Market Wrap: Amazon's Hardware Day, Marathon Petroleum Engages With Elliott

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Amazon (AMZN) - Get Report is unveiling updates to its hardware offerings at an event inside the Sphere at its campus in Seattle with a focus on its popular Alexa, Echo and Ring products.

Amazon unveiled an all-new Echo that features a new fabric design, 3-inch woofer and increased bass volume. The company says that the Echo Studio smart speaker will automatically calibrate to maximize sound in whatever room the device may be in.

Finally, one of the biggest debuts was the company's Echo Buds wireless headphones. The headphones also connect to Alexa and feature noise cancellation technology.

Marathon Petroleum (MPC) - Get Report responded to activist investment group Elliott Management as the institutional investor pushes the company to break itself up into three different entities.

Marathon said that it will continue to engage in constructive dialogue with Elliott while also touting the fact that it returned about $850 million to shareholders in the second quarter of 2019, and more that $2.1 billion year to date through dividend payouts and share repurchases.

Elliott, which holds a 2.6% stake in the Findlay, OH-based company, doesn't seem to be impressed with those numbers, however.

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