Amazon jumps following report it's planning to expand Whole Foods across the US

  • Amazon rose early Monday after a report said it was planning to open more Whole Foods stores across the US to place more customers within range of Prime Now's two-hour delivery service.
  • The report did not detail exactly how many Whole Foods stores Amazon was planning to open and expand.
  • Watch Amazon trade live.

Amazon rose more than 2% early Monday, to more than $1,509 a share, after a report said it planned to open more Whole Foods locations across the United States.

The push would place more customers within range of Amazon's two-hour delivery service, Prime Now, The Wall Street Journal reported, citing people familiar with the plans.  

RELATED: Take a look at the top companies of 2018, according to LinkedIn: 

50 PHOTOS
LinkedIn top 50 companies 2018
See Gallery
LinkedIn top 50 companies 2018
#50: Abbott
#49: Tableau Software 
#48: JLL
#47: PepsiCo
#46: Starbucks
#45: Johnson & Johnson 
#44: Box
#43: Twitter
#42: Capital One
#41: ADP
#40: Square Inc. 
#39: National Football League
#38: Kering 
#37: Citadel 
#36: WeWork
#35: Nike 
#34: Accenture
#33: National Basketball Association 
#32: DropBox 
#31: Cisco 
#30: Stryker
#29: Ernst and Young
#28: Morgan Stanley
#27: Live Nation
#26: Boston Consulting Group 
#25: PwC 
#24: Goldman Sachs 
#23: Verizon 
#22: Deloitte
#21: Samsung 
#20: IBM 
#19: LVMH 
#18: J.P. Morgan Chase & Co.
#17: Dell Technologies
#16: Time Warner
#15: Airbnb
#14: Adobe
#13: McKinsey & Company
#12: Uber 
#11: Spotify 
#10: Netflix 
#9: Oracle 
#8: The Walt Disney Company 
#7: Comcast NBCUniversal 
#6: Apple 
#5: Tesla 
#4: Salesforce
#3: Facebook
#2: Alphabet
#1: Amazon 
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

Both retailers declined to comment to The Journal on new store construction and spending, though one person familiar with the plans said Whole Foods employees have visited "potential retail spaces in parts of Idaho, southern Utah and Wyoming, where the grocer doesn’t have stores now."

Read more: Amazon has plans to open even more Whole Foods stores, and it shows the e-commerce giant has no intention to slow down its push into physical retail

Whole Foods currently has more than 350 retail and non-retail locations in the US, Canada, and the UK. Amazon bought Whole Foods in 2017 for $13.5 billion after Whole Foods had courted seven potential partners for a deal.

Amazon shares have climbed 25% in 2018, though they are down 28% since hitting an all-time high of $2,050.50 in early September. 

More from Business Insider: 
Wall Street faces annual losses despite solid gains for the week 
A fund manager who's beaten 99% of his competitors this year shares his top investing theme for 2019 — and reveals the stocks he's picked to play it 
The global investment chief at $3 trillion Charles Schwab outlines the 3 ways his firm is preparing for the next meltdown — and how you can do the same

Read Full Story