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Microsoft cuts 1850 jobs; HP Enterprise spin off; Whole Foods opens first 365 store

Yahoo Finance is tracking the stocks you’re following, based on your Yahoo Finance ticker searches.

Microsoft (MSFT) - The software giant will lay off up to 1,850 workers as it makes further cuts to what’s left of its mobile phone operations acquired from Nokia. Microsoft says it will take an accounting charge of $950 million related to the cuts.

HP Enterprise (HPE) – The company is spinning off its enterprise services business, and merging it with Computer Sciences Corporation (CSC). The deal, which is expected to close in March 2017, prompted two price target hikes, one from Mizuho (MFG) and the other from FBN Securities.

Whole Foods (WFM) – The company opened its first 365 store, aimed at urban millennials, today in Los Angeles. This is the first of several 365 stores. Whole Foods plans to open two in Washington and Oregon later this year, with 10 more locations planned for 2017.

Monsanto (MON) – Jefferies upgraded the stock to a buy from hold with a $132 stock price target. The investment firm says it’s “highly likely” that Bayer will reach a deal to acquire the company at $130 per share or greater.

Michael Kors (KORS) – The luxury retailer is on investors' radars following a report from Wedbush that says Nordstrom (JWN) is removing Michael Kors handbags from its stores at a rapid pace. This comes as Macy’s (M) offers discounts on Kors handbags due to oversupply.

 

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