Amazon rallies after research firm predicts upbeat retail sales

Published by
Reuters UK

By Noel Randewich and Akash Sriram (Reuters) – Amazon’s stock rallied to its highest in more than two months on Friday after a research firm predicted the online heavyweight’s retail business in North America is set to beat Wall Street’s estimates. Amazon’s shares climbed 4% to $108, their highest since Feb. 3, giving the Seattle company a stock market value of $1.1 trillion. GRAPHIC: Amazon’s forward PE hovers at two-year average Data compiled by YipitData suggests Amazon’s March-quarter North American ne…

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