Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From Amazon buying Whole Foods to more about Amazon buying Whole Foods, here are four charts that tell you what you need to know in business today.

Amazon's $13.7 billion Whole Foods purchase is its biggest ever, and signals its intent to seriously shake up the grocery business.
Source: Bloomberg and Amazon
Amazon's new grocery competitors -- already involved in a widespread price war -- saw stocks tumble along with hopes for their future margins.
Source: Bloomberg
*United Natural Foods is a primary distributor to Whole Foods Market
Instant Reward
Amazon's market cap jumped by more than the entire value of Whole Foods in one day -- that just doesn't happen with cash takeovers of this size.
Source: Bloomberg, Bloomberg Gadfly analysis
Note: Change in acquirer's market cap relative to total announced transaction value in following trading session. Deals where U.S. listed company acquired another for $10 billion or more in cash, past 10 years.
Ripe For Growth
Even with Whole Foods, Amazon will be just a small part of a highly fragmented grocery market. For now.
Source: Cowen & Co., Company Reports, Supermarket News

And don't miss Lionel Laurent's fevered imaginings on the future of the CFA exam: 

"Thelonious Hemlock, a blockchain enthusiast, wants only optimistic views on financial applications of distributed ledgers for an investor pitch. What should he steer clear of?

  1. The Bank of Canada paper testing conceptual payment systems on non-Bitcoin blockchains. It found they might not offer net benefits relative to the current centralized model. 
  2. Cornell University Associate Professor Emin Gun Sirer's research on the ways Bitcoin and blockchains can fail. One vulnerability can take down the entire system. The hype is running ahead of reality, he argues.
  3. Gartner Inc.'s view that most enterprise blockchain projects don't actually need blockchain technology; they'd probably be more successful without it."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

To contact the author of this story:
Max Nisen in New York at

To contact the editor responsible for this story:
Mark Gongloff at