Amazon shares fell as much as 4.5 percent in morning trade, but later pared losses, down 1.3 percent at midday. Amazon has in the past been criticized for attempting to skirt state sales taxes, but since April last year it has voluntarily collected state sales tax on items it sells direct to customers in all 45 states that have one. Washington and Pennsylvania recently enacted laws requiring collection of third-party merchants' sales taxes, and other states are expected to follow. Lucrative online retail delivery for Amazon and other online retailers is the fastest-growing part of USPS' business, helping offset a sharp decline in regular first-class mail. "Common sense suggests USPS needs Amazon more than Amazon needs USPS," Stifel analysts wrote in a research report this week.

Source: dna March 29, 2018 17:16 UTC