Online retailer JD.com (JD) scored record-breaking sales on China’s largest shopping day of the year Wednesday, with the number of orders increasing 130% from last year. Alibaba, the chief competitor to JD.com, also reported a record day for the online sales event on Nov. 11, known as “Singles’ Day,” or what Alibaba calls the “11.11 Shopping Festival.” JD is China’s largest online direct sales company, similar to Amazon.com (AMZN), and the
Amazon.com (AMZN) and its rapidly growing cloud computing business continue to impress analysts on Wall Street and eat away competition. Today, Morgan Stanley analyst Brian Nowak hiked the investment bank’s price target 7% to 800 from 750, according to media reports. The analyst said that the company’s cloud business — which in Q3 hauled in $2.09 billion, up 78% from the year-ago quarter — continues to add new offerings, upping its addressable
Amazon.com (AMZN), days after it launched a brick-and-mortar bookstore in its headquarters city of Seattle, reportedly is rolling out others in India. In a project code-named Udaan, the new Amazon-branded storefronts are in existing retail shops in regions where Internet access is scarce. Customers can place online orders directly to Amazon.com and receive a text message alert when the order arrives at the shop, according to a Times of India