Amazon (AMZN) shares are ripping higher on July 31 after the e-commerce behemoth said it has received about $600 million in tariff refunds following a landmark Supreme Court ruling. CFO Brian Olsavsky confirmed on the Q2 earnings call that AMZN has recovered the funds from President Donald Trump's administration's unlawful import duties and plans to pass them back, partly, to affected customers.
Including today's gains, Amazon stock is up nearly 20% versus the start of this year.
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