에 대한 최신 뉴스 Kroger (NYSE:KR) 주식

Kroger

Kroger is one of the largest grocery retailers in the United States with more than 2,700 stores across a portfolio of over 20 supermarket banners. The company boasts an ingrained presence in US communities, citing that it is a top-two grocer in most of its major market areas. Over one fourth of Kroger's roughly $110 billion in nonperishable and fresh food sales (about 75% of revenue) stems from its private-label portfolio, of which the company manufactures about 30% of units via its 33 food production plants. The firm also operates fuel stations and pharmacies at 60% and 80% of its locations, respectively.

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JBLU

SAVE

스피릿 항공(NYSE:SAVE)이 파산 신청을 고려 중이라는 소식이 퍼지자, 비판자들은 소셜 미디어를 통해 바이든 행정부를 비난했다. 그 이유는 무엇일까? 올해 1월, 미국 반독점 규제 당국이 제트블루 항공(NASDAQ:JBLU)의 38억 달러에 스피릿 인수를 차단한 사건을 기억해 보자. 실제로 지난 4년 동안, 규제 당국은 경쟁을 저해한다고 판단되는 인수합병 활동을 종종 저지해왔다. 예를 들어 크로거(NYSE:KR)와 앨버트슨(NYSE:ACI)의 250억 달러 규모 합병과 같은 사례가 있다.

스피릿 항공 파산 소문, 비난의 대상은 바이든: 항공사 합병에 대한 과거 사례

The Kroger Co

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When word got around that Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) was <a href="https://www.benzinga.com//node/41182466">considering a bankruptcy</a> filing, critics quickly took to social media to blame the Biden administration. 
Why? Recall how, in January, U.S. <a href="https://www.benzinga.com/news/24/01/36648448/jetblue-spirit-airlines-merger-blocked-spirit-shares-tumble">antitrust regulators successfully blocked</a> JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) from buying Spirit for $3.8 billion. Indeed, over the past four years, regulators <a href="https://www.benzinga.com/government/24/09/40693260/kroger-albertsons-merger-in-ftc-crosshairs-customers-competitors-at-risk">often hold up</a> M&amp;A activity they consider anti-competitive, such as <a href="https://www.benzinga.com/news/large-cap/22/10/29266605/kroger-albertsons-finally-seal-the-rumored-merger-deal-see-highlights">the $25 billion merger</a> between Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and Alberstons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>).
The JetBlue/Spirit scenario was no different. Fast-forward to this week: The <a href="https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae">Wall Street Journal</a> reported Spirit is in talks with bondholders and creditors to see if a Chapter 11 bankruptcy is the best option for the troubled carrier.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Biden and Harris torched the merger. Now many will be without a job.
&mdash; Ottoman (@raddadcomments) <a href="https://twitter.com/raddadcomments/status/1841958271655280659?ref_src=twsrc%5Etfw">October 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The JetBlue deal would have saved jobs and the airline, observers argued. It&#8217;s worth noting Spirit&#8217;s problems stem from having to ground several Airbus planes due to turbofan engine problems.
Bank of America Securities analysts noted in January that Spirit&#8217;s ongoing engine repairs hurt &#8220;the traditional ultra-low cost business model.&#8221;
Dania Beach, Florida-based Spirit also attributed its financial struggles to an &#8220;intense competitive battle&#8221; for price-sensitive leisure travelers, as well as an oversupply of airline seats in the domestic market.
&#8220;You can think [sic] Biden and his FTC crew for this. Way to go Joe!&#8221; a social media user posted.
Precedent shows that a deal with JetBlue wouldn&#8217;t have been a safety net for Spirit as most major airline mergers lead to job losses, regardless of whether the target is a distressed asset.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41178053/spirit-airlines-engages-in-bankruptcy-talks-amid-financial-struggles-report">Spirit Airlines Engages In Bankruptcy Talks Amid Financial Struggles</a>
The scale and impact can vary depending on several factors such as the size of the merger. Here are a few examples of job losses from major mergers:
<ul>
<li>American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) and US Airways: After the 2013 merger, there were several thousand job losses. Estimates ranged from 1,500 to 3,000 positions cut. </li>
<li>United Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) and Continental Airlines: The 2010 merger resulted in the elimination of roughly 1,500 to 2,000 job losses. These cuts were primarily due to redundant corporate and administrative positions. </li>
<li>Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) and Northwest Airlines: While the 2008 merger helped the combined airline grow, but also led to an estimated 2,000 to 3,000 job losses.</li>
</ul>
Airline mergers often lead to route and capacity optimization, reducing staffing needs in less profitable areas. Cost synergies, like lowering fuel and labor costs, can prompt additional cuts as well. Fleet consolidation may phase out older aircraft, affecting technical staff.
Union agreements and labor contracts might also lead to layoffs as the merged airline harmonizes pay and benefits across the workforce.
While not all mergers result in severe job losses, neither do bankruptcies. Jobs can sometimes be saved when a company files for Chapter 11, since the process allows a company to reorganize its debts and operations while continuing to operate, giving it a chance to become financially viable. 
During this process, the company may restructure contracts, renegotiate with creditors and streamline operations, which can help preserve jobs that would otherwise be lost in a complete liquidation. While layoffs may occur, Chapter 11 provides more opportunities for the business to recover and protect a portion of its workforce.
Spirit&#8217;s debt load hovers around $3.3 billion, per the Wall Street Journal.
Recent airline bankruptcies include Virgin America and Monarch Airlines, both in 2017; WOW Air in 2019; and LATAM Airlines Group SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LTM#NYSE">LTM</a>) in 2020. LATAM emerged from bankruptcy in 2022 stronger and is now larger and leaner, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41123208/latam-airlines-earnings-will-remain-higher-for-longer-says-bullish-analyst">according to Morgan Stanley analysts</a>.
What&#8217;s Next: It remains to be seen whether Spirit will follow through with bankruptcy. At last check Friday, Spirit stock is trading 26.28% lower at $1.66, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
The stock has lost more than 85% of its value in 2024. 
Now Read: 
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<li><a href="https://www.benzinga.com/news/24/10/41124443/whats-going-on-with-delta-united-and-spirit-airlines-shares-tuesday">What's Going On With Delta, United and Spirit Airlines Shares Tuesday?</a></li>
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Photo: Shutterstock

Spirit Airlines Bankruptcy Chatter Has Critics Blaming Biden: Here's What History Shows About Carrier Mergers

Melius Research analyst Karen Short initiates coverage on Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Hold rating and announces Price Target of $55.

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Melius Research Initiates Coverage On Kroger with Hold Rating, Announces Price Target of $55

Kroger Extends Exchange Offers And Consent Solicitations For Albertsons Companies For Up To $7,441,608,000 Aggregate Principal Amount Of New Notes And Cash; Extends Expiration Date From Sept. 23 To Sept. 27

Kroger Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) shares closed lower Tuesday after lawyers for the Federal Trade Commission (FTC) gave closing arguments in a hearing to temporarily block the proposed merger <a href="https://www.benzinga.com/government/24/09/40693260/kroger-albertsons-merger-in-ftc-crosshairs-customers-competitors-at-risk">between the two companies.&nbsp;</a>
The Details: The three-week-long U.S. District Court hearing ended on Tuesday. The FTC urged Judge Adrienne Nelson to issue a preliminary injunction to block the merger while its complaint goes before an in-house administrative law judge on Oct.1.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40888466/what-happened-with-microstrategy-stock-today">What Happened With MicroStrategy Stock Today?</a>
The proposed $24.6 billion deal would be the largest supermarket merger in U.S. history, if it goes through. Kroger and Albertsons argue the merger would allow them to lower prices for consumers, boost union jobs and compete with retail giants like Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).&nbsp;
According to a Reuters report, the FTC's chief trial counsel Susan Musser argued Tuesday that Kroger and Albertsons primarily compete with each other, rather than Amazon or Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), as well, and the merger would eliminate competition, leading to higher food prices for customers. 
"It's this local competition, in these local communities, that this merger will eliminate," Musser said.
KR, ACI Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Kroger shares ended Tuesday's session 2.13% lower at $55.04 and Albertsons shares closed 1.75% lower at $18.54.&nbsp;
Read Also:
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<li><a href="https://www.benzinga.com/news/24/09/40887805/whats-going-on-with-tupperware-brands-stock">What&#8217;s Going On With Tupperware Brands Stock?</a></li>
</ul>
Photo: Shutterstock

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Kroger, Albertsons Shares Dip After FTC Gives Closing Arguments In Hearing To Block Merger

Content creators MrBeast, Logan Paul and KSI have teamed up on a new food company called Lunchly that is taking on the well-known<a href="https://www.benzinga.com/markets/equities/23/08/33960652/kraft-heinz-plans-to-offer-lunchables-to-school-cafeterias-sees-multi-billion-opportunity-report"> ready-to-eat Lunchables brand.</a>
What Happened: Food giant Kraft Heinz Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NYSE">KHC</a>) may<a href="https://www.benzinga.com/markets/equities/24/01/36680301/this-warren-buffett-favorite-just-made-a-golden-cross-bullish-signals-on-the-horizon"> have trouble ahead</a> for its Lunchables brand with Lunchly now in direct competition.
Lunchly was launched with the "goal of revolutionizing lunch" and providing a focus on quality ingredients, delicious flavors and healthier options for the grab-and-go lunch sector, the creators said.
There are three <a href="https://lunchly.com/">Lunchly </a>meal options at launch: Turkey Stack ‘Ems, Pizza and Fiesta Nachos. Each meal comes with a PRIME hydration drink and a Feastables bar. PRIME was launched in 2022 by Paul and KSI; Feastables was also launched that same year by MrBeast.
Paul said Lunchables has dominated the lunch grab-and-go market for years and Lunchly will provide a "better option" for people looking for convenience and healthy options.
Lunchly products will hit stores later this month. A search on the company's website showed Kroger Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) locations as stores that will carry the products.
MrBeast said Lunchly will provide healthier and "better-tasting options.
"Lunchly is all about giving kids a fun, grab-and-go meal that's not just delicious, but also good for them. We're here to change what lunchtime looks like for the next generation," MrBeast, aka Jimmy Donaldson, said.
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Why It's Important: With three of the most widely followed names in content creation and people popular with the younger generation today, Lunchly could present a major challenge to Lunchables.
The news also comes at a bad time for Lunchables, which said in August that it was ready to offer Lunchables in school cafeterias with a potential $25 billion opportunity.
MrBeast is the <a href="https://www.benzinga.com/general/entertainment/24/07/39720279/mrbeast-celebrates-youtube-record-with-new-video-featuring-50-content-creators-competing-fo">most followed person </a>on YouTube with 315 million followers. PRIME has been one of the fastest growing beverages since it launched, hitting the <a href="https://www.benzinga.com/trading-ideas/23/11/35711957/logan-paul-ksis-prime-beverage-hits-1-billion-units-sold-should-pepsi-and-coca-cola-be-worried">one billion units sold milestone</a> in November.
Existing distribution deals that Feastables and PRIME have in place could help the company quickly land in retailers globally.
Bad news for Lunchables could also be bad news for billionaire Warren Buffett. Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) owns over 325 million Kraft Heinz shares and more than 25% of the company.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports/23/12/36314531/patrick-mahomes-signs-with-logan-paul-backed-prime-drink-company-why-this-could-be-bad-news-for-co">Patrick Mahomes Signs With Logan Paul-Backed PRIME Drink Company: Why This Could Be Bad News For Coca-Cola And Pepsi</a></li>
</ul>
Photos: MrBeast, Logan Paul, KSI via Shutterstock

Entertainment

Trading Ideas

MrBeast, Logan Paul, KSI Team Up To Launch Lunchly, Take On Lunchables — And Warren Buffett

The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) (the "Company" or "Kroger") announced today that it has extended the expiration date of the previously announced offers to exchange (the "Exchange Offers") any and all outstanding notes (the "ACI Notes") of Albertsons Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACI#NYSE">ACI</a>) ("ACI"), New Albertsons, L.P., Safeway Inc., Albertson's LLC, Albertsons Safeway LLC and American Stores Company, LLC, as applicable, for up to $7,441,608,000 aggregate principal amount of new notes to be issued by the Company (the "Kroger Notes") and cash. Additionally, Kroger announced today that it has extended the expiration date for the related solicitations of consents (collectively, the "Consent Solicitations") to adopt certain proposed amendments (the "Proposed Amendments") to the indentures (collectively, the "ACI Indentures") governing the ACI Notes, solely with respect to the Unconsented Series (as defined in the Company's press release issued on September 11, 2024). The Company hereby extends such expiration date from 5:00 p.m. New York City time on September 17, 2024 to 5:00 p.m. New York City time on September 23, 2024 (as the same may be further extended, the "Expiration Date").

Kroger Has Extended The Expiration Date For Its Exchange Offers And Consent Solicitations Related To Albertsons Companies Notes Until September 23, 2024

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our<a href="http://benzinga.com/analyst-stock-ratings"> analyst ratings page</a>.
<ul>
<li>Wells Fargo cut the price target for Pebblebrook Hotel Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEB#NYSE">PEB</a>) from $15 to $13. Wells Fargo analyst Dori Kesten maintained an Equal-Weight rating. Pebblebrook Hotel Trust shares rose 1.5% to trade at $12.98 on Friday. S<a href="https://www.benzinga.com/quote/PEB/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>TD Cowen cut the price target for Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) from $70 to $60. TD Cowen analyst Tyler Van Buren maintained a Hold rating. Moderna shares fell 4.9% to trade at $66.25 on Friday. <a href="https://www.benzinga.com/quote/mrna/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Truist Securities cut Zimmer Biomet Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZBH#NYSE">ZBH</a>) price target from $117 to $112. Truist Securities analyst Richard Newitter reiterated a Hold rating. Zimmer Biomet shares gained 1.8% to trade at $107.06 on Friday. <a href="https://www.benzinga.com/quote/zbh/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Guggenheim raised Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) price target from $185 to $200. Guggenheim analyst John Difucci maintained a Buy rating. Oracle shares rose 1% to trade at $162.87 on Friday. <a href="https://www.benzinga.com/quote/orcl/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs raised the price target for TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>) from $53 to $60. Goldman Sachs analyst Alexander Blostein maintained a Buy rating. TPG shares gained 3% to close at $55.55 on Friday. S<a href="https://www.benzinga.com/quote/tpg/analyst-ratings">ee how other analysts view this stock</a>.</li>
<li>UBS boosted CubeSmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBE#NYSE">CUBE</a>) price target from $53 to $54. UBS analyst Michael Goldsmith downgraded the stock from Buy to Neutral. CubeSmart shares fell 0.2% to trade at $53.81 on Friday. <a href="https://www.benzinga.com/quote/cube/analyst-ratings">See how other analysts view this stoc</a>k.</li>
<li>Stifel cut Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>) price target from $121 to $103. Stifel analyst Steve Wieczynski maintained a Buy rating. Wynn Resorts shares rose 3.6% to trade at $79.07 on Friday. <a href="https://www.benzinga.com/quote/wynn/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup cut the price target for Nabors Industries Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBR#NYSE">NBR</a>) from $110 to $75. Citigroup analyst Scott Gruber downgraded the stock from Buy to Neutral. Nabors Industries shares rose 0.5% to trade at $65.41 on Friday. <a href="https://www.benzinga.com/quote/nbr/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays slashed Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) price target from $181 to $133. Barclays analyst George Wang downgraded the stock from Equal-Weight to Underweight. Garmin shares fell 6.2% to trade at $170.74 on Friday. <a href="https://www.benzinga.com/quote/grmn/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Evercore ISI Group raised The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) price target from $62 to $63. Evercore ISI Group analyst Michael Montani maintained an Outperform rating. Kroger shares rose 1.1% to trade at $55.81 on Friday. <a href="https://www.benzinga.com/quote/kr/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
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GRMN

MRNA

ORCL

WYNN

Oracle To Rally Around 23%? Here Are 10 Top Analyst Forecasts For Friday

JP Morgan analyst Ken Goldman maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Overweight and raises the price target from $58 to $59.

JP Morgan Maintains Overweight on Kroger, Raises Price Target to $59

Evercore ISI Group analyst Michael Montani maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Outperform and raises the price target from $62 to $63.

Evercore ISI Group Maintains Outperform on Kroger, Raises Price Target to $63

Morgan Stanley analyst Simeon Gutman maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Equal-Weight and raises the price target from $57 to $58.

Morgan Stanley Maintains Equal-Weight on Kroger, Raises Price Target to $58

Telsey Advisory Group analyst Joseph Feldman maintains Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) with a Outperform and maintains $62 price target.

Telsey Advisory Group Maintains Outperform on Kroger, Maintains $62 Price Target

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining more than 50 points on Thursday.
The Dow traded down 0.11% to 40,814.73 while the NASDAQ rose 0.33% to 17,453.69. The S&amp;P 500 also rose, gaining, 0.13% to 5,561.28.
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Leading and Lagging Sectors Communication services shares rose by 1.2% on Thursday.
In trading on Thursday, real estate shares dipped by 0.6%.
Top Headline
Kroger Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) reported second-quarter adjusted earnings per share of 93 cents, beating the analyst consensus estimate of 91 cents.
Quarterly sales of $33.912 billion (nearly flat year over year) missed the street view of $34.090 billion. Excluding fuel, sales increased 1.3% compared to the same period last year.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>) shares shot up 33% to $21.17 after the company disclosed a settlement agreement with TP-Link Systems and raised its third-quarter revenue guidance.</li>
<li>Shares of Visionary Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GV#NASDAQ">GV</a>) got a boost, surging 174% to $5.57 after the company announced it signed an MoU with the Public Investment Fund of Saudi Arabia, investing $120 million to fully support the development of its various industry projects.</li>
<li>Smart for Life, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMFL#NASDAQ">SMFL</a>) shares were also up, gaining 39% to $1.1816. HRT Financial LP acquired a new stake in Smart for Life.</li>
</ul>
Equities Trading DOWN
<ul>
<li>ModivCare Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MODV#NASDAQ">MODV</a>) shares dropped 53% to $14.64 after the company announced a $200 million mixed securities shelf.</li>
<li>Shares of Fulcrum Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FULC#NASDAQ">FULC</a>) were down 60% to $3.5508 after the company announced that its Phase 3 REACH trial evaluating losmapimod in patients with FSHD, did not achieve its primary endpoint of change from baseline in RSA with losmapimod compared to placebo.</li>
<li>Oncternal Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCT#NASDAQ">ONCT</a>) was down, falling 58% to $1.7050 after the company announced termination of its clinical studies and exploration of strategic alternatives.</li>
</ul>
Commodities In commodity news, oil traded up 3.1% to $69.36 while gold traded up 1.5% at $2,581.40.
Silver traded up 3.5% to $29.935 on Thursday, while copper rose 1.4% to $4.1995.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.74%, Germany's DAX gained 0.89% and France's CAC 40 rose 0.42%. Spain's IBEX 35 Index rose 1.04%, while London's FTSE 100 rose 0.45%.
The annual inflation rate in Spain eased to 2.3% in August from 2.8% in July, while German wholesale prices fell by 1.1% year-over-year in August.
Asia Pacific Markets
Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 jumping 3.41%, Hong Kong's Hang Seng Index gaining 0.77%, China's Shanghai Composite Index falling 0.17% and India's BSE Sensex surging 1.77%.
Manufacturing production in Hong Kong increased 0.7% year-over-year during the second quarter. Producer prices in Japan rose by 2.5% year-over-year in August versus a 3.0% growth in the previous month.
Economics
<ul>
<li>U.S. producer prices rose 0.2% month-over-month in August compared to a revised flat reading in the previous month and higher than market estimates of 0.1%.</li>
<li>U.S. initial jobless claims increased by 2,000 from the earlier week to 230,000 in the week ending Sept. 7.</li>
<li>U.S. natural-gas stocks rose 40 billion cubic feet during the week ended Sept. 6, compared to market estimates of a 49 bcf gain.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40828657/top-3-tech-stocks-youll-regret-missing-in-september">Top 3 Tech Stocks You&#8217;ll Regret Missing In September</a></li>
</ul>

Equities

Eurozone

Commodities

Intraday Update

FULC

MODV

NTGR

ONCT

SMFL

Crude Oil Surges 3%; Kroger Posts Upbeat Earnings

Guidance

Kroger Exec Says Shrink Related To Theft Remains High On A Historical Basis

WIIM

Kroger shares are trading higher following Q2 earnings.

Market Summary

General

Benzinga Market Summary: PPI Figures Mixed, Moderna Cuts R&D Expenses, Kroger Rises On Earnings

Kroger Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) reported second-quarter adjusted earnings per share of 93 cents, beating the analyst consensus<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40830552/kroger-reports-second-quarter-2024-results-and-updates-full-year-identical-sales-without-fuel-guid" rel="noreferrer noopener"> estimate of 91 cents.</a>
Quarterly sales of $33.912 billion (nearly flat year over year) missed the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">street view of $34.090 billion</a>. Excluding fuel, sales increased 1.3% compared to the same period last year.
Kroger&#8217;s results show a 1.2% increase in identical sales excluding fuel, an operating profit of $815 million, and an adjusted FIFO operating profit of $984 million.
&#8220;We are growing households and increasing customer visits by offering a compelling combination of affordable prices and personalized promotions on great quality products, all through a unique seamless experience,&#8221; said &nbsp;CEO&nbsp;Rodney McMullen.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40830598/alaska-air-boosts-q3-earnings-forecast-amid-solid-summer-travel-surge" rel="noreferrer noopener">Alaska Air Boosts Q3 Earnings Forecast Amid Solid Summer Travel Surge</a>
The company achieved strong adjusted free cash flow and successfully executed its go-to-market strategy to deliver value to customers. Digital sales grew by 11%, and there was an increase in total households, customer visits, and loyal households.
Kroger exited the quarter with cash and temporary cash investments of $2.8 billion, with inventories of $6.64 billion.
The company&#8217;s long-term debt, including obligations under finance leases, totaled $12.034 billion.
Kroger&#8217;s net total debt to adjusted EBITDA ratio is 1.24 compared to 1.31 a year ago. The company&#8217;s net total debt to adjusted EBITDA ratio target range is 2.30 to 2.50.
Outlook: Kroger has affirmed its fiscal year 2024 adjusted EPS outlook, projecting a range of $4.30 to $4.50, <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">compared to the $4.44 estimate.</a>
&#8220;Our solid sales results through the first two quarters of the year give us the confidence to raise the low end of our full-year identical sales without fuel guidance by 50 basis points,&#8221; said Interim&nbsp;CFO&nbsp;Todd Foley.
The company now expects identical sales without fuel of&nbsp;0.75%&nbsp;to&nbsp;1.75% <a target="_blank" href="https://ir.kroger.com/news/news-details/2024/Kroger-Reports-First-Quarter-2024-Results-and-Reaffirms-Guidance/default.aspx" rel="noreferrer noopener">(prior view</a>: 0.25% to 1.75%).
Price Action: KR shares are trading higher by 1.20% to $52.12 premarket at last check Thursday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40826658/didnt-take-much-for-nvidia-to-get-people-excited-about-ai-says-strategist-after-jen" target="_blank" rel="noreferrer noopener">&#8216;Didn&#8217;t Take Much For Nvidia To Get People Excited About AI,&#8217; Says Strategist, After Jensen Huang Talks Up AI&#8217;s Potential Beyond Data Centers</a></li>
</ul>

Earnings

Kroger's Mixed Q2 Bag: Steady Sales, Earnings Beat, Revised Identical Sales Outlook & More

Full-Year 2024 Guidance&#x2A;
Reaffirmed
<ul>
<li>Adjusted FIFO Operating Profit of $4.6 &ndash; $4.8 billion</li>
<li>Adjusted net earnings per diluted share of $4.30 &ndash; $4.50</li>
<li>Adjusted Free Cash Flow of $2.5 &ndash; $2.7 billion&#x2A;&#x2A;</li>
<li>Adjusted effective tax rate of 23%&#x2A;&#x2A;&#x2A;</li>
</ul>
Updated
<ul>
<li>Identical Sales without fuel of 0.75% &ndash; 1.75%</li>
<li>Capital expenditures of $3.6 &ndash; $3.8 billion</li>
</ul>

Kroger Affirms FY24 Adj. EPS Outlook $4.30-$4.50 Vs. $4.44 Estimate, Sees Identical Sales +0.75% to +1.75%

Kroger Q2 Identical Sales Ex-Fuel +1.2%

Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) reported quarterly earnings of $0.93 per share which beat the analyst consensus estimate of $0.91 by 2.2 percent. This is a 3.12 percent decrease over earnings of $0.96 per share from the same period last year. The company reported quarterly sales of $33.912 billion which missed the analyst consensus estimate of $34.090 billion by 0.52 percent. This is a 0.17 percent increase over sales of $33.853 billion the same period last year.

Earnings Beats

Earnings Misses

Kroger Q2 2024 Adj. EPS $0.93 Beats $0.91 Estimate, Sales $33.912B Miss $34.090B Estimate

U.S. stocks could open Thursday&#8217;s session modestly higher after the remarkable recovery they staged in the previous session. The spotlight is on the producer price inflation report for August as traders seek confirmation regarding a sustained downward move in inflation, and the weekly jobless claims report may also create some ripples. The market may also focus on an interest rate decision from across the Atlantic. The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40827231/top-economist-says-ecb-will-kickstart-global-rate-cuts-warns-investors-of-increased">European Central Bank is widely expected to reduce rates </a>and kickstart a coordinated cut by the global central banks amid a letup in inflation and growth slowdown. That said, some negative tidings from the tech space could lead to some selling.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.10%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.14%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.16%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.48%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE: SPY gained 0.22% to $555.64 and the&nbsp;Invesco QQQ ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) rose 0.16% to $469.37, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
Wall Street ended higher on Wednesday &#8211; a session marked with volatility in which the 30-stock Dow Jones Industrial Average moved in a 910-point range. After starting lower in reaction to what was perceived as a not-so-benign August consumer price inflation report and presidential debate held overnight, the averages fell further in early trading. 
Positive comments on the potential of artificial intelligence technology by Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang at an industry conference kicked off a rally in the technology space and the broader market. IT stocks soared, leading the market higher, while communication services and consumer discretionary stocks also found buying interest. Defensive consumer staples and real-estate stocks lost ground, and financial and energy stocks extended their declines.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+2.17%</td>
<td>17,395.53</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.07%</td>
<td>5,554.13</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.31%</td>
<td>40,861.71</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.31%</td>
<td>2,103.85</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Carson Group Chief Market Strategist Ryan Detrick flagged a data point that holds out promise. While noting that the S&amp;P 500 Index came back from a loss of 1.5% intraday to finish higher by over 1%, he said the last time this happened was exactly at the end of the vicious bear market in Oct. 2022.
&#8220;Looking at previous big reversal days like this shows better than average returns across the board,&#8221; he added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The last time the S&amp;P 500 was down &gt;1.5%, but finished up &gt;1%? The exact lows at the end of the vicious bear market in Oct &#39;22. It happened again today. Looking at previous big reversal days like this shows better than avg returns across the board. <a href="https://t.co/mu8jPFEiNM">pic.twitter.com/mu8jPFEiNM</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1834075612719222989?ref_src=twsrc%5Etfw">September 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Following the CPI report, Comerica Chief Economist Bill Adams said the Fed is weighing the &#8220;stickiness of service price inflation on the one hand against the softening of the job market on the other hand.&#8221; The tradeoff points to a 25-basis-point cut at next week&#8217;s Fed meeting, he said. &#8220;The stickiness of service price inflation and shelter inflation suggests the Fed will cut rates slower than financial markets currently price in,&#8221; he added.</figcaption></figure>
See also: <a href="https://www.benzinga.com/money/how-to-trade-futures"> How To Trade Futures</a>
Upcoming Economic Data:
<ul>
<li>The Labor Department is scheduled to release the weekly jobless claims report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment benefits to come in at 225,000 in the week ended Sept. 7, slightly lower than the previous week&#8217;s 227,000. </li>
<li>The Bureau of Labor Statistics is due to release its August producer price inflation report, also at 8:30 a.m. EDT. The consensus estimates are as follows:
<ul>
<li>PPI (m-o-m): 0.1%, flat with the July rate</li>
<li>PPI (y-o-y): 1.8%, down from 2.2% in July</li>
<li>Core PPI (m-o-m): 0.2% versus unchanged prices in July</li>
<li>Core PPI (y-o-y): 2.5%, up from 2.4% in July</li>
</ul>
</li>
<li>The Treasury will auction four- and eight-week notes at 11:30 a.m. EDT and 30-year bonds at 1 p.m. EDT.</li>
<li>The Treasury is also due to release the federal budget balance report for August at 2 p.m. EDT, with the report widely expected to show of deficit of $285.7 billion compared to a deficit of $244 billion in July.</li>
</ul>
Stocks In Focus:
<ul>
<li>Oxford Industries, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXM#NYSE">OXM</a>) plunged over 10% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the company&#8217;s quarterly results.</li>
<li>Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) and Signet Jewelers Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) are scheduled to announce their <a href="https://www.benzinga.com/calendars/earnings">quarterly results before the market opens</a>, while Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) is due after the market closes.</li>
<li>Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) moved down over 2% on a negative analyst action.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) slumped over 7% after the company announced cost-cutting initiatives.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose for a second straight session and gold futures traded flat around the $2,550 level, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied back above $58K. The 10-year yield rose 2.3 basis points to 3.676%. 
Most Asian markets advanced, tracking the firmer close by Wall Street stocks, but China ended modestly lower. European stocks rose solidly in early trading, reacting to the post-noon recovery seen by U.S. stocks on Wednesday and hopes of an ECB rate cut. The decision is due at 8:15 a.m. EDT.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40826658/didnt-take-much-for-nvidia-to-get-people-excited-about-ai-says-strategist-after-jen">&#8216;Didn&#8217;t Take Much For Nvidia To Get People Excited About AI,&#8217; Says Strategist, After Jensen Huang Talks Up AI&#8217;s Potential Beyond Data Centers</a></li>
</ul>
Photo via Shutterstock

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

$BTC

ADBE

NVDA

Nasdaq, S&P 500 Set For Modest Gains As Investors Eye August Inflation Data And ECB Rate Decision

Catalyst Watch: Tesla deliveries, Nike earnings, port strike threat and the jobs report

Insider trades: Notable buys and sells by significant shareholders, executives and directors

PepsiCo is reportedly on the hunt to acquire Siete Foods

PepsiCo acquires Siete Foods for $1.2B as it eyes the Mexican-American food category

A flat week that was anticipated, one notable event was China's stimulus package announcement, which sent China-related stocks soaring. Most of these stocks surged without prior consolidations/warning signs. This week, we anticipate some retracement.

Comments

Kroger

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에 대한 최신 뉴스 Kroger (NYSE:KR) 주식

토요일, 10월 05, 2024

사람들이 또한 지켜본다

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