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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, WITH GDP ON DECK

Owner of Facebook and Instagram plans to spend up to US$10B on AI infrastructure investments

ConAgra buying Pinnacle Foods, Whole Foods expands Prime discounts, Amex teams up with Amazon

Yahoo Finance

Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.

Conagra (CAG) is buying Pinnacle Foods for $10.9B in cash and stock. The deal adds big brands like Birds Eye and Duncan Hines to Conagra’s portfolio. The acquisition is expected to close by the end of the year.

Good news for fans of Amazon’s (AMZN) Whole Foods stores. Starting today, discounts for Amazon Prime members are available at all Whole Foods locations nationwide. Amazon also announced it is expanding Whole Foods deliveries to 5 new cities: Chicago, Houston, San Antonio, Minneapolis and Indianapolis.

More Amazon news. It’s working with American Express (AXP) to roll out a new credit card for small businesses. It’s not clear when the card will launch or the exact rewards it will offer. The Wall Street Journal says it will be geared toward businesses with less than $10M in annual revenue.

Facebook (FB) is giving up on its plan to build its own drones. The company now says it will partner with companies like Airbus to create unmanned aircrafts. It’s part of Facebook’s ambitious goal of beaming internet to people in remote areas. Facebook famously built a drone in 2015, which suffered a “structural failure” during landing.