Major U.S. stock indexes ended little changed on Friday even as Amazon.com's $13.7 billion deal to buy upscale grocer Whole Foods roiled the retail sector and rocked shares of an array of companies including Wal-Mart and Target.
Energy sector shares helped buoy the S&P 500 and the Dow industrials, while Apple dragged on the Nasdaq.
The deal by Amazon, a proven retail disruptor, marked a major step by the internet retailer into the brick-and-mortar retail sector.
Wal-Mart (WMT.N) shares sank 4.7 percent, weighing the most on the Dow. Shares of Target (TGT.N), Walgreen Boots (WBA.O) and Costco (COST.O) fell between 5 percent and 7 percent.
"It’s going to send a shock wave across the board, and this represents the true utmost in market disruption," said Burns McKinney, chief investment officer with the Dallas investment team for Allianz Global Investors. "There’s big winners and big losers."
Amazon shares gained 2.4 percent, making the stock the biggest boost to the S&P 500. Whole Foods (WFM.O) shares surged 29.1 percent.