Amazon News Crushes Delivery, Pharmacy Stocks

AMZN shares, meanwhile, are signaling a positive open

by Josh Selway

Published on Jun 28, 2018 at 9:25 AM

The latest announcements out of Amazon.com, Inc. (NASDAQ:AMZN) are set to have a major impact on the stock market today. Specifically, the e-commerce juggernaut said it would be leasing Amazon delivery vans to small businesses, while providing the businesses with things such as uniforms and insurance programs. This news is set to weigh on the shares of delivery companies FedEx (FDX) and United Parcel Service (UPS), with both stocks trading nearly 2% lower in pre-market action.

Elsewhere, Amazon unveiled plans to buy online pharmacy PillPack for an undisclosed amount. A number of stocks in the healthcare sector are sliding on the announcement, including pharmacy concerns Walgreens Boots Alliance (WBA) and CVS Health (CVS). In fact, shares of both WBA and CVS were down roughly 9% at last check.

AMZN stock, meanwhile, is edging higher, ready to add 0.8% at the open. The equity is attempting to rebound from a recent pullback, though it remains up 42% year-to-date, and just below its June 21 record peak of $1,763.10. Options sentiment has remained seemingly upbeat in the meantime, with the July 1,700, 1,770, and 1,780 calls seeing the largest increases in open interest during the past 10 days.

 

 

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