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Amazon (AMZN +1%) outperforms a little after Nomura asserts the company's margins, which have...

Amazon (AMZN +1%) outperforms a little after Nomura asserts the company's margins, which have steadily declined as it ramped its e-commerce, Kindle, and web services investments, may be bottoming. Higher shipping fees and other policy changes "may signal an increasing sense of economic discipline," Nomura adds, as may $1.2B worth of stock buybacks. Amazon rallied in April following its Q1 report, thanks in part to a better-than-expected gross margin.
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