligence's SATELLITE 2017 conference in Washington, U.S., March 7, 2017. REUTERS/Joshua Roberts Charlie O’Shea, lead retail analyst at Moody’s Investors Services, said Bezos’ departure and replacement with Jassy would be an “absolutely seamless transition.”

“One of the things we’ve learned about Amazon is, there’s an incredibly deep bench there. They’ve turned over CFOs without missing a beat,” O’Shea told Yahoo Finance Live. “It’s not like Jeff Bezos is going to go sailing off into the sunset here. He’s going to be still very much involved in the overall strategy of the company, he’s the largest shareholder. There’s a whole lot of things that will keep him wedded to this company.”

“Andy has done a terrific job of AWS, I mean the numbers bear that out,” O’Shea added. “AWS continues to be the profit engine of the company and supports the retail business as a continuing investment.”

In the fourth quarter, AWS grew revenue 28% to $12.74 billion. That year-over-year growth rate held roughly steady versus the third quarter but slowed over 2019, as the segment matured further as the U.S. market share leader in cloud web hosting. And AWS operating income grew even more strongly, jumping 37% to nearly $3.6 billion.

The announcement of Bezos’ departure came in tandem with Amazon’s fiscal fourth quarter earnings results, which handily topped expectations. The e-commerce giant reported earnings of $14.09 per share on record revenue of $125.56 billion, compared to consensus estimates for $7.34 per share on revenue of $119.70 billion, according to Bloomberg data.

Shares of Amazon fluctuated between gains and losses in late trading Tuesday.

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