NEW YORK (TheStreet) -- Shares of Amazon.com (AMZN) - Get Amazon.com Inc. Report were increasing in pre-market trading on Tuesday as the e-commerce giant is working on a music subscription service that would cost about $5 a month, according to sources cited by Recode.
The Seattle-based company is also working on another streaming service, which would cost $10 a month, in line with similar services from Apple (AAPL) and Spotify, which cost the same.
The streaming services would only work on its Echo hardware.
Amazon.com would like to launch the services in September, but has not finalized deals with major music labels or publishers, Recode noted.
(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 good cash flow from operations.
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