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The Capitalist Newsletter – June 19, 2017

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AMAZON BUYS WHOLE FOODS FOR $13.7 BILLION; SENDS GROCER AND BIG BOX RETAIL STOCKS PLUNGING

First it was bookstores. Then retailers. Now, grocers. Amazon has experimented with various industries, but never really taken a deep dive like this. Amazon announced Friday out of the blue that it will acquire Whole Foods for $13.7 billion. The news sent shockwaves throughout the grocery industry, as well as with big box retailers, with Wal-Mart, Target, Costco, Kroger, and other competitors seeing shares plummet on the news. Now there’s speculation that another player might come in and outbid Amazon. Who could realistically make that happen? And who’s most likely to come out on top?

Read The Capitalist’s Take Here

Read More at USA Today Here

Read More at MarketWatch Here


SEVEN SAILORS FOUND DEAD AFTER US NAVY DESTROYER COLLIDES WITH SHIP OFF COAST OF JAPAN

Seven missing sailors from the USS Fitzgerald were found dead in flooded berthing compartments following the warship’s collision with a merchant vessel, a US military official said.

The Navy’s 7th Fleet said searchers found the bodies Sunday morning, Japan time, after the guided-missile destroyer returned to its base in Japan.

“This loss is something we all feel,” Vice Adm. Joseph Aucoin, commander of the US 7th Fleet, told reporters alongside the ship at Yokosuka Naval Base in Japan Sunday.

“We have found a number of the remains … of our missing shipmates, and our deepest sympathies go out to the families of those shipmates,” he said.

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Read More at CNN Here

Read More at Reuters Here

Read More at NBC News Here


GOOGLE SAID TO BE FACING RECORD HIGH E.U. ANTITRUST FINES BY AUGUST

European antitrust officials are preparing to hit Google with a potentially record fine by the end of August over some of the Silicon Valley giant’s search services, according to two people with direct knowledge of the case.

Margrethe Vestager, the European Union’s competition chief, is in the final stages of ruling on the case, said the people, who spoke on the condition of anonymity because they were not authorized to talk publicly. Any financial penalty is expected to be larger than the fine of 1.06 billion euros, now about $1.2 billion, then about $1.4 billion — at the time the highest ever — that Intel was forced to fork out for antitrust abuses in Europe in 2009.

Read More at NY Times Here

Read More at CNBC Here

Read More at Wall Street Journal Here


Closing Bell

– Friday, June 16th

Markets See Flat Finish as Amazon/Whole Foods Deal Sends Shockwaves Across Industries

Big Insider Trades

– Electronic Arts, Inc. (EA) CFO Blake Jorgensen Sells $1m

– Revlon, Inc. (REV) Director Ronald Perelman Buys $1.2m

Winners & Losers

– Celsion Corp. (CLSN) Rockets UP (56.10%) on News of the Company’s Filing for a Stock Offering Withdrawal

– Smart & Final Stores, Inc. (SFS) Tumbles DOWN (18.75%) after Amazon Announces Acquisition of Competitor Whole Foods

The TIP Sheets

– Friday, June 16th

– The Kroger Co. (KR) Slides DOWN (9.24%) on Amazon/Whole Foods Deal. But that Deal Will Take Months to Close. So in the Meantime, Expect Shares to Bounce Back UP

Unusual Volume

Whole Foods Market, Inc. (WFM) Soars UP (29.10%) on 129m Shares Traded After Announcing Acquisition by Amazon for $13.7 Billion. Expect Shares to Continue UP

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