Embattled organic grocer Whole Foods (WFM) has had a rough few months, down over 33% so far this year. So why is the stock up nearly 5% today? There are rumors all across the web that the one and only Carl Icahn in interested in the chain. Let those who are long Whole Foods bask in the glow while they can.
According to sources familiar with the situation Mr. Icahn has absolutely no interest in Whole Foods whatsoever. The troubles Whole Foods is having with low margin (as with any grocer) and increased competition in the organic space seem to be destined to continue with no caped financial superhero on the way to bail them out. Or at least not Mr. Icahn.
UPDATE: Since we first reported Mr. Icahn's lack of interest in Whole Foods the company's stock has given back some of it's intraday gains.
Related: There’s a bull case for Whole Foods
Other stocks that are trending today as measured by Yahoo Finance ticker searches include:
Target (TGT) - Shares are down 3% after the Minneapolis retailer warned for the second quarter. In a press release the company said the infamous Christmas data breach would cost it $110 million. For good measure Tarjay said sales were weak in the US and Canada and basically nothing is going right. Taking down expectations is right out of the new CEO playbook but at least for the moment Wall Street doesn't want to give Target the benefit of the doubt.
Coach (COH) - Shares are ripping higher after the makers of the man bag managed to beat expectations that the company itself had lowered on multiple occasions. Nothing in the report suggests business is getting better, sales dropped 16% in the US, but with so many traders shorting the stock mere survival is enough to push Coach stock 5% higher today.
- Consumer Discretionary
- Whole Foods
- Carl Icahn