877-534-3700

Corporate News & Events: June 12 - 16, 2017

Monday, June 19, 2017

Amazon’s announced $13.7 billion acquisition of Whole Foods was the most market-influencing event of the week, surpassing even market reaction to the Fed interest rate hike. To be fair, everyone expected the Fed decision. Despite talk about Whole Foods needing to do something because of its poor performance, the Amazon deal came unexpectedly. We covered it in the Executive Summary so we’ll only note it again here because of its stock market and potential supermarket buying behavior impacts. Will Amazon disrupt grocers as it has retail? Seems like a good bet that it will.

Jeff Immelt is stepping down as head of GE, retiring at the end of the year. The current president of GE Healthcare, John Flannery, will be the new Chairmen and CEO.

McDonalds announced it plans to hire 250,000 employees this summer. It further said it will use Snapchat to lure millennial job seekers.

Verizon completed its $4.48 billion acquisition of Yahoo. Marissa Mayer is out, but she’s leaving with a $23 million severance agreement (what used to be called a “golden parachute”). Yahoo will be combined with AOL brands under a new subsidiary, called Oath. Former AOL CEO Tim Armstrong will head Oath, which will house over 50 media and technology brands.

In closing, the last item for the week is for sports fans. The Golden State Warriors won their second NBA championship in three years. They beat the Cleveland Cavaliers in five games, avenging their loss a year ago when they blew a 3-1 lead. This was the first time in NBA history that the same two teams met in the championship playoffs for three straight years. (Sports fans probably knew all that already. Maybe this is really for those of us who were too focused on watching the market.)


Sources:
The Wall Street Journal; The Wall Street Journal Online; Bloomberg News; BBC News; The Associated Press; Reuters.com; Crain’s New York Business; MFS research; NYSE; NASDAQ; Dorsey-Wright Associates; NYMEX.com; CNBC’s Power Lunch & Squawk Box programs; Investing.com; Markit.com; the New York Times; Standardandpoors.com; Djindexes.com; 247wallstreet.com; MarketWatch.com; Morningstar.com; Thomsonreuters.com; the Financial Times.com; Briefing.com; BusinessWeek.com; Dol.gov; Fxstreet.com; Streetinsider.com; Ycharts.com;
 
The data above were taken from sources deemed reliable. However no guarantee can be made as to their completeness and accuracy.
Nothing in the above is meant to be, nor should it be construed as, investment advice or recommendations to buy or sell any security. Individual securities, whenever mentioned, are for illustrative purposes only and may not be relied upon as investment advice.
All indices are unmanaged and are not illustrative of any particular investment. A direct investment cannot be made in any index.
Tax and/or legal information contained herein is general in nature and for informational purposes only. It should not be relied upon as advice. Consult your tax professional or attorney regarding your unique situation.
Past performance is no guarantee of future results.
 
© 2017 Jamison Financial Group. Please feel free to distribute copies to individuals you feel may benefit from the information presented. Commercial use is prohibited.