NEW YORK (TheStreet) -- Shares of Amazon.com Inc. (AMZN) are down 0,56% to $329.46 in pre-market trade as workers at five German Amazon logistics centers have walked out in a two-day strike to support demands for a collective wage agreement, according to the the Verdi labor union, the Wall Street Journal reports.
Five out of the nine Amazon logistics centers have now joined the strike, Verdi said.
The dispute centers around a wage deal for Amazon's workers in Germany. The labor union wants Amazon to offer its workers in Germany a collective wage agreement in line with compensation in the German retail and logistics sector, rather than using its own pay policies, the Journal noted.
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."