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☆ Evercore ISI upgrades Kroger, sees shares jumping 18% as inflation boosts grocery shopping
▼ + stars: | 2022-11-09 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Now is the time to buy into shares of Kroger, according to Evercore ISI. The firm on Wednesday upgraded the grocery chain to outperform from in-line and raised its price target to $56 from $49. He also sees further potential for upside when the merger between Kroger and Albertsons is completed, adding fuel to his bull case for the stock. Albertsons merger boost The planned merger with Albertsons could add a nice kicker to Kroger shares at the end of the year. If the merger doesn't go as smoothly as hoped or price cuts hurt Kroger's sales, the upside that Evercore sees could fizzle.

☆ What Cramer is watching Wednesday — Disney CEO must go, no Red wave, Meta job cuts
▼ + stars: | 2022-11-09 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

We looked how Club stocks did a year after the past five midterms. Affirm (AFRM): Many price target cuts and the stock down 12% in the premarket. Morgan Stanley cuts price target to $11.50 per share from $15; keeps underperform (sell) rating. BofA cuts price target to $61 per share from $73. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, AMC, Kroger, Disney, Robinhood & more
▼ + stars: | 2022-11-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Evercore ISI upgrades Kroger to outperform from in line Evercore said in its upgrade of the stock that it sees "high teen upside." Wedbush reiterates Tesla as outperform Wedbush says it's concerned about company founder Elon Musk selling shares of Tesla. "For Musk who multiple times over the past year has said he is 'done selling Tesla stock' yet again loses more credibility with investors and his loyalists in a boy who cried wolf moment. Musk is the most important part of the Tesla story by a wide margin and every move he makes has a major impact on Tesla stock." Morgan Stanley reiterates Disney as outperform Morgan Stanley says it's standing by shares of Disney after the company's disappointing earnings report on Tuesday.

Nov 3 (Reuters) - A state court in Washington has temporarily blocked Albertsons Companies Inc (ACI.N) from paying a $4 billion dividend to shareholders before the grocery chain closes its proposed deal with rival Kroger Co (KR.N), documents filed said on Thursday. Kroger Co (KR.N) snapped up Albertsons in a $25 billion deal in last month's mega merger between the No. "By eliminating its cash-on-hand and nearly doubling its debt, Albertsons will be in a weakened competitive position relative to Kroger, thereby harming grocery consumers and workers throughout Washington," State Court Commissioner Henry Judson wrote in issuing the temporary restraining order. Washington State Attorney General Bob Ferguson called the temporary order a "huge victory". In its statement, Albertsons said on Thursday the court order was based on the "incorrect assertion" that the dividend payout would weaken its competitiveness while antitrust agencies review the proposed merger.

Nov 3 (Reuters) - Washington's King County court has granted a nationwide temporary restraining order, blocking grocery chain Albertsons Companies Inc's (ACI.N) $4 billion dividend payment, State Attorney General Bob Ferguson tweeted on Thursday. loading"We'll be back in court Nov. 10 seeking an injunction to keep the dividend on hold while our lawsuit continues," Ferguson said in a tweet. Supermarket operator Kroger Co (KR.N) snapped up Albertsons in a $25 billion deal last month, to better compete against U.S. grocery industry leader Walmart Inc on prices. Ferguson filed a lawsuit on Tuesday to block Albertsons from paying dividends to shareholders before closure of its proposed merger with Kroger. The attorneys general of Washington D.C., California and Illinois also filed a lawsuit on Wednesday in a federal court seeking to block the dividend payment alleging that the proposed dividend was in violation of federal and state antitrust laws by rendering Albertsons less able to compete effectively with other supermarkets.

☆ Kroger, Albertsons unions, antitrust experts urge FTC to block merger -letter
▼ + stars: | 2022-11-03 | by ( Siddharth Cavale | ) www.reuters.com time to read: +2 min

"The merger should be blocked, as it would harm workers, consumers and communities," said the United Food & Commercial Workers (UFCW) Local 400, who authored the letter. Twenty-six organizations undersigned the message, including the American Economic Liberties Project, Center for Economic and Policy Research, along with seven UFCW local chapters representing more than 100,000 Kroger and Albertsons' workers. The letter, first seen by Reuters, also urged the FTC to immediately investigate Albertsons' "unusual" $4 billion dividend to shareholders on Nov. 7, which it said would leave the company "largely depleted of liquid assets" and "unsustainable as an ongoing concern." read more"The allegation that this dividend will somehow hinder our ability to compete in the marketplace is meritless," an Albertsons spokesperson said in an emailed response to the letter. Reporting by Siddharth Cavale in New York; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Walmart has agreed to pay $3.1 billion, mostly up front, according to two people familiar with the matter. The proposed settlement, which would be the first nationwide deal with retail pharmacy companies, follows nationwide opioid settlements with drugmakers and distributors totaling more than $33 billion. CVS, Walgreens and Walmart are the three largest retail pharmacies in the country by market share. The agency has attributed much of the recent rise in overdose cases to illegally manufactured fentanyl, a powerful synthetic opioid. A congressional report last month put the economic toll of the opioid crisis in 2020 alone at $1.5 trillion.

☆ Washington state sues to block Albertsons' $4 bln payout to shareholders
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Washington State Attorney General Bob Ferguson filed a lawsuit on Tuesday to block grocery chain Albertsons Cos Inc (ACI.N) from paying dividends to shareholders before closure of its proposed merger with supermarket operator Kroger Co (KR.N). The $4 billion payout to shareholders "risks severely undercutting the grocery giant's ability to compete during the lengthy time period government regulators — including Washington — will be scrutinizing the merger," according to a statement posted to the Washington Attorney General's website. "Paying out $4 billion before regulators can do their job and review the proposed merger will weaken Albertsons' ability to continue business operations and compete," Ferguson said. Kroger and Albertsons did not immediately respond to a request for comment on the AG's lawsuit. Late in October, District of Columbia Attorney General Karl Racine said that half-a-dozen state attorneys general are digging into Kroger planned acquisition of Albertsons.

☆ Ocado enters South Korea with Lotte Shopping deal
▼ + stars: | 2022-11-01 | by ( James Davey | ) www.reuters.com time to read: +3 min

REUTERS/Paul ChildsSummarySummary Companies Lotte Shopping becomes Ocado's 12th partnerOcado to build six robotic warehouses by 2028Ocado shares soar 34%LONDON, Nov 1 (Reuters) - Ocado (OCDO.L), the British online supermarket and technology group, has entered South Korea, one of the most mature e-commerce markets in the world, through a partnership deal with Lotte Shopping (023530.KS), the companies said on Tuesday. Lotte, South Korea's second largest grocer, becomes Ocado's 12th partner across 10 countries. Ocado's in-store fulfilment technology will also be rolled out across Lotte stores from 2024. Lotte Shopping, part of South Korea's Lotte Group conglomerate, operates department stores, hypermarkets, supermarkets and e-commerce, with more than 1,000 stores nationwide and an annual revenue of 9.5 billion pounds ($10.9 billion). Ocado Group's shares have been hurt this year by the performance of Ocado Retail, its retail joint venture with Marks & Spencer (MKS.L).

☆ What Cramer is watching Monday — October's stock pop, tech reign over, China's zero Covid
▼ + stars: | 2022-10-31 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Club holding Wynn Resorts (WYNN) jumps 5% in the premarket after a 4.5% pop Friday. UBS downgrades Caterpillar (CAT) to neutral (hold) from buy; cuts price target by $5-per-share to $230, which is silly. Outback Steakhouse owner Bloomin' Brands (BLMN): two price target boosts, Citi and Barclays. Barclays: LyondellBasell (LYB) downgraded to equal weight from overweight (hold from buy), cut price target to $82 per share from $95. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ U.S. state attorneys general probing Kroger deal for Albertsons
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] A customer leaves an Albertsons grocery store, as Kroger agrees to buy rival Albertsons in a deal to combine the two supermarket chains, in Riverside, California, U.S., October 14, 2022. REUTERS/Aude GuerrucciWASHINGTON, Oct 26 (Reuters) - A half dozen state attorneys general are digging into Kroger's (KR.N) planned acquisition of rival grocery chain Albertsons (ACI.N), District of Columbia Attorney General Karl Racine said on Wednesday. read moreRacine, along with attorneys general from Arizona, California, Idaho, Illinois and Washington state, also urged the chief executive of Albertsons to delay $4 billion in payments to shareholders until the state merger review is done and the deal closes. Albertsons, which owns Safeway and other grocery chains, said on Oct. 18 it would give shareholders a special dividend of up to $4 billion. An Albertsons spokesperson said in an emailed statement that the special dividend allows the company "to return cash to all of Albertsons Companies’ shareholders," adding that it would continue to be well-capitalized after the dividend is paid.

The spin-out structure would make it easier and faster for Kroger and Albertsons to divest stores if they cannot easily sell them outright, people familiar with the arrangement said. The companies may struggle to find many buyers because Albertsons' stores are unionized, making them less attractive to potential bidders such as private equity firms. Kroger and Albertsons are likely to shed their least profitable stores and keep the best ones to themselves, analysts said. That region contains the most store-overlap between Kroger and Albertsons and is where divestitures are most likely, according to analysts. They intend for the spun-off company to not carry any debt, the sources added.

☆ What would a Kroger-Albertsons merger mean for grocery prices?
▼ + stars: | 2022-10-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

A Kroger-Albertsons merger could reshape the grocery industry. The companies say they will divest hundreds of stores in areas where they overlap to win regulatory approval. Albertsons has higher prices than Kroger and other grocers, analysts say, and they predict Kroger will try to reduce Albertsons prices to be more competitive against discount chains like Aldi. Antitrust advocates say the merger would force out competition and concentrate power among the largest chains, driving up prices. A Kroger-Albertsons merger would spark a fresh wave of mergers and acquisitions as companies seek to keep up, analysts predict.

☆ Premarket stocks: The housing market is a mess, but this isn't 2008
▼ + stars: | 2022-10-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But within those reports, investors found ominous clues about the future of the housing market, underscoring fears of an upcoming crisis. “We’ve had a time of a red-hot housing market all over the country,” Fed President Jerome Powell told me in September. “For the longer term what we need is supply and demand to get better aligned so that housing prices go up at a reasonable level…and people can afford houses again. “This is the sharpest turn in the housing market since the housing market crash in 2008,” said Redfin’s chief economist, Daryl Fairweather, last month. What’s next: Investors will next look to housing starts data next week as an indicator of where the housing market is headed.

☆ Wall St drops as consumer data stokes inflation worry
▼ + stars: | 2022-10-15 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

SummarySummary Companies JPM reports higher-than-expected Q3 profitS&P 500, Nasdaq post weekly declinesU.S. consumer sentiment edges up October; inflation ests. "The main thrust for the market right now is higher interest rates, higher inflation and the Fed is going to continue to move its fed funds target higher," said Anthony Saglimbene, chief market strategist at Ameriprise Financial in Troy, Michigan. For the week, the Dow gained 1.15%, the S&P 500 lost 1.56% and the Nasdaq fell 3.11%. Analysts now expect third-quarter profits for S&P 500 companies to have risen just 3.6% from a year ago, much lower than an 11.1% increase expected at the start of July, according to Refinitiv data. The S&P 500 posted 5 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 71 new highs and 235 new lows.

☆ Top Republican on Senate antitrust panel promises oversight of grocery deal
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Oct 14 (Reuters) - The top Republican on a U.S. Senate antitrust panel, Senator Mike Lee, promised on Friday that there would be significant oversight of a plan by Kroger Co (KR.N) to buy rival Albertsons Cos Inc (ACI.N). "Utahns, like all Americans, are suffering from skyrocketing food prices," Lee said in a statement. "I will do everything in my power to ensure our antitrust laws are robustly enforced to protect consumers from anticompetitive mergers that could further exacerbate the financial strain we already feel in the grocery store checkout aisle." The $24.6 billion deal was announced Friday. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Diane BartzOur Standards: The Thomson Reuters Trust Principles.

☆ Wall St drops as inflation worries persist
▼ + stars: | 2022-10-14 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 7, 2022. REUTERS/Brendan McDermidSummarySummary Companies JPM reports higher-than-expected Q3 profitS&P 500, Nasdaq poised for weekly declinesU.S. consumer sentiment edges up October; inflation ests. Register now for FREE unlimited access to Reuters.com RegisterThe data came a day after a reading on consumer prices showed inflation remains stubbornly high. The Dow was on track to close out the week with a gain while the S&P 500 and Nasdaq were poised for weekly declines. The S&P 500 posted 5 new 52-week highs and 5 new lows; the Nasdaq Composite recorded 56 new highs and 171 new lows.

A 20-ounce packet of Sara Lee Classic White Sandwich bread goes for $2.50 at Kroger, compared to $2.24 at Walmart. Nearly two-thirds of Kroger's 2,700 stores are unionized, like a "majority" of Albertsons stores, the United Food and Commercial Workers Union says on its website. Grocery stores such as Kroger, Albertsons, in contrast, are often forced to rely on coupons or buy-one-get-one-free promotions funded by companies like P&G and Conagra in order to compete. Euromonitor data shows that 25.2% of all dollars spent on groceries in the United States last year went to Walmart, while Kroger got 8.1% and Albertson's 4.8%. Walmart shoppers have a median income of $73,000.

☆ What Cramer is watching Friday — Wells Fargo crushes it, bond yields sink on flat retail sales
▼ + stars: | 2022-10-14 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Club holding Wells Fargo (WFC): net interest margin (NIM) in the third quarter 2.83% versus 2.68% expected. Revenue $19.51 billion versus $18.81 billion. Net interest income (NII) in Q3 $12.1 billion versus $11.6 billion expected. Guidance for Q4 NII $12.9 billion versus $12.42 billion expected. Q3 net interest income reported: $17.52 billion versus consensus $16.92 billion.

☆ Kroger to acquire rival Albertsons in near $25 billion deal
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: 1 min

Oct 14 (Reuters) - Supermarket chain Kroger Co (KR.N) said on Friday it will buy smaller rival Albertsons Companies Inc (ACI.N) in a $24.6 billion deal. Kroger said it will pay $34.10 for each Albertsons share, representing a premium of about 33% to the stock's last closing price on Wednesday, a day before media reports of a deal between the two surfaced. The merger would create a supermarket titan, bringing together more than 2,700 Kroger stores across the United States and over 2,200 Albertsons locations. The combined entity is expected to have annual sales of around $210 billion. Register now for FREE unlimited access to Reuters.com RegisterReporting by Deborah Sophia in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

A 20-ounce packet of Sara Lee Classic White Sandwich bread goes for $2.50 at Kroger, compared to $2.24 at Walmart. Nearly two-thirds of Kroger's 2,700 stores are unionized, like a "majority" of Albertsons stores, the United Food and Commercial Workers Union says on its website. Grocery stores such as Kroger, Albertsons, in contrast, are often forced to rely on coupons or buy-one-get-one-free promotions funded by companies like P&G and Conagra in order to compete. Euromonitor data shows that 25.2% of all dollars spent on groceries in the United States last year went to Walmart, while Kroger got 8.1% and Albertsons 4.8%. Walmart shoppers have a median income of $73,000.

☆ Stocks making the biggest moves premarket: Albertsons, JPMorgan Chase, Beyond Meat and more
▼ + stars: | 2022-10-14 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

JPMorgan Chase (JPM) – JPMorgan Chase shares added 2.3% in the premarket after beating top and bottom line estimates for the third quarter. The bank's results were boosted by higher net interest income, helping offset lower deal-making revenue and higher loan loss reserves. UnitedHealth Group (UNH) – The health insurer rose 1.6% in the premarket after beating top and bottom line estimates for the third quarter and raising its outlook. Nutanix (NTNX) – The cloud computing company's shares surged 15.9% in the premarket after the Wall Street Journal reported that Nutanix is exploring a possible sale. Beyond Meat (BYND) – Beyond Meat slumped 8.7% in the premarket after reducing its revenue outlook and announcing another round of job cuts, pointing to reduced demand for its plant-based meat products and increasing competition.

☆ Kroger has to win over Wall Street and Washington on its Albertsons deal – here's how it plans to do that
▼ + stars: | 2022-10-14 | by ( Melissa Repko | ) www.cnbc.com time to read: +5 min

In this article ACIKR Follow your favorite stocks CREATE FREE ACCOUNTA customer shops for eggs in a Kroger grocery store on August 15, 2022 in Houston, Texas. Brandon Bell | Getty ImagesKroger knows it needs the blessing of investors and federal regulators to pull off its $24.6 billion deal to buy rival grocery company Albertsons . If approved, the grocers would become a more formidable second place in terms of grocery market share behind Walmart . Together, the companies would capture nearly 16% of the U.S. grocery market, according to market researcher Numerator. That's because Wall Street has already seen a spree of grocer acquisitions — including some by Kroger and Albertsons — but no meaningful changes in profit margins.

From a broader national perspective, a combined Kroger and Albertsons does not pose any major threat to the competitive dynamics of the market." Kroger said it expects to reinvest about half a billion dollars of cost savings from deal synergies to reduce prices for customers. "The merger will accelerate our position as a more compelling alternative to larger and non-union competitors," Kroger Chief Executive Officer Rodney McMullen said. Goldman Sachs and Credit Suisse were the financial advisors to Albertsons, while Citigroup and Wells Fargo advised Kroger. Kroger will have to pay Albertsons $600 million if the deal is terminated.

☆ Factbox: Mega merger talks turn spotlight on Kroger, Albertsons
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: 1 min

Oct 13 (Reuters) - Grocery giant Kroger Co (<KR.N>) is in talks to merge with smaller rival Albertsons Companies Inc (<ACI.N>), Bloomberg News reported on Thursday, in what would be one of the biggest deals in the U.S. retail landscape in recent years. A potential deal would create a combined company with a market cap of about $47 billion and nearly $210 billion in annual sales. Here are some key facts about the grocers:Register now for FREE unlimited access to Reuters.com RegisterReporting by Deborah Sophia in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

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