Business

Diamond Foods to be Acquired by Kellogg Corp in $1.5 Billion Deal

1B--Diamond Foods to be Acquired by Kellogg Corp in $1.5 Billion Deal

Diamond Foods and Kellogg Corporation is expected to strike a deal where the latter will pay about $1.5 billion for the acquisition.

While both the companies are tight-lipped over the matter as of now, sources said that the deal has almost reached at a final stage.

The acquisition amount could be about $1.5 billion that could equal $35 to $40 a share. Diamond’s share was leveled at about $1.1 billion when the market closed on Friday.

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Jeff Bezos is the Third Richest Man in US Surpassing Koch Brothers David and Charles

Jeff Bezos is the Third Richest Man in US Surpassing Koch Brothers David and Charles

After Warren Buffett and Bill Gates, the third position for being the richest person in America has been grabbed by Jeff Bezos, 51-year-old Founder of Amazon.com. On Friday, Bezos added $2.9 billion to his net worth leading to 86% increase in his fortune during 2015. According to the Bloomberg Billionaires Index, the giant e-commerce retailer’s stock price gained over $35 and pushed his wealth to$53.2 billion.

Decision of Oprah Winfrey to Join Weight Watchers Increases Company’s Shares by Twice

Weight Watchers stock jumps after Oprah Winfrey picks up stake in the company

With the Oprah Winfrey’s decision to join the board of the Weight Watchers International Inc. and take 10% Company’s stake, shares of the Company gets doubled last week. Though, the world’s most trusted celebrity is going to be the part of the Weight Watchers, it still need a lot for the weight-loss Company to revive.

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Third Quarter Brings Joy for Amazon Shareholders

Third Quarter Brings Joy for Amazon Shareholders

After reporting consistent losses in the past two quarters, Amazon.com brought in surprising third-quarter results with upsurge in the revenue and profit margins.

The company recorded a profit of $79 million, or 17 cents a share in the third quarter. The profits came majorly from the Amazon Web Services (AWS).

The AWS unit provides computing power and online storage facilities to companies. It recorded a revenue upsurge of 78% to $2.1 billion in the quarter. The unit’s operating income touched $ 521 million.

High-Profile Insider trading Case: US Prosecutors drop charges and convictions against 7 people

High-Profile Insider trading Case: US Prosecutors drop charges and convictions against 7 people

On Thursday, US prosecutors dropped an insider trading case against Michael Steinberg, who was earlier a portfolio manager at SAC Capital Advisors. The case has been dropped against six more people as the prosecutors have ruled out that the case was no long consistent with the law.

Uber CEO says Company Needs Some More Time to Go Public

Uber CEO says Company Needs Some More Time to Go Public

Uber Technologies Inc. said people should not expect it to go public soon as it still requires some more time to take this step. Uber Chief Executive Officer Travis Kalanick during a talk on Tuesday at the Wall Street Journal’s technology conference in Laguna Beach, California, said the company needs some more time. The company will take the decision to go public when it will feel the right time has come, Kalanick added.

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Michael Dell defends his company’s $67 billion planned acquisition of EMC from caustic comments by HP’s CEO Meg Whitman

Michael Dell defends his company’s $67 billion planned acquisition of EMC from caustic comments by HP’s CEO Meg Whitman

The Dell CEO and Chairman Michael Dell answered a few questions to kick of the company’s Dell World event. On Tuesday, he defended Dell’s $67 billion planned acquisition of EMC from caustic comments by HP’s CEO Meg Whitman. He emphasized on the Dell’s commitment to consumer and corporate PCs.

During the press event at Dell World, Michael Dell stayed silent on what he called version 1.0 of the ‘unifying theory of the universe’ that would come up as a result of the acquisition of EMC on the enterprise services, software and hardware side. But he promised more on Wednesday.

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Survey Finds Upsurge in Home Builder Index

Survey Finds Upsurge in Home Builder Index

A reason to cheer for the home building segment, a survey has revealed better prospects for income this year, indicating a speedy recovery in the builder morale.

The survey conducted by National Association of Home Builders/Wells Fargo Housing Market Index, found the index hitting 76 for the West in October. This index has gone up from 65 in September, last year.

The index is measured from 1 to 100. Any mark above scale of 50 is a good sign. During the 2009 recession period, the index had gone as down as 4. Earlier a high index reading of 81 was reported in 2005.

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Amazon Fighting Back On New York Times’ Investigation into Its Workplace Culture

Amazon Fighting Back On New York Times’ Investigation into Its Workplace Culture

Almost two months after the New York Times published an investigation into Amazon’s workplace culture, the retail giant is fighting back. The retailer claims that the investigation the paper has published in August about the company’s difficult work environment violated ‘Journalism 101’.

The New York Times called Amazon as a corporate behemoth. It also said the retailer exploits high-skilled workers and their employees are burdened with work stress.

Wal-Mart Stores squeezing Suppliers over price cuts and cost sharing

Wal-Mart Stores squeezing Suppliers over price cuts and cost sharing

Wal-Mart Stores (WMT.N) are compressing suppliers over price cuts and cost sharing. These suppliers include grocery seller to sports equipment. After a shock earnings warning from the retailer, they are under even more pressure to ratchet up.

The discount store has been known for demanding lower prices from vendors, but recently, it was revealed by Reuters in certain interviews with suppliers and consultants, and reviewing some contracts that this year Wal-Mart has been turning up the heat on them.

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