Amazon.com (AMZN - Get Report) is planning a major roll-out of an online grocery business that it has been quietly developing for years, Reuters reported, citing two people familiar with the situation. One of the people familiar with AmazonFresh's expansion plans told Reuters that new warehouses will have refrigerated areas for food, but also space nearby to store up to 1 million general merchandise products, in some cases. The company has been testing AmazonFresh in its hometown of Seattle for at least five years, Reuters noted.
IBM (IBM - Get Report) is buying cloud computing company SoftLayer Technologies, which has 13 data centers in the U.S., Asia and Europe, for an undisclosed amount. Reuters had reported in March that IBM was among several suitors for SoftLayer in a deal that could go for more than $2 billion. The acquisition is expected to be completed in the third quarter.
Homebuilder Hovnanian (HOV - Get Report) is expected by analysts to report on Wednesday a fiscal second-quarter loss of 5 cents a share on revenue of $408.6 million.
Brown-Forman (BFB), the maker of Jack Daniels whiskey, is forecast to report fiscal fourth-quarter earnings of 46 cents a share on revenue of $861.7 million. 5 Stocks Set to Soar on Bullish Earnings
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