Top Stories

Jun 16, 5:40 PM EDT

Grocery store stocks plummet after Amazon-Whole Foods deal


Multimedia
Memphis in May Barbecue Competition
Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
German business confidence reaches new record high

Debt, protectionism could drag down improving global economy

Puerto Rico governor to fight proposed furloughs, cuts

Eurozone economy enjoyed 'best quarter in over 6 years'

The pain and gain of Brexit vote: British economy a year on

Mexico raises key interest rate to 7 pct to combat inflation

Egypt doubles subsidized food available on ration cards

Egypt doubles capacity of ration cards

UN economist faces fraud charge in hiring of domestic worker

Cyprus official: Lowest-ever interest rate on bond issue

Multimedia
Summer grilling recipes
Cream-filled chocolate eggs
Buffalo Wings
Potato Chip and Pretzel Baked Chicken
Crispy Baked Cod
Bacon Barley Risotto
Kid-Friendly Focaccia
Indian Pudding
Dinner Biscuits
Popovers
Jerky Chili
Brown Butter Pasta
Freezer Jams
Summer snacks
Crafting the perfect deviled egg
How to make quick puff pastry
Fresh flatbread is quick, easy

Amazon's acquisition of Whole Foods Market sent the stocks of grocery store operators and other companies that compete with Whole Foods plunging Friday.

Investors worry that Amazon, which has already won over hordes of shoppers of clothing, electronics and many other kinds of goods, wreaking havoc on department stores and other brick-and-mortar retailers, will do the same thing with groceries.

Here's a look at some of the big moves in the stock market following news of Amazon's acquisition of Whole Foods Market.

THE BUYER:

-Amazon. Investors like the deal and think it will be good for the online retail giant, which has been expanding its grocery offerings. Amazon's stock, which recently traded over $1,000 for the first time, rose $23.54, or 2.4 percent, to close at $987.71.

THE ACQUISITION TARGET:

- Whole Foods Market. The natural foods retailer helped start a trend toward natural and organic foods, but its stock has struggled in recent years and recently the company shook up its board and said it would cut costs. The stock peaked at $65.24 in October 2013 and traded as low as $28.53 in March. On Friday it soared $9.62, or 29 percent, to $42.68, above the $42 a share Amazon agreed to pay.

THE LOSERS:

- Wal-Mart Stores. The giant retailer sank $3.67, or 4.7 percent, to $75.24.

- Target. The retailer fell $2.85, or 5.1 percent, to $52.61.

- Costco. The wholesale club company gave up $12.95, or 7.2 percent, $167.11.

- Supervalu. The grocery store operator lost 54 cents, or 14.4 percent, to $3.22.

- United Natural Foods. The purveyor of natural and organic foods suffered gave back $4.36, or 11 percent, to $35.39.

- Kroger. The grocery store chain declined $2.27, or 9.2 percent, to $22.29.

- Sysco. The food distributor sank $1.15, or 1.2 percent, to $54.38.

- Cal-Maine Foods. The egg producer fell $1.75, or 4.5 percent, to $37.35.

- CVS Health. The drugstore company lost $3.03, or 3.8 percent, to $77.06.

© 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

  • 490 First Avenue South
  • St. Petersburg, FL 33701
  • 727-893-8111