The S&P 500 (^GSPC) reached 2,000 for the first time in intraday trading. This comes after it closed lower on Friday. The S&P closed at a record high of 1992.37 on Thursday.
Burger King (BKW) is in talks to buy the Canadian-based coffee shop Tim Hortons (THI). The inversion deal would move Burger King's headquarters to Canada to take advantage of a lower tax rate. Burger King isn’t the only firm interested in moving to another country to pay lower taxes. U.S.-based AbbVie (ABBV) acquired the U.K.’s Shire (SHPG), and Medtronic (MDT) agreed to buy Ireland’s Covidien (COV). The Obama Administration has been vocal in its opposition to these deals, calling on companies to engage in "economic patriotism."
McDonald's (MCD) is having trouble with millennials. According to data compiled for The Wall Street Journal, the fast-food chain is loosing younger customers to supposedly fresher fast-food alternatives like Chipotle (CMG) and Five Guys. We want to hear from you. Can McDonald's win over Millennials? Vote in our poll, and let us know in the comments below or on Twitter.
Amazon (AMZN) is trying to hit Google (GOOGL) where it hurts: in its $50 billion online ad business. The Wall Street Journal reported Amazon is testing ad software that would leverage its user base of approximately 250 million active users. The Journal said Amazon plans to first remove the Google ads on its own site, replacing them with its own ad software. That software could then be available to others.
- Burger King
- Tim Hortons