ADVERTISEMENT
ADVERTISEMENT

Amazon is climbing after it says it's buying Whole Foods (AMZN, WFM)

Amazon is taking on the grocery business, and Wall Street loves it.

Amazon is taking on the grocery business, and Wall Street loves it.

Shares of the e-commerce giant bumped up 3.23% to just below $1,000 after it announced it was buying Whole Foods for $13.7 billion.

Whole Foods jumped about 27.5% to match Amazon's offer of $42 a share.

Wall Street also sees bad times ahead for Whole Foods competitors. Grocery stores are getting clobbered on Friday morning.

ADVERTISEMENT

Elsewhere, Walmart announced it would be buying Bonobos on Friday, news that was overshadowed by the Amazon deal. Investors were less bullish on Walmart, as shares were down 6.08%. It's possible that at least some of the selling was a result of the Amazon deal.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

7 do's and don’ts of the Holy month of Ramadan

7 do's and don’ts of the Holy month of Ramadan

Top 5 sweetest celebrity mother-child relationships that stand out for us

Top 5 sweetest celebrity mother-child relationships that stand out for us

International Women's Day: 5 Nigerian female celebrities championing women’s rights

International Women's Day: 5 Nigerian female celebrities championing women’s rights

Top 5 female directors in Nollywood

Top 5 female directors in Nollywood

6 things that will break a Muslim's fast during Ramadan

6 things that will break a Muslim's fast during Ramadan

5 benefits of fasting during Ramadan

5 benefits of fasting during Ramadan

Dos and don’ts of supporting Muslims during Ramadan

Dos and don’ts of supporting Muslims during Ramadan

Here are common things people rarely dream about

Here are common things people rarely dream about

5 young women who embody Y2K and alte fashion

5 young women who embody Y2K and alte fashion

ADVERTISEMENT
ADVERTISEMENT