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The Capitalist Newsletter – June 7, 2017

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AMAZON GUNS FOR WALMART; OFFERS HALF PRICE PRIME MEMBERSHIPS FOR CUSTOMERS ON GOVERNMENT ASSISTANCE

Amazon has been a low price leader for years. But now, the online retailer looks to steal Walmart’s target demographic with a new program to bring in customers on government assistance programs. But can these budget-restricted users really provide value for Amazon? There’s an interesting thought process behind Amazon’s turf war with Walmart, and the plan may not be as magnanimous as people might think…

Read The Capitalist’s Take Here

Read More at TechCrunch Here

Read More at CNBC Here


UBER FIRES 20 EMPLOYEES AMID SEXUAL HARASSMENT ALLEGATIONS

Uber is acting swiftly after an investigation substantiated many reports of sexual harassment at the company.

Uber has fired 20 employees based on the investigation’s findings, a person with knowledge of the matter confirmed to CNN Tech. At a staff meeting on Tuesday, employees were notified that 215 harassment claims had been investigated. The source said that 100 required no action, 57 were still being reviewed and 31 people were in training or counseling. Bloomberg was first to report the news on Tuesday.

The 215 claims included discrimination, unprofessional behavior and bullying — as well as sexual harassment, according to a source who attended the all hands meeting.

Read More at CNN Here

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Read More at NY Times Here

Read More at NBC News Here


ANTHEM TO EXIT 2018 OBAMACARE EXCHANGE IN OHIO; LEAVES 20 COUNTIES WITH NO COVERAGE

Anthem on Tuesday announced it would not participate in the individual health-insurance exchanges in Ohio for the 2018 plan year. That could leave 20 counties in the state without any plans on the marketplaces established by the Affordable Care Act, the healthcare law better known as Obamacare.

In a statement to Business Insider, Anthem cited “continual changes in federal operations, rules, and guidance” as its primary reason for exiting the marketplaces.

Read More at Business Insider Here

Read More at Fox Business Here

Read More at NY Times Here


Closing Bell

– Tuesday, June 6th

Markets Drop DOWN While Gold Rallies Up

Big Insider Trades

– Costco Wholesale Corp. (COST)Principal Accounting Officer Daniel Hines Sells $1m

– American Assets Trust, Inc. (AAT) CEO Ernest Rady Buys $1.2m

Winners & Losers

– Egalet corp. (EGLT) Rises UP (17.02%) After Announcing Patent of Proprietary Guardian Technology, Which Provides Faster Drug Delivery for Oral Medications

– CTI Biopharma Corp. (CTIC) Drops DOWN (20.15%) on Offering of Minimum $45 Million Convertible Preferred Stock

Most Talked About

Ballard Power Systems, Inc. (BLDP) Considered a Near Unanimous Strong Buy After Securing $18M Follow-On Deal With Broad-Ocean

The TIP Sheets

– Tuesday, June 6th

– Oclaro, Inc. (OCLR) Rises UP (8.71%) After One of its Biggest Clients Secured a Deal to Build a Sophisticated Fiber Optic Network For China Telecom. As the Client’s Main Supplier, Expect Shares to Continue UP

Unusual Volume

Macy’s, Inc. (M) Drops DOWN (8.21%) on 30m Shares Traded After Warning Investors that Profit Margins are Shrinking. Given its Current Retail Woes, the Company Just Hit a 6 Year Low. Expect Shares to Continue DOWN

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