$AMZN

Amazon faces a $309.5M class action settlement over alleged refund issues from 2017 to 2026. Eligible customers, who may have received incorrect or untimely refunds, can claim payments. Subclass A members will receive automatic payments, while Subclass B members must submit claims by Dec. 1. The final approval hearing is scheduled for March 16, 2027.

Amazon (AMZN) launched its new Alexa tablet series, priced from $229.99 to $549.99, marking a shift from its low-cost strategy. The highest-priced model, the Alexa Tablet 12 Pro, now costs more than Apple's entry-level iPad. Amazon aims to justify the higher price with its Alexa+ AI assistant, integrated into the devices. The success of these tablets will depend on consumer adoption of the premium models, which could impact Amazon's market position and broader ecosystem.

Amazon.com (AMZN) is expanding its media strategy, focusing on live sports, theatrical films, and streaming distribution to attract larger audiences. According to Mike Hopkins, head of Prime Video, live sports like Thursday Night Football and NBA coverage help drive Prime engagement and advertising opportunities. Amazon spends $3B annually on NBA and NFL rights. The company aims for 15 theatrical releases yearly, targeting profitability independent of Prime Video.

The FDA sent warning letters to Amazon and Walmart over unapproved genital herpes products sold on their sites, citing public health risks. The products, including FemiClear and HerpCare, claim to treat herpes but lack FDA approval. Both companies have 15 days to respond. Genital herpes has no cure, but prescription medicines can manage symptoms and reduce transmission.

Amazon will close unspecified grocery partner storefronts on its platform, citing a move to simplify shopping and reduce friction. The company will guide customers to other grocery options. Amazon is expanding its own grocery operations, including same-day delivery. Affected partners include U.S. and European grocers like Winn-Dixie and Morrisons. Some jobs will be impacted, with support for affected employees.

Massachusetts lawmakers (Markey, Warren, McGovern, Trahan) urge Amazon and the FAA to conduct a local environmental review before authorizing drone deliveries from Amazon's Westborough hub, citing concerns about noise, wildlife, and fire risks. The FAA's current nationwide review may not address local issues, and 93% of survey respondents oppose the hub. Amazon plans up to 1,000 daily deliveries within a 7.5-mile radius.

New Street raised its price target for Amazon.com (AMZN) to $400 from $385. The stock was trading at $258.58 in pre-market, down 0.37%. The adjustment reflects updated analyst expectations.

Amazon Web Services (AWS) announced a $1 billion investment over five years in communities hosting its data centers, ending nondisclosure agreements with local governments. The move responds to growing opposition to data center construction, with AWS committing to transparency on resource use and funding education and energy-efficiency upgrades. AWS CEO Matt Garman also addressed concerns about electricity rates and data center moratoriums across the U.S.

Apple, Amazon, and Microsoft have launched new AI-powered devices ahead of the holiday season, aiming to bring generative AI into homes. Apple's HomeView smart home hub, Amazon's Alexa tablets, and Microsoft's Nvidia-powered Windows laptop are priced at $299, $550, and $2,599 respectively. Analysts note that consumer demand and economic headwinds may impact sales, with tech companies focusing on long-term adoption and subscription services.

Tech firms like Amazon, Apple, Comcast, Meta, Microsoft, and Nvidia, which donated to Trump's White House ballroom project, may face subpoenas if Democrats win the House in November. Donations included $25M from Apple and $10M from Microsoft, with total contributions to the Trust for the National Mall rising to $320M in 2025. Democrats plan to scrutinize corporate ties to the administration, including government contracts and business practices, but this does not imply wrongdoing.