Stocks to Watch: Amazon.com, AeroVironment, Gogo

By Ben Glickman

Amazon.com officials haven't offered concessions to the Federal Trade Commission to settle antitrust claims, according to people familiar with the matter, The Wall Street Journal reported on Tuesday. That is paving the way for the regulator to file a lawsuit against the e-commerce giant, which it is planning to do later this month, one of the people said. Multiple people familiar with the matter told WSJ that the lawsuit would target several of Amazon's business practices.

AeroVironment reported fiscal first-quarter results that topped Wall Street's estimates. The Arlington, Va.-based defense contractor said its revenue jumped 40% in the quarter, lifted by strong demand for its unmanned systems. The company posted a larger-than-expected profit and lifted its full-year revenue and profit guidance. Shares rose 12% to $107 in after-hours trading.

Gogo on Tuesday said that its board of directors had approved a new $50 million share buyback program. The provider of internet services for business aircraft said that a strong cash position and existing funding for its major projects allowed the company to place more emphasis on returning cash to shareholders. Shares were up 4.8% to $11.66 after-hours.

Write to Ben Glickman at [e-mail]

(END) Dow Jones Newswires

September 05, 2023 20:00 ET (00:00 GMT)

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