7/6, 8:04 PM (Source: TeleTrader)
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Amazon shares up 4.7% to hit record high

Amazon's shares on equity markets jumped on Tuesday over 4.7% to reach a record all-time high benchmark of $3,679 per share.

The increase comes after news that the United States Defense Department canceled its $10 billion JEDI cloud-computing contract with Microsoft over Amazon's litigation. The project will now likely open up to other cloud vendors, including Amazon.

After hitting the peak mark Amazon's shares were trading 4.39% in the green for $3,665 at 2:14 pm ET, while at the same time Microsoft lost 0.45% to sell for $276.35.

Breaking the News / LH