Walmart Stores Inc. (WMT) has created a new variety of non-GMO cantaloupe to avoid winter melons that look good but taste "like wood," Bloomberg reported.
As the biggest grocer in the U.S., Walmart has the means to generate its own fruit. The company partnered with Bayer AG (BAYRY) and created the Sweet Spark, a cantaloupe that tastes 40% sweeter than the average winter melon.
Melons are sweeter in the summer because Walmart can source them from U.S. farmers who focus on flavor instead of appearance. But in the winter, conditions aren't warm enough here. Melons have to be shipped from far distances where farmers don't have the luxury of focusing on sweet flavor.
This move is part of a continued effort to polish Walmart's produce section, which is the first section customers see. Plus, not even Amazon.com (AMZN) can engineer a melon to taste as sweet in January as it does in June.
What's Hot on TheStreet
Respect the stock charts: Don't feel too relieved by volatile tech name Nvidia (NVDA) finishing in the green on Monday after a violent selloff.
Nvidia underwent a "key reversal" on Friday that could send the stock plunging another 36%, BMO technical analyst Russ Visch said in a new note. Visch points out that normally, these pullbacks tend to lead to the stock falling back to its 200-day moving average. In the case of Nvidia, the 200-day moving average is $96.70, or $36% below Monday's closing price of $149.97. "Considerable downside risk exists here," said Visch.
On Friday, shares of Nvidia were off to another big rally, hitting new all-time highs of $168.50 following an analyst pontificating the stock could surge to $300. But the party abruptly ended Friday afternoon and continued into most of Monday's trading session. The reversal in one of the hottest tech stocks around spooked the market, pressuring shares of other high-flyers in the space such as Amazon (AMZN) and Apple (AAPL) .
Apple and innovation: The reality of the here and now is that the public and would-be buyers of Apple's stock harbor greater doubts about Apple's ability to innovate than in many years, reports TheStreet. Apple did nothing to quiet those concerns by introducing its new voice activated speaker, sources explained to TheStreet.
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