Thursday's Headlines: AWS Problems Persist

Thursday's Headlines: AWS Problems Persist

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Tesla Motors (TSLA) +7.5%

Howard Hughes Corporation (HHC) +4.2%

Planet Fitness (PLNT) +3.6%

Evolent Health (EVH) +3.2%

Align Technology (ALGN) +2.7%

Moving Down ⬇️

Cloudflare (NET) -5.2%

Peloton Interactive (PTON) -3.6%

Stitch Fix (SFIX) -3.5%

2U (TWOU) -3.4%

Zoom Communications (ZM) -3.2%

1. Amazon (AMZN) Web Services (AWS), yesterday, suffered its third outage in December. Deliveries and fulfillment came to an abrupt halt earlier this month following a several-hour-long outage and the most recent disruption affected multiple companies including software service firms, Asana and Slack. One outage isn’t a huge deal, but it appears one region, ‘US-EAST-1’, is the primary area being affected. The blackouts, which have lasted hours, have been bringing some company operations to a standstill, and if the problem persists, Amazon could see vital customers move elsewhere. Read the full story here.

2. Tesla (TSLA) is being investigated by the National Highway Traffic Safety Administration (NHTSA) in the U.S. following a customer complaint that its ‘Passenger Play’ feature could cause concerns for driver safety. ‘Passenger Play’ allows Tesla owners to use and play video games from their vehicles, but it was designed for passenger use or when the vehicles are immobile. The formal probe is looking into 580,000 vehicles sold since 2017, covering all models; the S, X, Y, and 3. Although no incidents have occurred yet in relation to the feature, the complaint could warrant a recall — a similar issue that Mercedez Benz had to fix in relation to computer figuration and internet access in its vehicles. Read the full story here.

3. Calavo Growers (CVGW) has finally found a replacement CEO in Brian W. Kocher who expressed enthusiasm for enacting the company’s “next phase of growth and transformation”. Kocher has previously worked with global fresh food distributors Castellini Group, as well as Chiquita Brands International, and has held several senior executive roles throughout his tenure. Leadership has put a central focus on the building out of its management team in its most recent quarter, with the additional hires of Mariela Matute as Chief Financial Officer (CFO) and Graciela Montgomery as Chief Human Resources Officer (CHRO). Read the full press release here.

David GranahanDavid Granahan