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WFM

Whole Foods

$43.22

0.54 (1.27%)

, AMZN

Amazon.com

$995.17

7.46 (0.76%)

18:47
06/19/17
06/19
18:47
06/19/17
18:47

Whole Foods CEO on meeting with Amazon: 'Love at first sight'

In a regulatory filing Monday, Whole Foods (WFM) published a transcript of a June 16 town hall meeting, offering new details on how the company's acquisition by Amazon (AMZN) emerged. According to the transcript, CEO John Mackey stated during the town hall: "How did we meet? It was actually mutual friends set us up on a blind date. Jason Buechel and Ken Meyer and David Lannon and I flew up to Seattle a little over six weeks ago. And we just fell in love. It was truly love at first sight... We talked for 2.5 hours. I think we could have talked for 10 hours. When we huddled together, it was like we just had these big grins on our faces, like, 'These guys are amazing. They're so smart. They're so authentic. They say what's on their mind. They're not playing a bunch of BS games.' And it was like, 'This is gonna be so incredible.' Because we were talking about the things we can do together, things that I cannot talk about today and won't be able to talk about until this deal closes... This is kind of the dream come true. And I will tell you something. About a year and a half ago, I dreamed that we merged with Amazon. I woke up, and I told my wife about it."

WFM

Whole Foods

$43.22

0.54 (1.27%)

AMZN

Amazon.com

$995.17

7.46 (0.76%)

WFM Whole Foods
$43.22

0.54 (1.27%)

06/19/17
PIVT
06/19/17
NO CHANGE
Target $32
PIVT
Sell
Amazon could renegotiate or terminate United Natural contract, says Pivotal
Pivotal Research analyst Ajay Jain said regardless of the change of control provisions under United Natural Foods' (UNFI) contract with Whole Foods (WFM), there is no way to characterize the acquisition by Amazon (AMZN) as a non-event. Based on Albertson's United Foods contract cancellation in 2015, the analyst believes it will not be difficult for Amazon to renegotiate or terminate the United Natural Foods contract, if it so pleases. Jain said Whole Foods has more leverage over United Natural and the ability to demand further pricing concessions and will have more control over the supply chain through Amazon, making it unlikely the current agreement is truly binding. Jain rates United Natural Foods a Sell with a $32 price target.
06/19/17
KEYB
06/19/17
NO CHANGE
KEYB
Wal-Mart outlook still positive after Whole Foods deal, says KeyBanc
KeyBanc says that Wal-Mart (WMT) stock should be bought in the wake of the Whole Foods (WFM) deal, as the firm remains confident in Wal-Mart's ability to achieve 5%-9% earnings growth in fiscal 2018. The analyst says that the market shares of both Amazon and Wal-Mart have room to grow, and it believes that Amazon will continue to skew towards upper class Americans in the wake of the Whole Foods deal. The firm keeps a $90 price target and an Outperform rating on Wal-Mart.
06/19/17
PIVT
06/19/17
UPGRADE
Target $42
PIVT
Hold
Whole Foods upgraded to Hold from Sell at Pivotal Research
06/19/17
RBCM
06/19/17
NO CHANGE
RBCM
Wal-Mart, Costco could be hurt by Whole Foods deal, says RBC Capital
RBC Capital analyst Scot Ciccarelli warns that Wal-Mart (WMT) and Costco (COST) could be hurt by the Whole Foods deal. The analyst says that "combining Whole Foods' high-end reputation with a logistics juggernaut like Amazon is clearly a danger" to Costco and Walmart. He thinks that Whole Foods could extend the hours in which it allows customers to buy products online and pick them up in stores, and he thinks that food delivery could become much more popular in the wake of the deal. He notes that Wal-Mart has spent a great deal of time and money on "improving its fresh and omni-channel offerings." The analyst says that Costco will be more protected due to what he sees as its "differentiated retail experience."
AMZN Amazon.com
$995.17

7.46 (0.76%)

06/19/17
RBCM
06/19/17
NO CHANGE
RBCM
Food retailers, distributors weakness overdone, says RBC Capital
RBC Capital analyst Bill Kirk says that the weakness in food retailers and distributors in reaction to Amazon's (AMZN) acquisition of Whole Foods (WFM) was overdone. The analyst says he doesn't expect Amazon to "drastically change" the prices in Whole Foods' physical stores. Instead, he expects it to exploit the company's brand through Prime and its "high-population density real estate." Other food retailers include Sprouts Farmers Market (SFM) and Kroger (KR), while Smart & Final Stores (SFS) and Supervalu (SVU) are food distributors.
06/19/17
RBCM
06/19/17
NO CHANGE
RBCM
Amazon.com logistics to get boost from Whole Foods deal, says RBC Capital
RBC Capital analyst Mark Mahaney says that the acquisition of Whole Foods (WFM) will provide Amazon (AMZN) with "shipping-to-home logistics" opportunities and " a way to increase the utilization of its delivery capacity."

TODAY'S FREE FLY STORIES

DUK

Duke Energy

$85.96

-0.32 (-0.37%)

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PPL

PPL Corp.

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AEP

American Electric

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Ameren

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WEC

WEC Energy

$63.46

-0.17 (-0.27%)

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NSRGY

Nestle

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0.4 (0.47%)

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WFM

Whole Foods

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-0.255 (-0.59%)

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AMZN

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2.44 (0.24%)

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0.1 (0.26%)

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ALXN

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TKTDY

Takata

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TKTDY

Takata

$3.15

1.2199 (63.21%)

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TKTDY

Takata

$3.15

1.2199 (63.21%)

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TKTDY

Takata

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1.2199 (63.21%)

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IRDM

Iridium

$10.75

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TKTDY

Takata

$3.15

1.2199 (63.21%)

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Takata files for bankruptcy in U.S., Bloomberg says »

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SEAS

SeaWorld

$15.65

-0.16 (-1.01%)

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FB

Facebook

$155.07

1.67 (1.09%)

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FRO

Frontline

$5.59

0.08 (1.45%)

, GNRT

Gener8 Maritime

$6.12

0.21 (3.55%)

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FRO

Frontline

$5.59

0.08 (1.45%)

GNRT

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0.21 (3.55%)

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NSRGY

Nestle

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0.4 (0.47%)

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WMT

Wal-Mart

$74.84

-0.68 (-0.90%)

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GOOG

Alphabet

$965.59

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, GOOGL

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$965.59

8.5 (0.89%)

GOOGL

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NSRGY

Nestle

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LNG

Cheniere Energy

$47.62

0.34 (0.72%)

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VIA

Viacom

$39.15

0.1 (0.26%)

, VIAB

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DIS

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LGF.A

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$27.07

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LGF.B

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$25.38

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FOX

21st Century Fox

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FOXA

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SNE

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CMCSA

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CMCSK

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GSK

GlaxoSmithKline

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BHVN

Biohaven Pharmaceutical

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ESALY

Eisai

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PTNR

Partner Communications

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0.1123 (2.19%)

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