BusinessThe Street•51 minutes agoKroger Thinks Amazon Will Make One Huge Change to Whole Foods
While Amazon.com Inc. (AMZN) and Whole Foods Market Inc. (WFM) contend that the upscale grocer will be operated the same as it's always been, Kroger Co. (KR) isn't buying it. In response to a question about the possible effect the Amazon-Whole Foods proposed merger will have on Kroger, company CFO Michael Schlotman, speaking at the Oppenheimer Consumer Conference on Wednesday, June 21, said he's not too worried about it at this point, but that it will be "interesting" to see how it evolves. "I really wouldn't speculate on a merger that's out there like that," Schlotman said. "But I'm guessing [Amazon] didn't buy Whole Foods to be a natural organic grocer." On Friday, June 16, Amazon announced
BusinessThe Street•1 hour ago'Walmart Rx' Takes Center Stage as Walgreens Rite Aid Saga Nears Homestretch
A key issue for the Federal Trade Commission as it wraps up its investigation of Walgreens (WBA) bid for Rite Aid (RAD) is whether preferred pharmacy networks, like an exclusive arrangement Humana (HUM) has with Walmart (WMT) , are viable competitors to broad networks that include all the major pharmacy chains. Rite Aid shares fell 2%, or 7 cents, to $3.21 on Thursday morning. Humana argues that the information the FTC has requested is either irrelevant to the Rite Aid merger review or is available from the Centers for Medicare & Medicaid Services, the regulator of Medicare. "Walgreens proposed acquisition of Rite Aid could tip the balance in these reimbursement rate negotiations in its favor, allowing it to command higher reimbursement rates," the FTC said in its petition.
BusinessThe Street•1 hour agoIs Gilead Sciences on the Verge of a Powerful Rally Leg?
Gilead Science Inc. (GILD) is extending Tuesday's high volume gain. This impressive move has driven the stock to fresh June highs as a major bottom begins to take shape. Gilead is leaving behind a very solid base and, like much of the Biotech sector, is setting up well for more upside. Gilead has been very listless for the last four months. This sideways to lower action began with a devastating breakdown following the company's fourth-quarter earnings report. The stock fell nearly 9% on the news as volume surged to its heaviest level in years. Gilead quickly recovered but the massive amount of supply left behind after the Feb. 8 collapse provided extremely heavy overhead pressure. The stock
