Its shares made noise with their first positive day yet (up 8% Tuesday). So did most other stocks as the Dow rebounded by 207 points while investors relaxed mid-trade-war.
Tou-freaking-ché… A month after Amazon announced it’ll cut shipping time in half for Prime members, Walmart countered: Free next-day delivery to anyone in Vegas or Phoenix on 220K items (as long as you spend $35). By next year, 75% of Americans will have access to 1-day shipping. Your move, @JeffBezos.
Speed kills... Walmart's move is expensive (for Walmart), but it could stop Walmart-faithful from defecting to Amazon. Here's the expected bill:
Thank competition... Amazon liberated the world from late-night toilet paper runs, earning it 47% of all US online sales today. But Walmart has upped its ecommerce game — buying Jet.com for $3B, renovating its website, launching online grocery pickup, and (now) free 1-day shipping. That keeps Amazon honest. Bezos can't just jack up Prime prices and lie back on 2-day delivery. When Amazon and Walmart compete, lazy online shoppers win.
Top 10 lists are fun... This one isn't. A California jury awarded $2B from Bayer to two non-Hodgkin Lymphoma suffers. Blame Bayer's Roundup weedkiller for causing it (according to the verdict). It’s the 8th biggest product-defect award ever, so Bayer’s appealing as its shares fell 2% Tuesday.
FYI, the World Health Org. thinks Roundup probably causes cancer. America’s EPA doesn’t.
What’s the return policy on Monsanto?… Germany’s top chemical company was built through the humble invention of Aspirin in 1899. A century later, Bayer dabbled in high-finance by acquiring US-based Monsanto last year for $66B. Here's what it's received from the St. Louis company:
Look out for major baggage… The merger and acquisition process involves “due diligence” — pretty much a full corporate checkup to make sure there’s nothing unexpected in the company being acquired. Bayer missed this giant legal liability when it acquired Monsanto. Look out for weeds.
Unpop the collar... Ralph Lauren's latest quarterly earnings would impress Anna Wintour: Revenues beat analysts' expectations and profits hit $32M. It's even gift-bagging that all for Ralph Lauren shareholders by increasing the dividend they receive by 10%. Then shares fell 4% off the catwalk.
Malloting a croquet ball while riding a purebred steed... Doesn't really work for post-Millennial Gen Z. Ralph knows it needs to replace aging customers with young blood. Here's its approach, which its CEO calls the "Next Great Chapter Plan":
Not all sales are created equal... Although investors were impressed by two of the big items (sales and profits), they were bummed to see sales drop in Ralph's home closet. That's a sign that the fundamental changes the company's working on might not be working.
Today's 15-minute Snacks Daily pod: