Target Falls on Weak Profit, Amazon Gets a Boost

March 6, 2018
Updated 1mo ago

Shares of Target fell Tuesday morning after the company said higher wages put pressure on profits during the holiday quarter. The company also said it's investing $7 billion to open up smaller stores and remodel current locations.

And Amazon shares are at a new record high, thanks to a new $2,000 price target from Monness Crespi. The company also said it's rolling out free delivery of Whole Foods orders for Prime customers in San Francisco and Atlanta.

UPS also got a boost Tuesday after analysts said concerns over competition from Amazon in the delivery space were overblown.