New day, a new business Amazon (AMZN) 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 is 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 (APRN) . Shares of Blue Apron crashed as much as 7% on the news.
Yours truly is all for creating new businesses -- and winning. But, at the rate Amazon is going, it may disrupt every single industry -- materially -- within the next 10 years. Just look at the seven companies Amazon has helped torch this year alone. That said, it's time to call a spade a spade -- Amazon is very close to a monopoly that should be looked into by the government. Like the Microsoft (MSFT) monopoly deep dive that occurred many years ago.
For if something isn't done, Amazon will own the entire apparel industry, operating it out of former Macy's (M) stores. While it's selling bras and panties for $90 each because of its monopoly, it will be offering $10 bananas from the nearby Whole Foods Amazon Market down the road.
Here comes the inflation.
What's Hot On TheStreet
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.
Procter & Gamble under siege: Peltz's Trian Fund Management plans to launch a fight for a board seat at Procter & Gamble (PG) , making it the largest company to face a proxy battle, The Wall Street Journal reported Monday.
Trian, which owns about $3.3 billion of P&G stock, is said to be seeking a single board seat for Peltz at the company's annual meeting that could take place in October. P&G have reportedly been in talks for five months, but the company is said to have rejected to name Peltz as a director last week.
Sales at P&G -- and its stock price -- have stalled due to pricing pressure and competition.
As TheStreet's Ron Orol reported in June, look for the consumer packaged goods company to announce plans for spin-offs, sales or even a swap out of business units. If major M&A doesn't come soon, a Trian director-battle or white paper chock full of activist demands could be next.
Visit here for the latest business headlines.