Amazon’s acquisition of Whole Foods Market, Inc. will provide a significant revenue bump for the company’s private labels, according to an analyst from SunTrust Humphrey Robinson. The acquisition, which occurred in August this year, is expected to add $700 million in sales to Amazon’s private labels, stated analyst Youssef Squali in a note. When Amazon’s acquisition of Whole Foods was announced, Squali […]
Warren Buffett said Berkshire Hathaway (BRKB) would hold Bank of America (BAC) stock for a “long, long, long time,” citing CEO Brian Moynihan’s attempts to turn the bank around. “Bank of America’s done a sensational job under Brian Moynihan,” Berkshire CEO Buffett told CNBC. “Brian had all kinds of problems when he came in. I mean, they were not of […]
The Boeing Company (BA) has ascended to the top of the Dow Industrial performance list, rocketing higher after breaking out above three-year resistance in January 2017. The stock has gained more than 50% since that time while grinding out an impressive series of all-time highs. The company’s aerospace domination has underpinned this historic advance, as well as a military landscape that should […]
(Ethereum is plunging.MI) Ethereum is plunging on Thursday afternoon, trading down over 17% to $228 per token, following reports that Chinese regulators are taking steps to shut down the country’s bitcoin exchanges and possibly ban all trading of digital coins. BTC China, the second largest Chinese bitcoin exchange, tweeted Thursday that it would stop trading of bitcoin on September 30. “After […]
Oclaro, Inc. OCLR was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the […]
The investment vehicle has come out in support of the activist investor, as both sides dig in for a boardroom battle set for Oct. 10 Yacktman Asset Management, a 25-year-old investment firm with $15 billion in assets, on Thursday, urged Procter & Gamble (PG – Get Report) to include activist investor Nelson Peltz on the packaged goods […]
Alibaba Holdings Group (BABA) Founder and Executive Chairman Jack Ma is planning to sell 9% of his position in the company over the next 12 months, as reported in a U.S. Securities and Exchange Commission filing on Wednesday. The performance of Alibaba this year has been nothing short of stunning. The stock is up 100% […]
Biotech stocks are on a tear, on pace for their best weekly performance of 2017. Sources told CNBC this week the administration may be holding off until the Senate calls a vote on health reform. But executive order drafts could actually have the opposite effect, prompting an impulsive president to react with policies more in […]
MUMBAI (Reuters) – Consumer electronics maker Dixon Technologies (India) Ltd will sell shares in a price range of 1,760 rupees to 1,766 rupees in its initial public offering set to open on Sept.6, a public notice said on Tuesday. The IPO will raise about 6 billion rupees ($93.9 million) at the upper end of the […]
FILE PHOTO: A salesman arranges gold ornaments, on a display board, inside a jewellery showroom during Akshaya Tritiya, a major gold buying festival, in Kochi, India April 28, 2017. REUTERS/Sivaram V/File Photo By Zandi Shabalala JOHANNESBURG (Reuters) – Gold rose to its highest in more than a week on Monday as the dollar weakened and […]
Stocks most owned by hedge funds and mutual funds managing nearly $4 trillion are handily beating the market this year, according to Goldman Sachs. “Both mutual funds and hedge funds have enjoyed strong YTD returns … Key sector overweights lead to outperformance,” strategist David Kostin wrote in a note to clients Friday. “High allocations to […]
With Amazon.com, Inc. (AMZN) completing its $13.7 billion purchase of Whole Foods Markets (WFM) , the e-commerce juggernaut is officially entering the bricks-and-mortar grocery space. With other moves, though — like its teaming up with Sears Holdings (SHLD) to sell Kenmore products exclusively on Amazon — it’s clearly showing that Amazon is looking to dominate just about every aspect […]
