The U.S. markets were very quiet today, ending slightly up by the slimmest of margins. Even on a quiet day, here are my takeaways…
$1 Whole Foods became an attractive target to Jana Partners LLC, an activist investing firm. This is alarming to the Whole Foods board, but an encouraging sign for investors. Jana is appealing for a hastening of Whole Foods’ turnaround efforts and even suggesting entertaining a sale. Whole Foods stock was up 10.04% today….
$2 The world awaits continuing fallout from the U.S. strikes of a Syrian government-controlled air field. SecState Tillerson took a hard-line with Russia today as he prepares to meet with Russian officials in Moscow tomorrow. War would have a chilling effect on many markets globally, with doomsday commentators whispering of World War is Russia and the U.S. goes toe-to-toe. I see none of this occurring.
$3 Wells Fargo clawed back another $75MM from the former CEO and Deputy in charge during the “fake accounts” fiasco. The continued loss of customers and deposit outflows positions other retail banks to gain, such as Bank of America and Citibank. More bad before good for this bank, as multiple cities consider divestment from Wells over its financing of the Dakota Access Pipeline….
That’s all for now.