DOJ Expands Beef Price Probe to Walmart, Amazon, Costco and Other Major Retailers
The Daily Hodl·- The U.S. Department of Justice expanded its antitrust probe into high beef prices by requesting 6 years of records from eight major retailers, including Walmart, Amazon, and Costco. - The investigation targets retail sales, wholesale costs, profit margins, and pricing strategies to address critical consumer concerns regarding expensive beef. - This inquiry follows a previous May investigation into meatpackers amid tightening supply caused by a shrinking U.S. cattle herd, drought, and a screwworm outbreak.Canada Pension Plan Investment Board Invests $857.64 Million in Costco Wholesale Corporation $COST
Market Beat·- Canada Pension Plan Investment Board acquired a new stake of 916,798 shares in Costco Wholesale Corporation, valued at approximately $857,637,000 during the second quarter. - Costco reported strong August net sales with a 9.9 % year-over-year increase, alongside ongoing developments such as a Department of Justice beef-pricing antitrust inquiry and insider stock transactions. - Institutional investors currently own 68.48 % of the company's stock, which maintains a market capitalization of $406.11 billion and a consensus analyst rating of Moderate Buy.Is the stock market open on Labor Day? What about bond trading? Will the post office deliver mail?
MarketWatch·- Major U.S. financial markets, including the New York Stock Exchange, Nasdaq, and bond markets, will be closed on Monday, Sept. 7, for Labor Day. - Essential services such as the U.S. Postal Service, FedEx, UPS, and Federal Reserve banks will suspend normal operations for the holiday. - Most retail stores will remain open with promotional sales, whereas Costco will be closed and certain grocery stores will operate on modified hours.