The GOP tax bill is looming this week as Congress will vote to either pass or reject the tax overhaul that will lower taxes for corporate America. Economists and analysts have issued warnings regarding the bill, which could increase federal debt and slash spending on social programs, thus creating a larger divide between rich and poor in the U.S.
Several companies had news over the weekend over a probe, an untimely death and a potential acquisition, including Amazon.com, Inc. (NASDAQ:AMZN), CSX Corporation (NASDAQ:CSX) and Humana Inc (NYSE:HUM) respectively.
Here’s what went down:
Amazon.com, Inc. (AMZN)
Amazon may be facing a probe over some of its Prime members being dissatisfied with the company’s services.
The UK-based Advertising Standards Authority may investigate the e-commerce retailer as it has received a number of complaints regarding the premium service failing to deliver items on time.
The problem is being magnified at the moment as some fear that the company won’t deliver holiday gifts with one week left before Christmas. The move is in regard to Amazon’s “unlimited one-day delivery,” which has failed to meet its lofty standards.
“We have received a handful of complaints,”said a spokeswoman for the Advertising Standards Authority (ASA). “We are considering whether to launch an investigation.”
With its one-day delivery option, Amazon claims you can order as late as Friday for Christmas delivery.
AMZN stock has gained 4.4% over the last 30 days.
CSX Corporation (CSX)
CSX had some unfortunate news regarding the company boss Saturday.
The railroad transportation company confirmed that president CEO Hunter Harrison died at the age of 73 over the weekend. The company confirmed the boss’s death in a statement.
CSX said that Harrison’s passing came from “unexpectedly severe complications” from a recent illness. He passed away in Wellingtom, Fla., only a couple of days after the company said he was taking an unplanned medical leave of absence.
“Hunter’s burning passion, genuine humanity, and success helping countless connect with their fullest potential inspired a profound personal loyalty and devotion,” CSX board member Paul Hilal said in a statement.
Hilal added that Harrison has a unique genius that helped him build a legacy of historic proportions. He then sent out a message of consolation to the late CEO’s family.
CSX shares have been mostly flat over the last six months, gaining a meek 0.36%.
Humana Inc (HUM)
Humana is reportedly in talks to acquire a rival.
The company is hoping to ink a deal that would facilitate the acquisition of Kindred Healthcare, Inc. (NYSE:KND), a healthcare services provider that focuses on acute care.
Humana is hoping to complete an acquisition with help from private equity firms Welsh, Carson, Anderson & Stowe and TPG, a source familiar with the talks said on Sunday.
A merger between the two companies would be another example of consumer health care assets combining with an insurance provider in order to offer an all-in-one experience for consumers.
The fee that may be agreed upon has yet to be announced, but a piece from The Wall Street Journal claims the deal could place Kindred’s value at $9 per share, a premium over its Friday closing price of $8.60 a share. The latter figure sets Kindred’s value at $750 million.
HUM stock has surged 24.3% year-to-date.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.