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Stock Market & Financial Investment News

News Breaks
March 7, 2014
12:18 EDTHAWK, ALOG, BIG, COO, KR, PRGS, FL, SWYOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday despite a surprisingly better than expected report on job growth in February. Most market watchers were gearing up for a miss due to weather related issues and when the number came out ahead of forecasts the buyers stepped in, which led the broader market to open sharply higher. The averages held their gains through the first hour of trading but began to weaken and turned mixed before 10 am ET. Only the bluechip Dow had been able to remain in positive ground by midday. ECONOMIC EVENTS: In the U.S., 175K non-farm jobs were added last month, beating the expected increase of 150K jobs. The unemployment rate rose to 6.7% from last month’s 6.6% rate. The trade balance report for January showed a deficit of $39.1B, versus the expected $38.5B deficit. A report on consumer credit growth in January is expected at 3:00 pm ET. COMPANY NEWS: Grocery store owner Safeway (SWY) agreed to be acquired by Albertsons, which is owned by private equity firm Cerberus, for a total value estimated at $40 per Safeway share. Safeway shareholders will receive $32.50 per share in cash, will have the right to receive pro-rata distributions of proceeds from primarily non-core assets with an estimated value of $3.65 per share, and Safeway's shares of Blackhawk (HAWK), with a current value of $3.95 per Safeway share, will still be distributed. Analysts were mixed in their opinions about the deal, with Deutsche Bank saying it views the $40 per share price as too low and adding it believes grocery peer Kroger (KR) should bid during the deal's 21 day go-shop period. Conversely, UBS upgraded Safeway to Neutral following the acquisition news and said it does not expect a counter bid by Kroger. At midday, Safeway shares were down nearly 3% to $38.40, while Kroger was up 1.5% to trade near $44 per share... Shares of closeout retailer Big Lots (BIG) spiked 19% after the company reported fourth results, said the wind-down of its Canadian operations is on schedule, and approved a $125M share repurchase program... Shoe and apparel retailer Foot Locker's (FL) shares rose 7% after the company reported fourth quarter earnings that beat the consensus estimate. Following the company's report, analysts at Deutsche Bank raised their price target on Foot Locker shares to $48, noting that the company's FY14 guidance was in-line with Street expectations, unlike most retailers. MAJOR MOVERS: Among the notable gainers was Cooper Companies (COO), which was up more than 5% near noon following its quarterly report. The results prompted analysts from at least two research firms to raise their price target on Cooper shares. Among the noteworthy losers following a disappointing quarterly report was medical technology company Analogic (ALOG), down nearly 17%. Also lower was Progress Software (PRGS), which fell 10% after cutting its first quarter profit and sales outlook last night. INDEXES: Near midday, the Dow was up 29.16, or 0.18%, to 16,451.05, the Nasdaq was down 21.37, or 0.49%, to 4,330.76, and the S&P 500 was down 0.82, or 0.04%, to 1,876.21.
News For SWY;KR;BIG;FL;COO;ALOG;PRGS;HAWK From The Last 14 Days
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June 25, 2015
11:33 EDTKRKroger increases quarterly dividend by 13.5% to 21c
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11:26 EDTKRKroger trading halted, pending news
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June 24, 2015
17:36 EDTBIGBig Lots CEO establishes 10b5-1 plan
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17:18 EDTFLChamps Sports, Under Armour launch premium store-within-store concept
Champs Sports, a member of the Foot Locker (FL) family, is collaborating with Under Armour (UA) to launch The ARMOURY at Champs Sports. This is the first-of-its-kind, premium store-within-a-store and will open later this month at the Champs Sports store in The Mall in Columbia in Columbia, MD.
09:21 EDTKRUnited Natural Foods added to Best Ideas List at Wedbush
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June 23, 2015
07:27 EDTKRJefferies to hold a conference
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June 22, 2015
10:36 EDTFLFoot Locker management to meet with FBN Securities
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09:06 EDTBIGBig Lots launches Big Lots Latino
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June 19, 2015
13:38 EDTKROptions with decreasing implied volatility
Options with decreasing implied volatility: QIHU PIR RHT BLUE KMX RAD KBH ADBE ACM KR
09:28 EDTKRKroger participates in a conference call with Deutsche Bank
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June 18, 2015
10:52 EDTKRKroger sees continued consolidation in industry
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10:33 EDTKROptions with decreasing implied volatility
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10:20 EDTKRKroger sees Q2 'slightly above' 8%-11% long-term EPS growth range
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09:44 EDTKRKroger sees long-term EPS growth rate of 8%-11%
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08:19 EDTKRKroger backs FY15 EPS $3.80-$3.90, consensus $3.87
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08:17 EDTKRKroger recorded $28M LIFO charge in Q1
FIFO gross margin was 22.1% of sales for the first quarter. Excluding retail fuel operations, FIFO gross margin decreased 7 basis points from the same period last year.
08:17 EDTKRKroger reports Q1 adjusted EPS $1.25, consensus $1.22
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07:23 EDTHAWKBlackhawk price target raised to $50 from $44 at Deutsche Bank
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June 17, 2015
15:16 EDTKRNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Rite Aid (RAD), consensus 3c... Kroger (KR), consensus $1.22.
10:11 EDTKRKroger management to meet with Oppenheimer
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