*By Mike Teich*
Amazon shares jumped nearly 4 percent Friday after the e-commerce juggernaut delivered blockbuster earnings results on Thursday.
The tech giant impressed investors by delivering operating profit of $1.9 billion. Amazon's blockbuster numbers reflected its success in retail sales and growth in its cloud services business, said Michael Pachter, an analyst from Wedbush Securities.
Amazon also announced that it would be raising its Prime membership fee by $20, up to $119 a year. Pachter said the "odds are less than 1 percent that there is a decline in membership" as a result of the price hike.
Pachter compared Amazon Prime's cost to Netflix, noting that Prime was priced below Amazon's video-streaming rival and offers content that is "75 percent as good."
Cities across the U.S. offer free public transportation.
The cost of the first-class “forever” stamps has jumped from 63 to 66 cents.
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Starbucks union organizers are asking customers to help organize pickets at non-unionized U.S. stores.
Here is a rundown of the trending stories in the business world this week.
Amazon's annual Prime Day event will kick off tomorrow.
Calls are growing for an investigation into Prime energy drink, the product backed by YouTube stars Logan Paul and KSI, over its high caffeine content.
Stocks are drifting on Wall Street Monday ahead of a week with updates on where inflation and corporate profits are heading.
Randall Stephenson resigned from the PGA Tour policy board over the tour's proposed deal with Saudi Arabia.
Stocks rose at the opening bell as the market awaits updates on inflation data while earnings kick off this week for the second quarter. The Federal Reserve is also slated to meet later this month as investors anxiously await its decision on rates.
