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          MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com, Inc.    AMZN

          AMAZON.COM, INC.

          (AMZN)
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          Amazon says 'appropriate' executive to be available, as U.S. panel calls on Bezos to testify

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          05/16/2020 | 12:24am EDT
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          Amazon.com Inc said on Friday it would make an "appropriate" executive available to the U.S. House of Representatives Judiciary Committee to testify about allegations related to how the company uses third-party sellers' data.

          The panel had called on chief executive Jeff Bezos to testify. Amazon's blog late on Friday did not commit to a specific person or consideration for who could eventually testify.

          "We have been working with the Committee in good faith for nearly a year to provide answers and information, and we remain prepared to make the appropriate Amazon executive available to the Committee to address these issues," Amazon said in the blog post https://blog.aboutamazon.com/policy/response-to-house-judiciary-committee-letter-on-seller-data.

          The Wall Street Journal reported last month that the online retailer used data from its third-party sellers to create competing products.

          In a letter to Bezos this month signed by Democratic and Republican members of the panel, U.S. lawmakers referred to the April 23 WSJ report, saying, "If the reporting in the Wall Street Journal article is accurate, then statements Amazon made to the committee about the company's business practices appear to be misleading, and possibly criminally false or perjurious."

          At issue were statements by Amazon's associate general counsel, Nate Sutton, who denied under oath last July that Amazon used sensitive business information from independent sellers on its platform to develop products for Amazon to sell.

          The company has previously said any such practices would violate its policies.

          Amazon sent a letter to the panel on Friday in response to the committee's May 1 letter and reiterated that any allegations that there was such a policy breach would be investigated.

          (Reporting by Ismail Shakil and Kanishka Singh in Bengaluru; Editing by Sonya Hepinstall and Gerry Doyle)

          Stocks mentioned in the article
          ChangeLast1st jan.
          AMAZON.COM, INC. 0.75% 3008.91 Delayed Quote.61.62%
          MEMBERS CO., LTD. -0.07% 1450 End-of-day quote.-36.32%
          THE NEW HOME COMPANY INC. -2.52% 4.25 Delayed Quote.-8.80%
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          Financials (USD)
          Sales 2020 349 B - -
          Net income 2020 9 672 M - -
          Net cash 2020 48 847 M - -
          P/E ratio 2020 154x
          Yield 2020 -
          Capitalization 1 501 B 1 501 B -
          EV / Sales 2019
          EV / Sales 2020 4,16x
          Nbr of Employees 798 000
          Free-Float 81,1%
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          Mean consensus BUY
          Number of Analysts 51
          Average target price 3 061,22 $
          Last Close Price 3 008,91 $
          Spread / Highest target 26,3%
          Spread / Average Target 1,74%
          Spread / Lowest Target -28,1%
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          Managers
          NameTitle
          Jeffrey P. Bezos Chairman, President & Chief Executive Officer
          Brian T. Olsavsky Chief Financial Officer & Senior Vice President
          Patricia Q. Stonesifer Independent Director
          Thomas O. Ryder Independent Director
          Jonathan Jake Rubinstein Lead Independent Director
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