Market Overview

Here's Every Whole Foods Rumor Of 2016

Here's Every Whole Foods Rumor Of 2016

Whole Foods Market, Inc. (NASDAQ: WFM) had the rumor mill working overtime the whole of 2016 and the rumors were mostly centered on the M&A front, with the company being touted as a takeover target.

Although the stock has seen small bounces around the breakout of each rumor, it is in the red for the year-to-date period. The lackadaisical showing of the stock can be traced to the industry-wide issues plaguing food retailers.

As the year draws to the close, Benzinga chronicled the Whole Foods rumors that swirled around the Street and kept investor interest piqued:

  • Though not related to M&A, as early as March this year, the stock rose intra-day and gave back its gains before ending almost flat. The move came after there was market chatter the company might be losing market share to Costco Wholesale Corporation (NASDAQ: COST) and Kroger Co (NYSE: KR).
  • On April 28, the stock topped the $30 barrier before pulling back and settling just below the level amid unconfirmed speculation that some traders were discussing activists' interest in it.
  • The stock was once again in the spotlight on June 14, when it fell roughly 3 percent despite speculation that the company said in a reply to the FDA letter that it takes violations seriously.
  • The company had to wait only less than a month for another rumor to break out. On July 1, Benzinga Newsdesk sensed several rumors about the company. The trading community speculated that Publix Super Markets Inc. (OTC: PUSH) could make an offer for Whole Foods.
  • Again on September 8, the stock bounced around, with traders quick to note that renewed takeover chatter was proving salubrious for the stock.
  • In less than a month on October 6, the stock rose 2 percent on the chatter over purported interest in the company.
  • The very next day, there was a rumor reported in dealReporter suggesting a Kroger takeover of Whole Foods may not materialize.
  • On November 4, Bloomberg reported that Whole Foods may be looking to sell itself.
  • November 11 saw the rumor of the company receiving an unsolicited bid from a hedge fund manager. However, Business Insider, which had quoted SumZero, said a hedge fund manager has laid out short story on the company.
  • Whole Foods is in the news yet again on Thursday, as M&A chatter is once again heard.

At time of writing, Whole Foods was up 1.43 percent at $31.66.

Posted-In: Bloomberg dealREPORTERM&A News Rumors Movers Media Trading Ideas Best of Benzinga


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