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Amazon Taking on Costco and Wal-Mart; Qualcomm Names New CEO

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Amazon (AMZN) may be deciding to give warehouse club stores Costco (COST) and Wal-Mart's (WMT) Sam's Club a run for their money. USA Today reports Amazon could soon be opening up a new business called Pantry that will specialize in consumer packaged good such as cleaning supplies, cereals, canned goods, and kitchen paper towel rolls. The service is reportedly set to launch in 2014 for its Amazon Prime members. Amazon finished the day up a little less than one percent.

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The CEO carousel continues to spin, this time at the world's largest chip maker for mobile phones, Qualcomm (QCOM). COO Steve Mollenkopf was promoted to CEO today, replacing Paul Jacobs who will step down March 4. Mollenkopf was rumored as one of the top candidates to replace Steve Ballmer as CEO of Microsoft (MSFT). Qualcomm finished the day flat Microsoft closed down a little more than 1%.

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