It has already been quite the start to the week.
From Amazon (AMZN) possibly looking to get into meal kits to challenge Blue Apron (APRN) to an activist battle at Procter & Gamble (PG) , there is no shortage of must-know news. Watch TheStreet's London Bureau Chief Martin Baccardax break it all down in his daily Facebook Live show "Five Before the Bell."
What's hot this morning...
Amazon wants to upend every business, or so it seems: New day, a new business Amazon wants to dip its toes in. The latest looks to be the meal kit space, TheStreet reports.
In a July 6 trademark application, Amazon subsidiary Amazon Technologies Inc. revealed it's planning "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or and [sic] vegetables...ready for cooking and assembly as a meal," as well as primarily grain-based offerings.
The product's tagline: "We do the prep. You be the chef." Amazon already sells other companies' meal kits, including Tyson Foods Inc.'s (TSN) Tyson Tastemakers. Martha Stewart is even offering meal kits on Amazon Fresh, the company's grocery delivery service. But, this may be the first hint of something bigger for Amazon, which would put it in direct competition with newly minted IPO Blue Apron.
Speaking at the National Governors Association Summer Meeting in Rhode Island on Saturday, Musk reiterated that shares of Tesla are trading at a level "higher than we have any right to deserve" based on optimism about the company's future.
"Those expectations sometimes get out of control," Musk added. Meanwhile, TheStreet reports Tesla could be at risk of a nasty surprise soon: the end of tax credits for electric cars in the U.S.
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