Amazon's acquisition of Whole Foods Market sent the stocks of grocery store operators and other companies that compete with Whole Foods plunging. Investors worry that Amazon, which has already won over hordes of shoppers of clothing, electronics and many other kinds of goods, wreaking havoc on department stores and other brick-and-mortar retailers, will do the same thing with groceries.
Here's a look at some of the big moves in the stock market following news of Amazon's acquisition of Whole Foods Market.
- Amazon. Investors like the deal and think it will be good for the online retail giant, which has been expanding its grocery offerings. Amazon's stock rose $23.54, or 2.4 percent, to close at $987.71.
- Whole Foods Market. The natural foods retailer helped start a trend toward natural and organic foods, but its stock has struggled in recent years and recently the company shook up its board and said it would cut costs. The stock peaked at $65.24 in October 2013 and traded as low as $28.53 in March. On Friday it soared $9.62, or 29 percent, to $42.68, above the $42 a share Amazon agreed to pay.
- Wal-Mart Stores. The giant retailer sank $3.67, or 4.7 percent, to $75.24.
- Target. The retailer fell $2.85, or 5.1 percent, to $52.61.
- Costco. The wholesale club company gave up $12.95, or 7.2 percent, $167.11.
- United Natural Foods. The purveyor of natural and organic foods suffered gave back of $4.36, or 11 percent, to $35.39.
- Kroger. The grocery store chain declined $2.27, or 9.2 percent, to $22.29.
- Sysco. The food distributor sank $1.15, or 1.2 percent, to $54.38.