Amazon gains after Oscar nomination

Amazon is up 1.20% at $832.33 a share after receiving an Oscar nomination for best picture on Tuesday, thanks to its indie drama, “Manchester by the Sea,” starring Casey Affleck and Michelle Williams.

Amazon paid $10 million for the film at last year’s Sundance festival, and has been rewarded with six total Oscar nominations, in addition to one Golden Globe win for Affleck (and five nominations). “Manchester by the Sea” grossed almost $40 million at the US box office, making it a “commercial success” in its category, according to Variety.

Amazon continues to expand from its traditional e-commerce business. The company recently announced it was expanding into the auto parts market. Amazon has struck deals with several of the largest auto parts suppliers in the US to sell their products directly through Amazon, the New York Post reports.

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