U.S. markets closed

  • S&P Futures

    4,246.75
    +0.25 (+0.01%)
     

  • Dow Futures

    34,274.00
    -14.00 (-0.04%)
     

  • Nasdaq Futures

    14,039.75
    +9.50 (+0.07%)
     

  • Russell 2000 Futures

    2,316.60
    +0.90 (+0.04%)
     

  • Crude Oil

    72.71
    +0.59 (+0.82%)
     

  • Gold

    1,856.20
    -0.20 (-0.01%)
     

  • Silver

    27.76
    +0.07 (+0.24%)
     

  • EUR/USD

    1.2123
    -0.0010 (-0.08%)
     

  • 10-Yr Bond

    1.4990
    -0.0020 (-0.13%)
     

  • Vix

    17.02
    +0.63 (+3.84%)
     

  • GBP/USD

    1.4079
    -0.0003 (-0.02%)
     

  • USD/JPY

    110.1010
    +0.0670 (+0.06%)
     

  • BTC-USD

    40,102.57
    -156.19 (-0.39%)
     

  • CMC Crypto 200

    994.52
    -16.08 (-1.59%)
     

  • FTSE 100

    7,172.48
    +25.80 (+0.36%)
     

  • Nikkei 225

    29,367.50
    -73.80 (-0.25%)
     
Webinar:

Biden's budget and policy priorities

Yahoo Finance and The Bipartisan Policy Center on the budget and what may come on taxes, infrastructure, and more on 6/16 at 10 a.m. ET

Amazon in talks to buy online luxury retailer Net-a-Porter -Forbes

(Adds "no comment" from Net-a-Porter in paragraph 7)

March 27 (Reuters) - Amazon.com is in talks to buy online luxury retailer Net-a-porter in what could be the biggest acquisition yet for the e-commerce giant, but the negotiations are in early stages and could fall apart, Forbes reported, citing a person familiar with the matter.

The potential deal, first reported by Women's Wear Daily, could value Net-a-Porter lower than the valuation of 2 billion euros ($2.16 billion) reported by the fashion industry trade journal, Forbes reported on Thursday, citing the person. (http://onforb.es/1IBlus9)

Seattle-based Amazon has long eyed the high-end fashion retail sector and any deal for Net-a-Porter would mean a new commitment in an area where the company lacks a strong presence, Forbes said.

"It's Day 1 in the category," Amazon Chief Executive Jeff Bezos told the New York Times in an interview in 2012, saying the company was making a "significant" investment in fashion to convince top brands that it wanted to work with them, not against them. (http://nyti.ms/1IBnGjk)

Media reports in 2014 said Amazon was in talks to buy Indian fashion retailer Jabong.com for $1.2 billion.

Net-a-Porter is owned by luxury goods group Richemont , which bought the London-based company for 392 million euros in 2010.

A spokeswoman for Net-a-Porter said the company does not comment on industry speculation.

Amazon.com and Richemont could not be immediately reached for comment outside regular business hours. ($1 = 0.9243 euros) (Reporting by Ankush Sharma in Bengaluru; Editing by Anupama Dwivedi)

Recommended Stories

  • Why COVID Vaccine Stocks Dynavax, Novavax, and Vaxart Are Sinking Today

    Dynavax Technologies (NASDAQ: DVAX) stock was down 6.3% as of 11:26 a.m. EDT, while shares of Novavax (NASDAQ: NVAX) and Vaxart (NASDAQ: VXRT) were falling 7.8% and 10.6%, respectively. The declines for the biotech stocks appear to merely be run-of-the-mill volatility on a day when the overall stock market was down. Sales of its Heplisav-B hepatitis B vaccine were negatively impacted by the COVID-19 pandemic.

  • GE, Safran venture to develop radical new jet engine

    PARIS (Reuters) -General Electric and France's Safran has unveiled plans to test-build an open-bladed jet engine able to reduce fuel use and emissions by 20% as they prolonged their historic CFM International joint venture by a decade to 2050. The "RISE" engine, positioned as a possible successor to the "LEAP" model used on the Boeing 737 MAX and some Airbus A320neo, will feature a design with visible fan blades known as open-rotor and could enter service by the mid-2030s. The system will contain hybrid-electric propulsion and be capable of running on 100% sustainable fuel or hydrogen, an energy source favoured by Airbus for future concepts.

  • Dogecoin is the ‘bad boy of crypto’: Analyst

    Dogecoin has seen its value increase exponentially over the past year, but is it an asset worthy of serious consideration or a speculative bubble waiting to burst? One analyst thinks the latter.

  • 2 Stocks That Are Flirting With a Bottom; Analysts Say ‘Buy’

    Every investor knows that the path toward profits lies in buying low and selling high. That’s a basic precept of any economic trading system. The trick, however, is recognizing when the stock is low enough to buy in. The prime moment to buy is when the stock hits bottom; that will maximize returns when the share price starts to rise again. Wall Street’s analyst corps know this, and they are not shying away from recommending stocks that may have hit bottom. Using TipRanks database, we pinpointed

  • When Will Rolls-Royce Holdings plc (LON:RR.) Become Profitable?

    Rolls-Royce Holdings plc ( LON:RR. ) is possibly approaching a major achievement in its business, so we would like to...

  • 10 Best Steel Stocks to Buy Amid Upcoming Infrastructure, Construction Boom

    In this article we will take a look at the 10 best steel stocks to buy amid upcoming infrastructure, construction boom. You can skip our detailed analysis of these companies, and go directly to the 5 Best Steel Stocks to Buy Amid Upcoming Infrastructure, Construction Boom. Steel prices are soaring amid a rising demand as […]

  • Why Plug Power Stock Just Dropped

    What happened Shares of Plug Power (NASDAQ: PLUG) plummeted 5% in 12:30 p.m. EDT trading on the Nasdaq Tuesday. It's not hard to figure out why. As Reuters reported this morning, General Motors (NYSE: GM) is teaming up with Wabtec (NYSE: WAB) to supply "electric batteries and hydrogen fuel cell systems" for Wabtec's train locomotives, with deliveries set to begin as early as 2023.

  • Soaring home prices made you house-rich? Here's how to make the most of it

    You're living inside a giant piggy bank now — and have options for shaking out some cash.

  • It’s time to be smart like Soros in the ‘blow-off’ stage of the bull market in stocks

    Who is buying stocks and cryptos from me when I’ve trimmed and sold for the past month or so? Sure, there are banks and institutions and hedge funds and family offices investing and trading, just as always.

  • Exxon Stock Could Rise 40%, With Big Dividend Growth

    Bank of America analyst Doug Leggate says the oil company is likely to raise its dividend by the fourth quarter, capping a turnaround for the stock.

  • 3 Oil and Gas Stocks Ready to Bounce

    Despite a sharp slump in oil prices, the commodity is approaching significant technical support. Here are three trade setups to catch a bounce.

  • 3 Inflation-Resistant Stocks to Buy Right Now

    Investors might want an inflation hedge, and these three companies have additional reasons to own them.

  • Novavax Fell After Vaccine News. Rivals’ Stocks Tell the Real Story.

    If it is approved, the Novavax Covid-19 vaccine could sell for less than the versions based on messenger-RNA technology that are already in use.

  • Why Anavex Stock Nearly Round-Tripped Its Double-Digit Gain This Week

    Researchers featured a pair of Anavex Life Sciences drugs in a paper on Alzheimer's disease this week, but AVXL stock plunged.

  • Bill Gates’s beach reads: The fall of GE, Obama’s latest memoir and the ‘complicated relationship’ between humans vs. nature

    It seems Bill Gates has conflict on the brain. “Whatever the reason, most of the books on my summer reading list this year touch on what happens when people come into conflict with the world around them,” the Microsoft founder wrote in a blog post on Monday, where he revealed his summer 2021 reading list. Gates says that he has been drawn to works analyzing the “complicated relationship between humanity and nature,” which he suggests could be driven by how the coronavirus has upset lives and livelihoods over the past year, as well as his own push to prevent a climate disaster.

  • Buy Tesla Stock Following Model S Plaid Launch? Analyst Weighs In

    From the get-go, Tesla’s (TSLA) mission has been to stand out from the crowd; throughout the years, it has continued to do so in various ways. For one, obviously, it is a pioneer in the field of electric vehicles and a leader in electric vehicle battery technology. There are also few, if any, CEOs as magnetic as Elon Musk. Other OEMs are also constantly playing catch up with Tesla’s innovations, said Canaccord analyst Jed Dorsheimer following last week’s launch of Tesla’s fastest vehicle-to-date

  • Why Virgin Galactic Stock Dropped Today

    Shares of Virgin Galactic (NYSE: SPCE) retraced 4.4% Tuesday -- after rising 5% on Monday in response to the astounding success of rival Blue Origin's auction of its very first space tourism ticket. First: There was no good reason for Virgin Galactic stock declining today -- no analyst downgrades, no negative earnings news, no news at all, in fact. Consider that Blue Origin's magic ticket ended up selling for $28 million on Saturday.

  • Hedge Funds Keep Buying Roku, Inc. (ROKU)

    The Insider Monkey team has completed processing the quarterly 13F filings for the March quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors experienced strong gains on the back of a strong market performance, which certainly propelled them to adjust their equity holdings so as […]

  • Oracle stock falls despite earnings beat, CEO expects to push more money toward cloud efforts

    Oracle Corp. blew away expectations for earnings and sales to close out its fiscal year Tuesday, but shares still dipped as investors awaited the company's forecast to see if revenue growth is expected to continue at a similar pace.

  • Why Nikola Stock Dropped Tuesday -- Though Maybe It Shouldn't Have

    As of 11:50 a.m. EDT, Nikola shares were down 7.6%. There are two pieces of news today that are related to the use of hydrogen in transportation, which Nikola is counting on for its long-term success. First, in what could be potentially considered direct competition for Nikola, the Jaguar Land Rover automotive brand announced it is developing a hydrogen fuel cell electric vehicle (FCEV) based on its new Land Rover Defender sport utility vehicle.