Amazon Shares Fall 7%

◊ Amazon Stock Market News Today ◊ Amazon shares fell 7%, as revenue growth for the company’s lucrative cloud computing business slowed down in the third quarter, missing analysts’ estimates. Amazon beat expectations on overall third-quarter revenue, posting a sales… Read More ›

Amazon is driving brands to increase their advertising on its website for next week’s Prime Day, its annual sales event — potentially giving another boost to a revenue stream that has brought the ecommerce group into competition with Google and Facebook, the dominant forces in digital advertising.

Sellers and consultants say Amazon has advised some merchants to double or even triple their overall ad spending and the amount of money they bid on keywords if they want to get their products at the top of search results.