Discount giant Target may be struggling to compete with Amazon, but it’s finding other ways to fight the e-commerce giant. Target will scale back its use of Amazon Web Services and will take greater control over its online infrastructure and stop financing its chief rival. Among the cloud venders vying to nab Target’s cloud business, Microsoft’s Azure, Google, and Oracle. Target may not be able to compete head on with Amazon’s dominance in retail, but it and other corporate behemoth’s decision to move their cloud business elsewhere gives them a place to hit Amazon where it counts.
Medical consulting and software company, The Advisory Board Co, will split up and be sold in a deal worth $2.21 billon. The company’s health-care business will be sold to UnitedHealth Group and its education unit will go to private-equity firm Vista Partners. Vista Partners will pay around $1.55 billion for the educational side The Advisory Board, which focuses largely on colleges and universities. After that deal closes, UnitedHealth will complete its acquisition of The Advisory Board’s health operations, paying around $1.3 billion. The acquisition will raise questions with some Advisory Board clients, who currently entrust their data to the firm and rely on its to work to negotiating prices with big insurers like UnitedHealthcare.
Asia: Asian shares closed mostly higher on Wednesday after a positive handoff from Wall Street.
Europe: European markets closed lower on Tuesday as jitters over North Korea increased.
U.S: U.S. stocks closed higher on Tuesday after investors shook off North Korea and the sun started to shine in Houston. DJIA: +56.97 21,865.37 NASDAQ: +18.87 6,301.89 S&P: +2.06 2,446.30
Word of The Day:
Dow Jones Industrial Average (DJIA)
A price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. Invented by Charles Dow back in 1896.
Dinner or Drink:
Health Shake Martini
1 oz. vodka
1 oz. coffee liqueur
2 oz. green creme de menthe
2 oz. chocolate milk
Mix ingredients in a cocktail shaker that is 3/4 full of cracked ice. Shake well and pour into one chilled martini glass. Garnish with spearmint candy.