NEW YORK, NY / ACCESSWIRE / June 18, 2018 / Amazon traded fairly flat on Friday without any significant news from the company however the retail king did see a victory recently after the Seattle City Council repealed a $275 per employee tax for large companies. Shares of Walmart were also flat without any big news. The company filed a patent not too long ago for drones in its stores to help shoppers.

RDI Initiates Coverage on:

Amazon.com, Inc.
https://rdinvesting.com/news/?ticker=AMZN

Walmart Inc.
https://rdinvesting.com/news/?ticker=WMT

Amazon.com, Inc. shares closed down a modest 0.46% on nearly 3.9 million shares traded on Friday. Rumors have been going around that the e-commerce giant and beauty cosmetic company Ulta could possibly merge. In order news the Seattle City Council repealed a $275 per-employee tax for larger companies. This bodes well for Amazon as it is the largest property taxpayer and private employer in Seattle. The company has also said it is getting rid of Mayday for Fire tablets, a service that allows users to summon tech support advisers on their Amazon devices within seconds. It was five years ago that Amazon launched the support service. According to GeekWire, Mayday's support page has said, "The Mayday video calling service will be discontinued in June 2018."

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Walmart Inc. shares closed down a modest 0.11% on about 12.5 million shares traded. It was revealed at the end of May that Walmart has filed a patent for drones to help shoppers in its stores. Though the patents have been filed, there is no guarantee Walmart will make anything a reality. The way it would work however is that your shopping list on your mobile device, or a tablet provided by the store, would communicate with the drone that would come to help you with what you need. The company's patent filing states, "If, for example, the user has requested navigation assistance to an item selected from a virtual shopping list on the mobile electronic device, the computing device can control the aerial drone to provide navigation assistance to guide the user to the location of the selected item." Amazon has also filed a patent for a delivery drone that responds to vocal commands and gestures. In other news, U.S. District Judge Brian Jackson in Louisiana sentenced Walter Glenn last Wednesday to 10 years in prison on charges that he defrauded Walmart nearly $1 million through identity theft as well as hundreds of bogus checks.

Access RDI's Walmart Inc. Research Report at:
https://rdinvesting.com/news/?ticker=WMT

Our Actionable Research on Amazon.com, Inc. (NASDAQ: AMZN) and Walmart Inc. (NYSE: WMT) can be downloaded free of charge at Research Driven Investing.

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