Today we are watching…
1. Amazon (#amzn)
If you’re in the market for a new oven, Amazon has you covered. At its annual hardware event yesterday, the king of e-commerce announced an Echo line of home devices and a pair of wireless earbuds, which are all unapologetic attacks on tech competitors. Other products are more ideas on trial, such as a smart oven, a dog tracker, glasses with in-built mics, and Alexa embedded in a fashionable ring. With few fearsome competitors to worry about, Amazonians may be trying to pass the time! Still,even the dog tracker will help retain some consumers in Amazon’s ecosystem and that will satisfy shareholders waiting patiently for more lucrative profits. The oven is $249, to save you asking.
2. Rite Aid (#rad)
How do you get consumers enthusiastic about visiting a pharmacy? Any suggestions would be greatly appreciated by Heyward Donigan, Rite Aid’s new white knight CEO tasked with saving the company from a slow, agonizing death. Huge interest payments on a mountain of debt won’t leave her much left to invest in new ideas, and many investors can’t take the pressure. The brave market players who remain in the stock must passionately believe in Donigan’s unparalleled healthcare sector experience. Today, albeit a week late, she’s revealing earnings. Expectations are low, with analysts projecting $0.08 in profit per share on $5.4 billion in revenue, but some precious goods news could see Rite Aid sky-rocket.