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It’s day 1 for Amazon Haul — the tech giant’s answer to Temu and Shein

More stuff for less is probably not a hard sell after years of inflation.

As the mass at the center of the e-commerce universe, when Amazon makes a move, the industry usually follows. But, for once, it’s the online giant looking to catch up with its competition, with the company rolling out its new — currently mobile-only — storefront, Amazon Haul, yesterday. It offers an array of products under $20, from fashion to home goods to electronics. Items like $2.99 holiday table runners, $1.79 iPhone cases, and $7.99 quilted totes are available to be shipped directly from warehouses in China to bargain-seeking shoppers in the United States.

From Amazon’s perspective, this feels smart — directly taking on the new kids on the block Temu and Shein, which have burst onto the scene in the last few years, at a time when inflation-weary consumers are more open to finding a bargain than ever before.

Temu & Shein Google Trends
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Despite already holding a ~41% share of the US e-commerce market (compared to Temu and Shein’s 1% each), Amazon is clearly determined to give shoppers as few reasons as possible not to visit amazon.com — even if it means easing up on its signature same- or next-day delivery. In a statement yesterday, Amazon noted shoppers are willing to bear with “one to two weeks” if they can snag “ultralow-priced” items.

According to data from website-intelligence platform Similarweb, Amazon’s main site has had more than 22 billion hits this year — more than 10x what Shein and Temu have racked up combined.

This isn’t Amazon’s first time taking cues from competitors; the company has been accused of borrowing products or business models from online furniture retailer Wayfair, shoe brand Allbirds, and Canadian e-commerce platform Shopify — reportedly even forming task forces to monitor them, according to The Wall Street Journal.

Amazon’s timing might come with challenges: US and European regulators are cracking down on a loophole allowing imports under $800 to dodge tariffs, plus there is Trump’s proposed 60% tariff on Chinese imports.

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Warner Bros. Discovery climbs amid reports it’s rejected takeover offers around $24 per share

Shares of Warner Bros. Discovery are trading up on Wednesday as a bidding war for the HBO and CNN parent company heats up.

According to CNBC, WBD has now rejected three Paramount Skydance offers. The latest was said to be for close to $24 per share (about a 15% premium from the stock’s level as of Wednesday morning and nearly double where it was trading before reports of a potential takeover surfaced in September) with 80% in cash. Yesterday afternoon, Reuters reported that WBD’s board rejected the $24 offer on Tuesday.

WBD, which said on Tuesday it was open to a sale and that there are multiple interested parties, climbed on the latest update. The stock was up more than 4% after the market opened before its gains narrowed.

According to reports, Paramount remains the most interested potential buyer, but Comcast, Amazon, and Netflix are also circling.

On Netflix’s earnings call after the bell Tuesday, the streamer’s co-CEO, Ted Sarandos, reiterated that the company has “no interest in owning legacy media networks.” Still, industry experts have speculated that a sale of WBD’s streaming and film studios business — which it previously intended to spin off — could be on the table, leaving Netflix in the hunt.

WBD, which said on Tuesday it was open to a sale and that there are multiple interested parties, climbed on the latest update. The stock was up more than 4% after the market opened before its gains narrowed.

According to reports, Paramount remains the most interested potential buyer, but Comcast, Amazon, and Netflix are also circling.

On Netflix’s earnings call after the bell Tuesday, the streamer’s co-CEO, Ted Sarandos, reiterated that the company has “no interest in owning legacy media networks.” Still, industry experts have speculated that a sale of WBD’s streaming and film studios business — which it previously intended to spin off — could be on the table, leaving Netflix in the hunt.

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Millie Giles

Mattel stock sinks after the Barbie maker posts disappointing Q3 results

Shares of toymaker Mattel fell by more than 6% in early trading this morning, after the company posted third-quarter results on Tuesday evening that missed analysts’ estimates.

The company, which owns Barbie and Hot Wheels, reported net sales of $1.74 billion — a 6% slump year over year, and short of the $1.83 billion Wall Street expected — with net profit also slipping by 25% to $278 million.

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Beyond Meat is soaring again — can the fake meat company turn the meme stock spotlight into a real future?

The faux meat maker’s stock is up more than 1,200% since October 16, but its core business is still a cash incinerator.

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