General Mills

Walmart Tumbles After Amazon Says It Will Cut Whole Foods Prices Monday

Walmart stock is getting whacked, as is the broader grocer sector, after Amazon announced moments ago that the acquisition of Whole Foods will close on Monday, and that in keeping with the company's tradition of stealing market by underpricing its competition, it will cut prices at Whole Foods once the deal closes.

Global Stocks Rise; Euro Surges To 6 Week High After French Presidential Debate

European stocks are modestly in the green as gains in banks and oil companies offset declines in miners. Asian stocks and S&P futures rise with Emerging-market stocks extending their longest winning streak since August on the back of the 5th consecutive daily drop in the USD. The euro rose to the strongest in six weeks after a French presidential debate eased market concerns about a possible Le Pen win.

Unilever Shares Soar After Kraft Heinz Confirms £112BN Takeover Bid; Options Confirm Leak

Unilever shares soared this morning after food conglomerate Kraft-Heinz, backed by Warren Buffett and Brazil's 3G, confirmed it made a £112bn takeover offer for Unilever, leading to a 11% surge in the shares of the London-listed Anglo-Dutch conglomerate, the biggest one day surge since 1987. Shares of Kraft Heinz rose over 4% premarket in New York.

S&P Futures Rise Propelled By Stronger Dollar; Europe At 1 Year High As Yen, Bonds Drop

It appears nothing can stop the upward moment of equities heading into the year end, and as US traders walk in, S&P futures are again higher, proppeled by European stocks which climbed to their highest in almost a year, while the USD rose and bonds and gold fell, failing again to respond to terrorist attacks in Ankara, Berlin and Zurich. The yen tumbled after the BOJ maintained its stimulus plan.

Wells Fargo CEO John Stumpf To Retire Effective Immediately

The most anticlimiatic and predictable outcome to the biggest banking scandal to rock Wall Street in recent years, Wells Fargo;s fraudulent creation of 2 million (or more) fake customer accounts, has just concluded in the only possible way: with CEO and Chairman John Stumpf retiring.

Venezuela Seizes Local Kimberly-Clark Factory

Just hours after Kimberly-Clark, the consumer-products giant that owns Kleenex and Huggies, said it will shutter its Venezuela operations after years of grappling with soaring inflation and a shortage of hard currency and raw materials, Venezuela retaliated by announcing it would seize the factory.

Frontrunning: May 20

  • Lacking new ideas, G7 to agree on 'go-your-own-way' approach (Reuters)
  • Japan's Aso tells G7 FX stability vital, no competitive devaluations (Reuters)
  • Snubbed by West, Russia rolls out red carpet for Asian leaders (Reuters)
  • The Fed Has Something to Prove to Wall Street (BBG)
  • Trump's Supreme Court list: all conservative, some provocative (Reuters)
  • Nasdaq Raises Lawsuit Threat Over SEC’s IEX Speed-Bump Plan (WSJ)

Frontrunning: March 21

  • Oil Drops With Emerging-Market Currencies on Rig Recovery Signs (BBG)
  • A plea for help - How China asked the Fed for its stock crash play book (Reuters)
  • Obama to meet Raul Castro on historic Cuba trip (Reuters)
  • Wall Street's Pile of Unwanted Treasuries Exposes Market Cracks (BBG)
  • Dimon's Timing Looks Savvier by the Day as Equities Rebound (BBG)

A Disaffected Democrat Deplores His Potemkin Party Of Populism

This period of history resembles the 1850s in America in two big ways: 1) our society faces a crisis, and 2) the existing political parties are not up to the task of comprehending what society faces. In the 1850s it was the Whigs that dried up and blew away (virtually overnight), while the old Democratic party just entered a 75-year wilderness of irrelevancy. God help us if Trump-o-mania turns out to be the only alternative.

America, You're Fired!

They call it "voting," and we're told it's our civic duty. But it's just an illusion. Just like in Caesar’s time, the election will go to the people who spend the most money. But we're not talking about the candidates. They're just puppets. Entertainers. We're talking about the people who bankroll them.