Walmart Stores Inc. (WMT) and The Kroger Co. (KR) were both rising in premarket trading Monday, rebounding from a dismal Friday downturn after Amazon.com Inc (AMZN) announced that it reached an agreement to purchase Whole Foods Market (WFM) Inc.
Walmart shares were up 0.4% premarket after falling nearly 5% in Friday's session, while Kroger shares were up 1.4% after falling more than 9% in the previous session.
Amazon announced that it was purchasing Whole Foods Friday in a deal that is valued at about $13.7 billion.
Shares of Costco (COST) also took a hit Friday, falling more than 7%, but shares remained nearly flat in premarket trading Monday.
What's Hot On the TheStreet
All eyes on Apple this week: Apple's (AAPL) stock will be on the minds of Wall Street bit more than the norm this week. Shares of the tech giant have fallen 6.9% since the Nasdaq's peak on June 8 amid a broader selloff in tech. Not helping near-term sentiment on the company are two rare analyst downgrades that have questioned how big a seller the iPhone 8 will be.
But investors shouldn't be ready to throw in the towel on Apple by any stretch of the imagination.
"When you have these sellers come in, all you have to do is wait them out -- and one of the things I learned as a hedge fund manager is that patience is a true virtue," TheStreet's founder Jim Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, said on Apple's recent slide.