Amazon.com (AMZN) Stock Up, Announces U.K. Drone Delivery Partnership

Amazon.com (AMZN) stock is higher in pre-market trading Tuesday as the e-commerce giant announced a drone delivery partnership with the U.K. government.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Amazon.com (AMZN) - Get Report are increasing 0.29% to $741.79 in pre-market trading on Tuesday as the company announced a partnership with the U.K. government to explore the e-commerce giant's delivery of parcels using drones.

The U.K. Civil Aviation Authority will test the drones when they are out of sight from operators in rural and suburban areas, measure sensor performance and ensure that one person can operate multiple highly-automated drones, according to an Amazon.com statement last night.

"We want to enable the innovation that arises from the development of drone technology by safely integrating drones into the overall aviation system," CAA policy director Tim Johnson stated, "These tests by Amazon will help inform our policy and future approach."

Separately, Amazon.com is rolling out its Prime service in India, TechCrunch reports. The program, which includes free one and two-day shipping, will be launched in 100 cities. But, Prime video services will not be included at this time.

(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial).

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.

The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, expanding profit margins and solid stock price performance.

The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that were evaluated.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: AMZN

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