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Stock Market & Financial Investment News

News Breaks
February 21, 2013
13:09 EDTKR, TFM, SWY, HTSISupermarket stocks climb after Safeway's results beat expectations
A number of supermarket stocks are climbing after supermarket chain Safeway (SWY) reported fourth quarter earnings per share, or EPS, that surpassed analysts' consensus estimate by a wide margin. The company's revenue, meanwhile, came in slightly higher than expected. Safeway's same-store sales rose 0.8% compared with the fourth quarter of 2011. In the first eight weeks of the current quarter, the company's same-store sales will be up 2% if the current week ends as expected, Safeway's CEO said on the company's conference call. Safeway's operating profit margin, however, inched up just 0.1 percentage points in the fourth quarter. In early afternoon trading, Kroger (KR) rallied 4% to $29, Harris Teeter (HTSI) advanced 1.50% to $42, The Fresh Market (TFM) climbed 2% to $48.80, and Safeway rallied 13.50% to $23.
News For SWY;KR;HTSI;TFM From The Last 14 Days
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March 6, 2015
08:38 EDTKRKroger price target raised to $82 from $75 at JPMorgan
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07:36 EDTTFMThe Fresh Market should rise 'meaningfully' today, says JPMorgan
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March 5, 2015
18:21 EDTTFMOn The Fly: After Hours Movers
UP AFTER EARNINGS: YY Inc. (YY), up 5.2%... Finisar (FNSR), up 5%... Martha Stewart Living (MSO), up 5.1%... Thor (THO), up 3.5%... The Fresh Market (TFM), up 2.5%... Cooper (COO), up 2.6%. ALSO HIGHER: Calithera Biosciences (CALA), up 39% after gaining license to TransTech hexokinase inhibitors... Bank of America (BAC), up 2% following results of 2015 Dodd-Frank Stress Test. DOWN AFTER EARNINGS: Checkpoint Systems (CKP), down 20.4%... Emergent BioSolutions (EBS), down 8.5%. ALSO LOWER: Gap (GPS), down 2.1% after reporting February sales... AEterna Zentaris (AEZS), down 13.7% after filing to sell common units, no amount given... Citigroup (C), down marginally following results of 2015 Dodd-Frank Stress Test.
16:15 EDTTFMThe Fresh Market touches 52-week high after hours
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16:12 EDTTFMThe Fresh Market sees 2015 adjusted EPS $1.77-$1.85, consensus $1.80
This forecast includes a net benefit to earnings of approximately 3c related to store closures in California, partially offset by leadership transition related expenses, and excludes anticipated net charges of approximately 26c-33c, expected to be realized during fiscal 2015 related to the recognition of lease liabilities, asset disposals, severance and other costs associated with store closures in California. Managementís outlook for FY15 is based upon the following expectations: Total net sales growth of approximately 9.0%-11.0% compared to fiscal 2014 total net sales, which included the benefit of sales from the Companyís California stores; Comparable store sales growth of 2.0%-4.0% .
16:11 EDTTFMThe Fresh Market to close California operations, take $20M-$26M in charges
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16:09 EDTTFMThe Fresh Market reports Q4 adjusted EPS 55c, consensus 51c
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15:21 EDTTFMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Finisar (FNSR), consensus 25c... Cooper Companies (COO), consensus $1.54... YY Inc. (YY), consensus 85c... Diamond Foods (DMND), consensus 25c... The Fresh Market (TFM), consensus 51c... Alon USA Energy (ALJ), consensus (9c)... WuXi PharmaTech (WX), consensus 53c.
12:33 EDTKROn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the market looks to break the two day skid that started the day after Nasdaq broke 5,000. A lower growth forecast in China is being offset this morning by Europe getting more constructive on its outlook, as the European Central Bank raised its growth forecasts and confirmed that it plans to start its bond buying program next week. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 7K to 320K in the week ended February 28, which was above the consensus forecast for 296K first-time claims. Nonfarm productivity in the fourth quarter was revised to -2.2% from -1.8% in the government's prior estimate. Unit labor costs are now believed to have risen 4.1% in Q4, which is up from the 2.7% growth estimated in the advance report. Factory orders dipped 0.2% in January, versus expectations for them to be up 0.2%. China's government set an economic growth rate target of about 7% for 2015, which is down from the 7.5% target that it narrowly missed last year with its 2014 GDP growth of 7.4%. In Europe, both the Bank of England and European Central Bank kept their key interest rates unchanged. As is often the case in Europe, the real news came after the rate decision when ECB president Mario Draghi held his press conference. During the conference, Draghi said the bank's first asset purchases will come next week as part of its plan to buy $66B a month in bonds. The ECB also raised its economic growth forecasts for this year and next and said its inflation outlook puts it on track to reach its inflation goal near 2%. COMPANY NEWS: AbbVie (ABBV) agreed to buy Pharmacyclics (PCYC) for $261.25 per share, or $21B, the companies announced. Pharmacyclics' flagship product is Imbruvica, a treatment for hematologic cancers, that it co-markets with Johnson &Johnson (JNJ). Media reports as late as last night said J&J was close to buying its partner. Piper Jaffray said AbbVie paid a "staggering" price for Pharmacyclics when taking into account the company bought only 50% of the rights to Imbruvica and that "nearly everything looks cheap" in the biotechnology space when the deal's metrics are used as a benchmark against other names. Deutsche Bank however, views AbbVie's acquisition as a positive, saying the deal provides near term top-line growth and diversifies its business away from Humira... A Delta (DAL) plane skidded off the runway at New York's La Guardia Airport, prompting the airport to close until later this evening. MAJOR MOVERS: Among the notable gainers was Kythera Biopharmaceuticals (KYTH), which gained nearly 25% after the FDA released briefing documents for an advisory committee meeting planned for March 9 to discuss the company's deoxycholic acid, or DCA. Kythera is seeking approval for DCA for the improvement in the appearance of moderate to severe convexity or fullness associated with submental fat in adults, more commonly known as "double-chin." Also higher after its earnings report was grocery store operator Kroger (KR), which advanced 5%. Among the noteworthy losers was Greif (GEF), which dropped 13.5% after its earnings missed expectations, with the company stating that profits were adversely impacted by product and geographic mix issues resulting in lower gross profit and a higher effective tax rate. Also lower was mining equipment maker Joy Global (JOY), which fell about 7% after the company's results missed forecasts and it cut it fiscal year outlook. INDEXES: Near midday, the Dow was up 26.04, or 0.14%, to 18,122.94, the Nasdaq was up 11.33, or 0.23%, to 4,978.47, and the S&P 500 was up 0.94, or 0.04%, to 2,099.47.
08:44 EDTKRKroger sees FY15 EPS $3.80-$3.90, consensus $3.72
The guidance is consistent with long-term net EPS growth rate of 8%-11%. For 2015, Kroger expects fuel margins to return to historical averages, a lower LIFO charge, and no comparable contributions to the pension and foundation; as a result, the company expects to achieve near the middle of the guidance range. The company expects capital investments, excluding mergers, acquisitions and purchases of leased facilities, to be in the $3B-$3.3B range for 2015.
08:43 EDTKRKroger reaches 2.00-2.20 net debt to adjusted EBITDA ratio earlier than expected
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08:42 EDTKRKroger reports total active workforce grew by 25K during 2014
More than 90 percent of the new jobs are in the company's supermarket divisions, ranging from full-time department heads and assistant store managers to part-time courtesy clerks and cashiers.
08:41 EDTKRKroger recorded LIFO charge of $9M in Q4
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08:41 EDTKRKroger reports Q4 EPS $1.04, consensus 90c
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March 4, 2015
15:13 EDTKRNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Costco (COST), consensus $1.18... Kroger (KR), consensus 90c... Joy Global (JOY), consensus 36c... Ares Management (ARES), consensus 36c... Canadian Solar (CSIQ), consensus $1.34.
March 3, 2015
15:57 EDTTFMBofA/Merrill retail analysts hold an analyst/industry conference call
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March 2, 2015
09:07 EDTKRKroger March volatility elevated into Q4 and outlook
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