Dow Jones News: Walmart Under Pressure From Amazon; Merck Trounces Analyst Estimates
The Dow Jones Industrial Average (DJINDICES: ^DJI) was struggling to hold onto a small gain Tuesday afternoon, up just 0.09% at 1:10 p.m. EDT. Walmart (NYSE: WMT) stock was moving against the tide, stumbling as Amazon (NASDAQ: AMZN) eliminated fees for its online grocery delivery service. Meanwhile, shares of Merck (NYSE: MRK) were solidly higher following a strong earnings report.
Shares of megaretailer Walmart were down 1.1% after rival Amazon announced that it was getting rid of the monthly fee tied to its Amazon Fresh grocery delivery service. Online grocery sales are one of the pillars of Walmart's e-commerce strategy, helping to drive the company's impressive online sales growth. Walmart is squarely in the crosshairs as Amazon guns for a greater portion of the online grocery market.
Image source: Walmart.
Source Fool.com
