- FinanceCNBC•38 minutes ago
Amazon be warned, the online 'war' is on with Wal-Mart, analyst says
Wal-Mart (WMT)'s second-quarter results make it crystal clear the retailer is committed to growing its e-commerce business, with Jet.com founder Marc Lore at the helm of it all. Faced with the threat of Amazon (AMZN) encroaching on its turf, Wal-Mart has been rolling out initiatives like "easy reorder," free two-day shipping with no membership required, and an online grocery service, which is slated to hit 1,100 Wal-Mart stores this year. Unlike Amazon, Wal-Mart can use its physical stores to its advantage in order to grow digital sales, Cowen & Co. analyst Oliver Chen said in a note to clients Thursday.
- BusinessBusiness Insider•2 hours ago
Alibaba is popping after earnings
Alibaba crushed its first quarter earnings report, released before the market opened Thursday. The Chinese e-commerce giant posted earnings of $0.82 per share, compared to Wall Street's estimate of $0.61. Shares of Alibaba are up 4.68% in early trading Thursday after the earnings beat.
- BusinessTriad Business Journal•37 minutes ago
LabCorp prices $1.2 billion debt offering - Greensboro
Laboratory Corporation of America Holdings (NYSE: LH) announced that it has priced a $1.2 billion debt offering. LabCorp, based in Burlington, said it plans to use the funds from the senior notes for “general corporate purposes,” including refinancing of upcoming debt maturities. The offering comes two weeks after LabCorp announced it will buy Chiltern International Ltd. for about $1.2 billion in cash, a deal that broaden’s LabCorp’s reach into the contract-research sector. Moody’s assigned a Baa2 rating to LabCorp’s offering of senior unsecured notes, saying the rating “ reflects the company's significant scale and market presence as one of the two largest independent lab operators in the U.S.”
