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Stock Market & Financial Investment News

News Breaks
March 7, 2014
05:41 EDTSWY, KRSafeway $40 per share takeover price too low, says Deutsche Bank
Deutsche Bank views the $40 per share price Cerberus is paying for Safeway (SWY) as too low and notes the deal has a 21 day go-shop period. Deutsche believes Kroger (KR) should bid and continues to think Safeway could fetch a price above $40 per share. The firm has a Buy rating on Safeway.
News For SWY;KR From The Last 14 Days
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July 31, 2014
11:13 EDTKRWhole Foods retreats after lowering guidance
Shares of Whole Foods Market (WFM) are sinking after the company cut its full-year guidance. WHAT'S NEW: Whole Foods reported stronger than expected third quarter revenue and earnings per shares of $3.4B and 41c, respectively, and said that its comparable store sales had risen 3.9%. However, the supermarket operator cut its full-year sales growth outlook to 9.6%-9.9% from its previous guidance of 10.5%-11%. The company also reduced its full-year EPS outlook to $1.52-$1.54 from $1.52-$1.56 and cut its full-year comparable sales growth guidance to 4.1%-4.4% from 5%-5.5%. "Our business model is producing industry-leading sales per gross square foot, healthy returns on invested capital and strong operating cash flow," said Whole Foods co-CEO Walter Robb in a statement. "We are seeing signs of stability in our sales trends and believe our strategic initiatives will help generate further momentum and produce increasing returns on invested capital over the long term," Robb added. ANALYST REACTION: JPMorgan analyst Ken Goldman downgraded the stock to Neutral from Overweight, stating that the company is likely to deliver low fiscal 2015 EPS as it increases its investments in a number of areas, including advertising, store refreshes, and home delivery. Additionally, Whole Foods could lower its fiscal 2015 EPS guidance well below the $1.74 it provided last quarter, the analyst added. Goldman reduced his fiscal 2015 and fiscal 2016 EPS estimates significantly below consensus levels and cut his price target on the stock to $38 from $48. Also downgrading the stock was UBS analyst Jason DeRise. Increased competition has caused Whole Foods' market share gains in natural food to stall, according to DeRise. To attract additional natural food customers it must cut its prices, he contended. The analyst downgraded the stock to Neutral from Buy and cut his price target to $41 from $48. Morgan Stanley was more upbeat on the stock, saying that the company's growth is poised to re-accelerate over the longer term. The firm recommended buying the stock on weakness and kept a $50 price target and Overweight rating on the shares. PRICE ACTION: In mid-morning trading, Whole Foods fell 3.4% to $37.76. Other supermarket stocks also retreated, with The Fresh Market (TFM) falling 3.5% to $29.62, Fairway Group (FWM) losing 1.8% to $5.95, and Kroger (KR) losing 1% to $49.22.
July 30, 2014
11:32 EDTSWYOptions with increasing implied volatility
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09:41 EDTKRKroger ratifies agreement with UFCW 75 for Cincinnati, Dayton associates
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July 28, 2014
12:05 EDTSWYOptions with increasing implied volatility
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July 25, 2014
17:55 EDTSWYSafeway shareholders approve merger with AB Acquisition
Safeway announced the preliminary results of its stockholder vote at the company's 2014 Annual Meeting of Stockholders held earlier. Stockholders approved and adopted the proposal to approve the previously announced agreement and plan of merger dated as of March 6, as amended on April 7 and June 13, under which AB Acquisition, an affiliate of Albertsons, will acquire Safeway as described in the proxy statement dated June 19, with 70% of the outstanding shares and 96% of the shares voted voting FOR the Merger.
12:18 EDTSWYGreenlight discloses short positions in Safeway, Questcor, Bloomberg says
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July 23, 2014
06:31 EDTSWYSafeway says receives subpoena from U.S. DEA
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July 22, 2014
07:52 EDTKRKroger management to meet with Guggenheim
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