Stocks (^DJI, ^GSPC, ^IXIC) are under pressure at the midday mark after Amazon (AMZN) earlier announced a $14 billion takeover of Whole Foods (WFM). Not surprisingly, consumer staples (XLP) are the most in the red, with Amazon’s competitors are taking a big hit. Energy (XLE) is the only sector in the green. Keith Bliss of Cuttone & Co. joins us live from the New York Stock Exchange. To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance Editor-in-Chief Andy Serwer as well as Yahoo Finance’s Rick Newman and Jen Rogers.
Today, Midday Movers discusses:
- Amazon to buy Whole Foods for $13.7B in all cash deal
- Amazon competitors down $28.5B in market cap today*
- Amazon buys Whole Foods: Market mechanics
- Stock sectors: Money flows in and out
- Facebook uses AI to battle terrorist propaganda
- Role of social media in terrorist propaganda
- Purina to digitally target dog and cat food buyers
* Based on market prices as of 11:30 am ET.