Amazon Moves Deeper Into Delivery Biz

Online retail giant (NASDAQ: AMZN) is reportedly experimenting with a new delivery service.

Bloomberg reported, citing two people familiar with the matter, that Amazon's new service would be aimed at making more items available for free two-day shipping. It would also relieve overcrowding in the company's warehouses.

The news sent shares of FedEx and UPS lower, with the stocks dropping 2.4%, and 2.9%, respectively.

Amazon has been testing the new service in India for two years, Bloomberg said, adding it was deployed in West Coast states on a trial basis earlier this year. The report also said Amazon is calling the project "Seller Flex" and that it plans a broader rollout in 2018.

With this project, according to the Bloomberg report, Amazon would directly take over functions typically handled by UPS (NYSE: UPS) and FedEx (NYSE: FDX)

Among the latest developments offshore: Amazon this week announced that Alexa and Echo are now available by invitation in India, and that they are coming to Japan later this year.

Echo, Echo Dot, and Echo Plus are voice-controlled speakers designed entirely around your voice—they’re always ready, hands-free, and fast.

“Alexa is the brain behind Echo,” said a news release. “Just ask, and she’ll answer questions, play music, read the news, and much more.

Amazon shares kicked off trading on Thursday up $6.49 to $971.94, within a 52-week trading range of $710.10 to $1,083.31.