Shares of Amazon.com Inc. surged 1.2% in afternoon trade toward its 38th record close of 2017, after the ecommerce giant said it acquired the TV rights to “The Lord of the Rings” for a multi-season series. The stock has how rocketed $166.30, or 17.1%, since Amazon reported third-quarter results, which has increased Amazon’s market capitalization by about $80.1 billion to $548.7 billion. That makes Amazon the S&P 500’s fourth-most valuable company, behind Apple Inc. at $894.8 billion, Google parent Alphabet Inc. at $722.9 billion and Microsoft Corp. at $646.8 billion, and ahead of Facebook Inc. at $520.0 billion.
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