ย
Today we are watching…
1. FISย (#fidinfo)
Inquests into glitches on Fidelityโs online trading platform are ramping up. Stories are coming through of many customers who logged in to see their retirement accounts at balances of $0 yesterday, not what you want amid the chaos of a sell-off. The broker may have been protecting some panicked users from themselves, mind you, not returning its website to working order by midday and leaving countless users unable to panic-sell their shares as a result. There could be a big fine incoming from the Securities and Exchange Commission (SEC), but luckily, the switching costs for consumers are fairly high in this industry.
2. Mondalez International (#mondlz)
Most things in your local supermarket are owned by six or seven conglomerates. Mondalez is one of them. It dominates the confectionary aisle, operating Oreos, Toblerone, BetVita, and Cadbury, which in turn owns almost 30 brands. This is a stock for an investor with a sweet tooth, and even more so now that itโs added brownies to its menu. A buyout deal for Give & Go Prepared Foods was finalized last night, a fast-growing bakery based in Illinois. โThis is a unique opportunity to expand into a new, on-trend consumer space,โ said Glen Walter, executive vice president. โThis is yet another great example of our bolt-on acquisition strategy upping shareholder value.โ