Target Falls on Weak Profit, Amazon Gets a Boost

March 6, 2018

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.