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Stock Market & Financial Investment News

News Breaks
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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July 29, 2015
16:07 EDTWFMWhole Foods sees Q4 EPS 34c-35c, consensus 45c
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16:06 EDTWFMWhole Foods reports Q3 EPS 43c, consensus 45c
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15:59 EDTWFMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Facebook (FB), consensus 47c... MetLife (MET), consensus $1.48... Williams (WMB), consensus 24c... Vertex (VRTX), consensus (58c)... O'Reilly Automotive (ORLY), consensus $2.26... NXP Semiconductors (NXPI), consensus $1.37... Marriott (MAR), consensus 81c... Fiserv (FISV), consensus 94c... Western Digital (WDC), consensus $1.45... SBA Communications (SBAC), consensus 9c... Whole Foods (WFM), consensus 45c... Lincoln National (LNC), consensus $1.53... Lam Research (LRCX), consensus $1.47... ServiceNow (NOW), consensus (2c)... Qorvo (QRVO), consensus $1.06... Hologic (HOLX), consensus 39c.
15:08 EDTWFMNotable companies reporting after market close
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14:15 EDTWFMWhole Foods technical comments ahead of earnings
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14:12 EDTWFMWhole Foods July weekly 41 straddle priced for 8.1% movement into Q3
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13:17 EDTWFMEarnings Preview: Whole Foods 'value' concept in focus ahead of earnings
Whole Foods Market (WFM) is scheduled to report third quarter earnings after the market close on Wednesday, July 29, with a conference call scheduled for 5:00 pm ET. Whole Foods Market is a retailer of natural and organic foods and grocer, with over 400 stores through the U.S., Canada, and the U.K. EXPECTATIONS: Analysts are expecting earnings per share of 45c on revenue of $3.69B, according to First Call. The consensus range for EPS is 43c-47c on revenue of $3.58B-$3.8B. LAST QUARTER: On May 6, Whole Foods reported second quarter EPS excluding special items of 43c, matching consensus estimates, on revenue of $3.65B, falling just short of analyst expectations of $3.7B. Whole Foods also reported second quarter same store sales growth of 3.6%. The company backed its expectation for fiscal year 2015 same store sales growth in a low to middle single digits percentage range. WHAT'S NOTABLE: During its second quarter earnings conference call, Whole Foods announced that it will launch a lower-cost concept that will offer its "industry-leading quality standards at value prices," geared toward millennial shoppers while appealing to "anyone looking for high-quality fresh food at great prices." The company said at the time it plans to begin opening stores next year and sees a "fairly rapid expansion" from there. On June 11, Whole Foods said the name of its value-focused brand will be "365 by Whole Foods Market," slated to begin opening stores in 2016. On July 1, regarding pricing issues in its New York stores, Whole Foods released a video in which co-CEOs John Mackey and Walter Robb stated, "Straight up, we've made some mistakes. We want to own that, and tell you what we're doing about it... We know [the mistakes are] unintentional because the mistakes are both in the customer's favor, and sometimes not in the customer's favor... We're doing a number of things [to fix this issue]. Most importantly, we're going to increase our training in our New York stores and around the country, because we want to be perfect in this area... Secondly, we're implementing a third-party auditing system so that we can see whether we're making progress in this area or not - and in another 45 days, we're going to begin reporting back to you, the customer, exactly what kind of progress we're making here. The final thing is that we want to give [a] 100% guarantee to our customers. If for any reason you think there's a mistake... if there's a mistake that's not in your favor, we promise to give you that item for free." STREET RESEARCH: On the day after the company's last earnings report, the stock received at least one upgrade and at least one downgrade. RBC Capital upgraded the stock to Outperform from Sector Perform, thinking that its comparable sales can accelerate, driven by easier comparisons and store refreshes. RBC also lowered Whole Foods' price target to $51 from $54. The same day, Bank of America Merrill Lynch downgraded Whole Foods to Neutral and cut its price target on shares to $48 from $65, citing an uncertain same store sales outlook and the potential impact of its new store concept on its core business. Credit Suisse maintained its Neutral rating on the company, but lowered the price target to $40 from $52 due to weaker Q2 comps and the strategy shift to a value-oriented format. Deutsche Bank also lowered its price target for Whole Foods to $40 from $54 for similar reasons. On June 9, Macquarie initiated Whole Foods with a Neutral rating and a $44 price target. On July 13, Cowen said its survey of over 1,000 U.S. consumers regarding their food behaviors indicated that that buyers are in an early stage of demand for more transparent grocery and restaurant offerings. Cowen added in that note that it was concerned about how Whole Foods' rollout of a second concept could potentially impact its core brand. PRICE ACTION: Shares of Whole Foods have slid more than 13.5% over the past three months. In afternoon trading, Whole Foods shares were up 1.6% to $41.60 ahead of the company's earnings report tonight.
10:00 EDTSVUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3D Systems (DDD) upgraded to Neutral from Underperform at Longbow... AK Steel (AKS) upgraded to Outperform from Neutral at Macquarie... Ally Financial (ALLY) upgraded to Outperform from Neutral at Credit Suisse... Amazon.com (AMZN) upgraded to Buy from Hold at Stifel... Arrow Electronics (ARW) upgraded to Buy from Underperform at CLSA... Beacon Roofing (BECN) upgraded to Buy from Neutral at CL King... Citrix (CTXS) upgraded to Outperform at Baird... Commvault (CVLT) upgraded to Buy from Hold at Jefferies... FireEye (FEYE) upgraded on positive checks, business mdoel changes at Oppenheimer... Hibbett Sports (HIBB) upgraded to Neutral from Underperform at Sterne Agee CRT... Integra LifeSciences (IART) upgraded to Outperform at Raymond James... M/A-COM (MTSI) upgraded to Buy from Hold at Needham... Norsk Hydro (NHYDY) upgraded to Neutral from Underperform at Exane BNP Paribas... NuVasive (NUVA) upgraded to Outperform from Market Perform at Northland... SM Energy (SM) upgraded to Outperform from Market Perform at Raymond James... Scorpio Bulkers (SALT) upgraded to Buy from Hold at Deutsche Bank... Sirius XM (SIRI) upgraded to Buy from Hold at Wunderlich... Sprouts Farmers Markets (SFM) upgraded to Neutral from Underperform at Longbow... Supervalu (SVU) upgraded to Equal Weight from Underweight at Morgan Stanley... Waters (WAT) upgraded to Outperform from Market Perform at Wells Fargo... Wells Fargo (WFC) upgraded to Buy from Neutral at Guggenheim... Williams-Sonoma (WSM) upgraded to Overweight from Neutral at JPMorgan... YRC Worldwide (YRCW) upgraded to Strong Buy at Raymond James.
09:53 EDTSVUSupervalu upgraded to Outperform at Telsey Advisory (pre-open)
Telsey Advisory upgraded Supervalu to Outperform from Market Perform prior to the open after the company reported better than expected first quarter results yesterday and announced that it is exploring a separation of its Save-A-Lot business.
06:10 EDTSVUSupervalu upgraded to Equal Weight from Underweight at Morgan Stanley
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July 28, 2015
12:31 EDTSVUOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory but turned mixed a short time after the open. The averages gathered themselves again and began an upward drift about an hour into trading, leaving markets near session highs around noon as stocks try to break their string of five consecutive lower closes. ECONOMIC EVENTS: In the U.S., the Case Shiller 20-city home price index rose 1.1% in May to 179.03, missing a forecast for it to rise 1.7% to 180.2. Markit's services PMI for July rose to 55.2, above the expected 55.0 reading. The Richmond Fed factory index rose to 13.0 in July from an upwardly revised 7 in June. Consumer confidence fell to 90.9 in July, down from a revised 99.8 figure for last month and below the expected reading of 100. In China, the Shanghai composite index closed down 1.7%, but only after a volatile session that saw it down as much as 5.1% and up about 1% at different points in the trading day. In Europe, U.K. GDP growth in the second quarter came in at 0.7%, matching the consensus expectation. COMPANY NEWS: Earnings season continued in earnest with UPS (UPS), Ford (F), Pfizer (PFE) and Merck (MRK) each reporting better than expected quarterly profits. UPS, which said its quarterly results gave it confidence in achieving the upper end of its earnings guidance range for the fiscal year, rose more than 5%. Pfizer and Merck each raised their fiscal year earnings guidance ranges, but Pfizer advanced 1.7% following its report while Merck slid nearly 0.5%. Ford, meanwhile, gained 1.8% after backing its fiscal year pre-tax profit view and repeating that it still expects the second half of the year to be stronger than the first half. MAJOR MOVERS: Among the notable gainers was Supervalu (SVU), which jumped 19% after the company reported better than expected first quarter results and also announced that it is exploring a separation of its Save-A-Lot business into a stand-alone, publicly traded company. Also higher was GrubHub (GRUB), which gained over 5% after reporting better than expect top and bottom line results in its second quarter and issuing 2015 guidance that analysts at Stifel said "appears conservative." Among the noteworthy losers was Immunomedics (IMMU), which tumbled 34% after the company's partner, UCB, announced that two Phase 3 clinical studies for epratuzumab in Systemic Lupus Erythematosus did not meet their primary clinical efficacy endpoints in either dose in both studies. Also lower following its earnings reports was Baidu (BIDU), which fell 16.5% and was downgraded by at least four research firms. INDEXES: Near midday, the Dow was up 136.13, or 0.78%, to 17,576.72, the Nasdaq was up 36.37, or 0.72%, to 5,076.14, and the S&P 500 was up 19.42, or 0.94%, to 2,087.06.
08:05 EDTSVUSupervalu reports Q1 adjusted EPS 23c, consensus 20c
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08:04 EDTSVUSupervalu to explore separating Save-A-Lot business
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July 27, 2015
06:55 EDTWFMWhole Foods July weekly volatility elevated into Q3 and outlook
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July 26, 2015
16:15 EDTKRKroger recalls seasonings due to possible Salmonella contamination
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July 24, 2015
10:00 EDTSVUOn The Fly: Analyst Initiation Summary
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08:32 EDTWFMWhole Foods July weekly volatility elevated into Q3 and outlook
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06:13 EDTSVUSupervalu initiated with a Buy at Pivotal Research
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July 22, 2015
08:32 EDTKRWestern Union, Kroger extend more than 30-year relationship
Western Union (WU) announced the extension of its more than 30-year relationship with The Kroger Co. (KR). This agreement gives customers the ability to send and receive Western Union Money Transfer transactions across the United States or across the globe to more than 200 countries and territories, in minutes. In addition, Customers can purchase money orders and pay their bills at more than 2,300 Kroger Family of Store locations across 34 states.
July 20, 2015
10:05 EDTTFMHigh option volume stocks
High option volume stocks: PDCE GNRC CRZO NLSN RUBI TFM HABT EXEL DUST
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