Diamonds and Dogs

4/13/20

Amazon (AMZN) hiring more people. The e-commerce giant is up 5% after announcing it will hire 75,000 more employees, in addition to the 100,000 it already said it would hire, to help meet increased demand. One analyst made positive comments on Amazon expecting an accelerated adoption of digital online food delivery, digital streaming, and digital advertising post pandemic. Global online penetration of these categories are still less than 15%.

Houston, We have a Pork Problem. Privately held, Smithfield Foods, the world's largest pork processor, said on Sunday it will shut a U.S. plant in South Dakota indefinitely due to a rash of coronavirus cases among employees and warned the country was moving "perilously close to the edge" in supplies for grocers. The Sioux Falls plant is one of the nation's largest pork processing facilities, representing 4% to 5% of U.S. pork production, according to the company. 238 Smithfield employees currently have active cases of the coronavirus, accounting for 55% of South Dakota's total. Sanderson Farms (SAFM), Tyson Foods (TSN) and Pilgrams Pride (PPC) were initiatelly hit, but have since rebounded.