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June 19, 2014
11:22 EDTTFM, SWY, WFM, KR, SVUKroger hits 52-week high after increasing guidance
Shares of supermarket operator Kroger (KR) hit a fresh 52-week high after the company's first quarter results surpassed analysts' consensus estimates and it raised its fiscal 2014 earnings per share outlook. WHAT'S NEW: This morning, Kroger reported Q1 adjusted EPS of $1.09 and revenue of $32.96B, topping analysts' consensus estimates of $1.05 and $32.64B, respectively. WHAT'S NOTABLE: The company raised its FY14 adjusted EPS view to to $3.19-$3.27 from $3.14-$3.25, compared to consensus of $3.22. The company's long-term net earnings per diluted share growth rate guidance is 8%11%, plus a growing dividend. Kroger raised its identical supermarket sales growth guidance, excluding fuel, to 3.0%-4.0% for FY14, versus its prior original view of 2.5%-3.5%. On its Q1 earnings conference call, the company said it was seeing strong positive indicators in shopping behavior, with customers exhibiting less cautious spending behavior. It said more customers perceive the economy to be in recovery. For the remainder of the year, the company sees inflation higher than expected. PRICE ACTION: In late morning trading, Kroger rose about 5.5% to $49.89 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week high of $50.20. Including today's advance, the stock is up about 40% over the past 12 months. OTHERS TO WATCH: Other companies in the supermarket space include Safeway (SWY), SUPERVALUE (SVU), Whole Foods Markets (WFM), and The Fresh Market (TFM).
News For KR;SWY;SVU;WFM;TFM From The Last 14 Days
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November 24, 2014
10:00 EDTWFM, TFMOn The Fly: Analyst Initiation Summary
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06:31 EDTWFMWhole Foods initiated with an Underperform at Longbow
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06:27 EDTTFMThe Fresh Market initiated with an Underperform at Longbow
Longbow initiated The Fresh Market with an Underperform and $30 price target. The firm expects shelf space allocation of organic/natural selections to expand further in the grocery channel, resulting in comp pressure and earnings risk.
November 21, 2014
09:12 EDTTFMThe Fresh Market shares should be bought on weakness, says Stephens
Stephens said The Fresh Market's Q3 gross margins were hurt from absorbing cost inflation and continued promotional activity, though the firm expects margin pressures to ease in Q4 and beyond. Stephens maintains its Overweight rating and $44 price target on the stock and recommends shares be bought on any post-earnings weakness.
November 20, 2014
18:21 EDTTFMOn The Fly: After Hours Movers
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16:08 EDTTFMThe Fresh Market sees FY14 adjusted EPS $1.56-$1.64, consensus $1.57
Sees FY14 SSS up 2.5%-3.5%.
16:07 EDTTFMThe Fresh Market reports Q3 adjusted EPS 27c, consensus 28c
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15:28 EDTTFMNotable companies reporting after market close
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November 19, 2014
08:58 EDTTFMThe Fresh Market November volatility elevated into Q3 and outlook
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08:15 EDTWFMWhole Foods testing price cuts in Texas, says Jefferies
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November 14, 2014
12:11 EDTKRKroger subsidiary hiring 1,200 permanent positions in CA
Ralphs Grocery Company announced this week that it is hiring to fill an estimated 1,200 permanent positions at its stores in Southern California. Ralphs currently employs more than 19,000 associates at its stores in Southern California. Ralphs is a subsidiary of The Kroger Co.
11:16 EDTTFMThe Fresh Market November volatility elevated into Q3 and outlook
The Fresh Market November call option implied volatility is at 77, December is at 44, March is at 37; compared to its 26-week average of 43 according to Track Data, suggesting large price movement into the expected release of Q3 results on November 20
November 11, 2014
09:37 EDTWFMActive equity options trading
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