Why Amazon.com (AMZN) Stock Is Higher Today

NEW YORK (TheStreet) -- Shares of Amazon.com (AMZN) are up 2.09% to $326 in pre-market trade after the company today announced Amazon Local Register, a service of Amazon Payments, a secure card reader and mobile app that provides local businesses the ability to accept credit and debit cards from a smartphone or tablet and keep track of their business.

Amazon Local Register customers will have access to the Amazon.com fully dedicated customer support team, as well as in-app tracking tools.

TheStreet Ratings team rates AMAZON.COM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate AMAZON.COM INC (AMZN) a HOLD. The primary factors that have impacted our 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and relatively poor performance when compared with the S&P 500 during the past year."

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