Amcor plc Announces Drop In Q2 Earnings

Homicide investigation underway after man found dead in Denver motel room.

Denver police are investigating a homicide after a man’s body was found inside a motel room on East Colfax Avenue.

On Sunday police found 39-year-old Jermaine Riley dead in a room at the Sand & Sage Motel, 8415 E. Colfax Ave., according to a news release.

Anyone with information on the incident is asked to call Metro Denver Crime Stoppers at 720-913-7867 (STOP).

 

Amazon to pay $61.7M to settle charges it stole driver tips

Third-party sellers are the ‘life’s blood’ of what makes Amazon work: ‘The Amazon Jungle’ author

‘The Amazon Jungle’ author Jason Boyce provides insight into the perils of selling products on Amazon, explaining that third-party sellers are dependent upon the company and cannot complain.

Amazon.com Inc has agreed to pay more than $61.7 million to settle allegations that it failed to pay Amazon Flex drivers all of the tips given by customers over more than two years, the Federal Trade Commission said in a statement on Tuesday.

Continue Reading Below

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The money paid to the FTC will be used to compensate drivers, the FTC said.

Amazon did not immediately respond to a request for comment.

The FTC said that the company advertised that drivers in a program called Flex would be paid $18 to $25 an hour to make deliveries and would receive 100% of any tips.

The FTC says, however, that in late 2016 that Amazon began giving the drivers less per hour but did not tell them.

CLICK HERE TO READ MORE ON FOX BUSINESS

“Amazon used the customer tips to make up the difference between the new lower hourly rate and the promised rate,” the FTC said in a statement.

Amazon exec: We're eager to help with vaccinations

New York (CNN Business)Amazon founder Jeff Bezos will step down from his role as chief executive later this year and transition to the role of executive chair, the company said Tuesday. He will be replaced by Andy Jassy, who currently heads the company’s cloud business, Amazon Web Services.

Bezos has been Amazon’s CEO since its founding in 1995. He oversaw its growth from an online bookseller into a $1.7 trillion global retail and logistics behemoth, which has also made Bezos into one of the world’s richest people.
The news came as part of Amazon’s fourth-quarter earnings report. The company handily beat Wall Street analysts’ projections for both sales and profit, capping a banner year as the pandemic boosted both its retail and cloud businesses.

    Amazon (AMZN) shares were flat in after-hours trading Tuesday. The company’s stock has grown nearly 69% over the past year.
    This is a developing story and will be updated.

    Crude Oil Futures Settle Sharply Higher

    Crude oil prices moved higher on Tuesday, extending a recent advance, as the Organization of the Petroleum Exporting Countries (OPEC) and their allies’ move to cut production helped ease worries about any excess supply in the market.

    Also, with the coronavirus vaccination drive gathering momentum in several countries, concerns about the outlook for energy demand have eased a bit.

    West Texas Intermediate Crude oil futures for March ended up $1.21 or about 2.3% at $54.76 a barrel, the highest settlement in more than a year.

    Brent crude futures were up $1.18 or 2.1% at $57.51 a barrel a little while ago.

    Analysts said an uptick in economic and travel activity fueled by Covid-19 vaccines could accelerate in the second half.

    Goldman Sachs expects global oil demand to recover to pre-pandemic levels of 100 million barrels per day by August this year, while prices are expected to rise to $65 a barrel by July amid a tight oil market and slow rebound in demand.

    A survey by Reuters says major producers were restraining output growth “roughly in line with their commitments.”

    Meanwhile, the number of new coronavirus cases globally has fallen for the third week in a row, the World Health Organization reported on Monday, but urged countries not to let up efforts to defeat the disease.

    Chipotle Mexican Grill Inc. Q4 adjusted earnings Miss Estimates

    Chipotle Mexican Grill Inc. (CMG) reported earnings for its fourth quarter that increased from last year.

    The company’s earnings totaled $190.96 million, or $6.69 per share. This compares with $72.42 million, or $2.55 per share, in last year’s fourth quarter.

    Excluding items, Chipotle Mexican Grill Inc. reported adjusted earnings of $99.33 million or $3.48 per share for the period.

    Analysts had expected the company to earn $3.73 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

    The company’s revenue for the quarter rose 11.8% to $1.61 billion from $1.44 billion last year.

    Chipotle Mexican Grill Inc. earnings at a glance:

    -Earnings (Q4): $99.33 Mln. vs. $81.02 Mln. last year.
    -EPS (Q4): $3.48 vs. $2.86 last year.
    -Analysts Estimate: $3.73
    -Revenue (Q4): $1.61 Bln vs. $1.44 Bln last year.

    Amcor plc Announces Drop In Q2 Earnings

    Amcor plc (AMCR) revealed a profit for second quarter that dropped from the same period last year.

    The company’s bottom line totaled $186 million, or $0.115 per share. This compares with $219 million, or $0.139 per share, in last year’s second quarter.

    The company’s revenue for the quarter fell 1.9% to $3.04 billion from $3.10 billion last year.

    Amcor plc earnings at a glance:

    -Earnings (Q2): $186 Mln. vs. $219 Mln. last year.
    -EPS (Q2): $0.115 vs. $0.139 last year.
    -Revenue (Q2): $3.04 Bln vs. $3.10 Bln last year.