NEW YORK (TheStreet) -- Amazon.com (AMZN) - Get Report stock is down by 0.51% to $580 on Monday morning, as the company is said to be preparing to launch a two-hour delivery service in Berlin, Germany.
The Seattle-based online retail giant has ordered a site on Berlin's famous avenue Kurfuerstendamm to be repurposed as a warehouse for more than 10,000 items, German newspaper Welt reported this weekend, citing sources.
Amazon.com has primarily used Deutsche Posts' DHL delivery service in the European country. The company's move to bolster its own delivery capacity is seen as a threat to DHL's business, Reuters noted.
Deliveries would begin in May, and at first, active courier firms in Berlin would carry them out, six days a week in two shifts, Welt added.
The e-commerce giant has rolled out new services for its Prime program members, such as one-hour delivery, in an effort to attract customers in the competitive online shopping market, Reuters said.
(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial).
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
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 and robust revenue growth.
As a counter to these strengths, the team also finds that the company has favored debt over equity in the management of its balance sheet.
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