Amazon.Com Inc - AMZN STOCK NEWS

Amazon.com reported a strong third quarter for 2020, with a 37% increase in net sales, reaching $96.1 billion. Operating cash flow surged by 56% to $55.3 billion year-over-year. Net income also rose significantly to $6.3 billion or $12.37 per share, compared to $2.1 billion a year prior. The company announced plans for 100,000 new permanent jobs in the U.S. and substantial hiring globally, alongside initiatives aimed at sustainability and community support. The report highlights Amazon's resilience amid the pandemic, with strong hiring and sales metrics.

Amazon Studios partners with Homeboy Industries to support poll workers on Election Day by providing meals in Los Angeles County. Targeting under-resourced areas like East LA and Compton, the initiative aims to serve around 800 poll workers at 55 voting centers. Homeboy Industries' Feed HOPE program will prepare the meals, contributing to over 150,000 meals delivered during the pandemic. This partnership emphasizes community support during a challenging election period, aiming to enhance civic engagement and support local communities.

Amazon Web Services has launched AWS Nitro Enclaves, a new feature aimed at enhancing security for processing sensitive data. This capability provides a highly isolated environment for applications, ensuring that data remains inaccessible to even the owner. Nitro Enclaves supports various instance types and integrates with AWS Key Management Service for secure data processing. Customers can now better protect critical information such as financial data and healthcare records, addressing requests for improved security measures. Availability spans multiple global regions.

Amazon plans to open its first fulfillment center in Papillion, Nebraska, expected to launch in 2021, creating 1,000 full-time jobs with competitive pay and benefits from day one. Employees will utilize Amazon robotics to manage shipping of various small items. The company offers a starting wage of $15 per hour, along with comprehensive benefits including medical insurance and a 401(k). The investment is anticipated to generate approximately $204 million in local economic impact annually.

Amazon announced that over 35,000 Operations employees were promoted in 2020 and 30,000 employees utilized the Career Choice program. The company will also create 100,000 seasonal jobs across the US and Canada, aimed at providing flexible job options during the holiday season. The seasonal roles offer benefits and opportunities for career advancement. Amazon's commitment to employee growth was highlighted with a focus on its Career Choice program, which helps workers gain skills in high-demand fields.

Amazon.com announced plans to open its first fulfillment center in Waco, Texas, expected to launch in 2021. This facility will create over 1,000 new full-time jobs with competitive pay and comprehensive benefits from day one. The 700,000 square-foot center will handle small item shipments including electronics and toys. Since 2010, Amazon has generated over 43,000 jobs in Texas and invested $16.9 billion, impacting the state's GDP significantly.

Amazon (AMZN) and J.L. Childress have filed a lawsuit against 11 individuals for counterfeiting Childress’ products, including travel bags for car seats and strollers. Filed in the U.S. District Court for the Western District of Washington on August 10, the lawsuit claims that the defendants conspired to sell counterfeit products on Amazon's platform. Amazon has invested over $500 million in anti-counterfeit measures, resulting in 99.9% of products viewed by customers being free of valid counterfeit complaints.

Amazon (AMZN) has announced support for over a thousand charities globally through product and monetary donations, aimed at providing essential items to communities in need. This initiative will commence immediately across multiple countries, including the U.S., U.K., and India. Celebrity partnerships, like with Gabrielle Union, will help promote the campaign. AmazonSmile will facilitate donations, contributing over $215 million to charities to date. Key organizations like Covenant House and Second Harvest Food Bank will receive specific aid, enhancing Amazon's commitment to community support during the ongoing challenges of the pandemic.

Amazon.com (NASDAQ: AMZN) announced plans to open two new fulfillment centers in Kansas, expected to create over 1,000 full-time jobs with competitive pay and benefits starting immediately. These centers will focus on shipping large items like patio furniture. Amazon also plans to establish a delivery station in Wichita. The company has invested over $700 million in employee training and generated more than $2.9 billion in Kansas, contributing significantly to the local economy with job creation and GDP growth.