Shipping Giants Ride Coattails of Online Retail Surge

The COVID-19 pandemic has undoubtedly had a profound impact on the global economy, but those impacts have varied across sectors. While many small businesses struggle to keep their doors open, online retailers have seen a significant surge. As brick and mortar stores closed their doors to the public or limited capacity, consumers shifted towards online shopping. Shipping and transportation companies have reaped the benefits throughout the pandemic and anticipate a busier than normal holiday season.

Amazon.com Inc.'s (NYSE: AMZN) second quarter earnings report for 2020 far surpassed expectations. The retailer reported earnings of $10.30 per share versus $1.46 per share expected and up 97.3% from the prior year quarter. The report also reflected $88.91 billion in revenue against $81.56...

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