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Jeff Bezos must be losing his marbles. Amazon is buying Whole Foods, the high price leader of groceries, for 13.7B. He is paying for the purchase with new DEBT for Amazon.
I'm speechless. This guy is insane. How is this going to make Amazon profitable? Whole Foods is already on a declining trajectory because people do not want to spend their Whole Paycheck (WF nickname) for some organic mumbo-jumbo.
Wall Street disagrees.
"Insane" Bezos is now the world's 3rd richest man.
Wall St is crazy. A 3% pop in AMZN stock price because they are getting into the grocery business? That pop will not last. Owners of WFM stock made out like bandits, though.
Karl Denninger is comparing the AMZN/WFM deal with the AOL/TIme-Warner deal in terms of the magnitude of the foolishness and the resulting carnage in company valuation. He might just be right about that.
S&P is placing Amazon on credit downgrade watch due to the 13.7B of new debt required to purchase Whole Foods Markets
http://www.zerohedge.com/news/2017-06-16/sp-warns-it-may-downgrade-amazon
I'm fascinated by their new "unstores". Talk about just in time inventory... the unstores have no inventory at the store, no cashiers (and, in theory) no lines. The customer shops before noon and pickups later in the day.
Wow-That is bad-why is their stock so high then? At least Apple, Google all have tremendous profits?
lostand confused saysWow-That is bad-why is their stock so high then? At least Apple, Google all have tremendous profits?
Apple could purchase Cisco in its ENTIRETY with its cash alone.
Amazon announces earnings one week from today, on Oct 26. The stock has now dropped two days in a row. Amazon is usually very successful at pumping their stock before the earnings announcement is made, using a series of well-timed (although often fluffy and immaterial) press releases that appear designed to create buzz about the company. But this quarter the usual recipe does not seem to be working. This could get "interesting".
So the motivation to be this way is gaining share of market where the margins are collapsed? This sounds like killing an industry so you can lead it.
Any comments on WTF are they trying to do really?
Amazon keeps dropping, down to 966 level a few minutes ago. Earnings report on Thursday after market close.
Unstores. Ha. More like "Unprofits".
"Investors" are buying now so they can dump it during or after the buyback. And this improves the economy how?
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Amazon.com Inc.'s stock AMZN, +1.43% climbed 1.5% in after-hours trade Wednesday, after the e-commerce giant announced a new $5 billion share repurchase program. The company disclosed in a regulatory filing that the new program, which does not have a fixed expiration, replaces the previous $2 billion program announced in 2010. The stock, which closed Wednesday's regular session up 1.7%, has tumbled 26% over the past three months, while the S&P 500 has lost 11%.
http://www.marketwatch.com/story/amazons-stock-climbs-after-new-share-buyback-announcement-2016-02-10
My take: Jeff Bezos is getting desperate after the price fell from 696 peak, to as low as 474 recently.
#buyback #justme #amzn #amazon #recurring