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Safeway breaks out of a channel, but it's not out of the woods yet

Grocer Safeway Inc. (NYSE: SWY), first recommended on February 20, 2009 at a price of $20.90, remains a Buy, but there are changes to the recommendation, so follow closely.

Most important: Safeway is now a high-risk stock, a demotion from moderate-risk. Don't Buy Safeway's shares if you can't tolerate high risk.

Continue reading Safeway breaks out of a channel, but it's not out of the woods yet

Analyst upgrades, downgrades and initiations: GOOG, HOG, NOK, SWY, WAG, WSM ...

Analyst upgrades:

  • Keefe Bruyette upgraded Intercontinental Exchange (NYSE: ICE) to Outperform from Market Perform on expectations that derivatives trading will increase in the coming quarters.
  • NutriSystem (NASDAQ: NTRI) was upgraded to Buy from Neutral by Janney Montgomery, which believes that the company's earnings have hit bottom, while the company could report better-than-expected Q1 results.
  • Harley-Davidson (NYSE: HOG) was upgraded to Outperform from Sector Perform at RBC Capital. The firm thinks the company is an early-cycle story that has significant upside potential.
  • UBS upgraded Walgreen (NYSE: WAG) to Buy from Neutral citing cost cutting efforts and slowing store growth.
  • Google (NASDAQ: GOOG) was upgraded to Buy from Hold at Benchmark Co.
  • Safeway (NYSE: SWY) was upgraded to Buy from Hold by BB&T.
  • Needham upgraded Targacept (NASDAQ: TRGT) to Buy from Hold.
  • Sierra Wireless (NASDAQ: SWIR) was raised to Buy from Hold at Jesup & Lamont.

Continue reading Analyst upgrades, downgrades and initiations: GOOG, HOG, NOK, SWY, WAG, WSM ...

Safeway expected to post lower Q3 earnings

Safeway Inc. (NYSE: SWY), one of North America's largest food retailers, is scheduled to discuss its third quarter 2009 financial results in a conference call Thursday at 11:00 AM ET. You can catch the live webcast of the call on the company's website.

During the three months that ended in September, Safeway appointed new board members, offered seasonal flu shots, and declared a quarterly dividend. Analysts surveyed by Thomson Reuters expect this Pleasanton, Calif.-based grocer to report that earnings fell 34.8% from a year ago to $0.30 per share. Sales for the quarter are expected to be 7% lower to $9.5 billion.

Continue reading Safeway expected to post lower Q3 earnings

The week in preview: Is FedEx still a bellwether?

Memphis-based package delivery giant FedEx Corp. (NYSE: FDX) is generally seen as an indicator of the state of commerce in the U.S. Last week, not only did the Fed's Beige Book report suggest that the economy had stabilized over the summer, with signs of recovery in some districts, But FedEx also boosted its earnings guidance due to stronger-than-expected volume in its international priority-delivery service. So a question going in to FedEx's fiscal first-quarter report this week is whether the company is still a bellwether.

For the three months that ended in August, when FedEx opened distribution hubs in Chicago and Toledo and declared a quarterly dividend, analysts surveyed by Thomson Reuters are looking for it to report that earnings fell 60.2% from a year ago to $0.49 per share. That's also down 23.4% from the previous quarter, as well as less than the recently updated outlook. First quarter revenue is expected to be down 18.3% from a year ago to $8.2 billion.

Continue reading The week in preview: Is FedEx still a bellwether?

Analyst upgrades, downgrades and initiations: AMGN, KR, ROSE, SWY, YUM ...

Analyst upgrades:

  • Citigroup upgraded Brightpoint (NASDAQ: CELL) to Buy from Hold on expectations global handset units will trough in 2009, leading to a higher multiple for the stock. Citi raised its target on shares to $9 from $6.50.
  • FBR Capital upgraded Rosetta Resources (NASDAQ: ROSE) to Outperform from Market Perform on valuation and believes drilling results in Q3 and Q4 should serve as near-term catalysts. The firm raised its target on shares to $15.
  • Piper Jaffray upgraded Echelon (NASDAQ: ELON) to Neutral from Underweight following the company's contract announcement with Duke Energy (NYSE: DUK). The firm raised its target on shares to $10 from $6.
  • Smith & Nephew (NYSE: SNN) was upgraded to Equal Weight from Underweight at Morgan Stanley.
  • Schawk (NYSE: SGK) was upgraded to Neutral from Underperform at Baird.
  • Alpha Natural (NYSE: ANR) was upgraded to Outperform from Market Perform at BMO Capital.

Continue reading Analyst upgrades, downgrades and initiations: AMGN, KR, ROSE, SWY, YUM ...

Earnings highlights: Home Depot, Target, Sears, Campbell, Deere and more

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Home Depot, Target, Sears, Campbell, Deere and more

Analyst upgrades, downgrades and initiations: TGT, SWY, CSIQ, HOTT, MPEL, RIO, CPB, CVD and HGG

Analyst upgrades:
  • UBS upgraded Target (NYSE: TGT) to Buy from Neutral and raised its price target to $52 from $45 citing reduced inventories, some credit stability, and an improved back-to-school period.
  • Credit Suisse said concerns regarding Safeway's (NYSE: SWY) price position are overblown and that earnings risk is limited. The firm upgraded shares to Outperform from Neutral and raised the target price to $25 from $22.
  • Oppenheimer upgraded Canadian Solar (NASDAQ: CSIQ) to Outperform from Perform as it believes the story is underappreciated following the recent sector rally. The firm has a $14 price target on the stock.
  • CME Group (NASDAQ: CME) was upgraded to buy from Neutral at Goldman.
  • Freeport McMoRan (NYSE: FCX) was upgraded to Overweight from Neutral at JP Morgan.
  • Gilead Sciences (NASDAQ: GILD) was upgraded to Buy from Neutral at FTN Equity.

Continue reading Analyst upgrades, downgrades and initiations: TGT, SWY, CSIQ, HOTT, MPEL, RIO, CPB, CVD and HGG

Earnings highlights: Campbell, Sears, Home Depot, Nordstrom, Marvel and more

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Campbell, Sears, Home Depot, Nordstrom, Marvel and more

Safeway (SWY) Q4 earnings miss estimates

SWY logoSafeway (NYSE: SWY - option chain) stock is falling today after the company reported a fourth-quarter profit of $338 million, or 79 cents per share, missing analysts' projections of 81 cents per share. The grocery industry is generally expected to be a strong one during tough economic times, but the past few months have been hard on these stocks too. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on SWY.

This morning, SWY opened at $19.83. So far today the stock has hit a low of $18.18 and a high of $19.84. As of 12:10, SWY is trading at $19.00, down $2.12 (-10.0%). The chart for SWY looks neutral and S&P gives SWY a 3 STARS (out of 5) hold ranking.

Continue reading Safeway (SWY) Q4 earnings miss estimates

The week in preview: Eye on Marvel, KBR, First Solar, Deckers and more

Analysts surveyed by Thomson Reuters expected the parade of earnings declines to continue into the final week of February, with Martha Stewart Living Omnimedia Inc. (NYSE: MSO), Nordstrom Inc. (NYSE: JWN), Home Depot Inc. (NYSE: HD), Wynn Resorts Ltd. (NASDAQ: WYNN), Macy's Inc. (NYSE: M), DreamWorks Animation SKG Inc. (NYSE: DWA), Limited Brands Inc. (NYSE: LTD), Target Corp. (NYSE: TGT), Royal Bank Of Canada (NYSE: RY), Del Monte Foods Co. (NASDAQ: DLM), Kohl's Corp. (NYSE: KSS), Washington Post Co. (NYSE: WPO), Dell Inc. (NASDAQ: DELL), Gap Inc. (NYSE: GPS), Campbell Soup Co. (NYSE: CPB), RadioShack Corp. (NYSE: RSH), and H.J. Heinz Co. (NYSE: HNZ) all expected to post lower earnings for the most recent quarter. Office Depot Inc. (NYSE: ODP), Saks Inc. (NYSE: SKS), and Cooper Tire & Rubber Co. (NYSE: CTB) are expect to have swung to a loss.

Continue reading The week in preview: Eye on Marvel, KBR, First Solar, Deckers and more

Safeway: A frugality play, for the new era

Acting boldly in any stock market carries with it considerable risk. Acting boldly in this market, amid the U.S. recession and an unresolved toxic asset situation, and you're looking at a 30-40% haircut up ahead. (Or worse.)

Still, investors capable of tolerating risk would be wise to position themselves in a few defensive plays with decent upside potential. But let's make one thing clear: defensives with an upside are not, strictly speaking, conventional defensive plays. They carry more risk but, one could argue, that risk is reasonable, given the potential for the capital appreciation pop. With the above as a backdrop, grocery chain Safeway (NYSE: SWY) is worth a review.

Continue reading Safeway: A frugality play, for the new era

Cramer on BloggingStocks: Staggering losses of capital

TheStreet.com's Jim Cramer says big-caps are now mid-caps, mid-caps are now small-caps. The carnage is widespread and remarkable.

If you want revelations, go over the largest-cap companies right now vs. the ones that were the largest-cap last year at this time. The stocks, the losses, the changes, they are staggering.

First, the aggregate: The largest 100 companies a year ago were worth $8 trillion; they're now worth $5 trillion. That's a lot of missing trillions. In the day-to-day drudgery and decline, they seem largely unaccounted for until you look at each line item.

Continue reading Cramer on BloggingStocks: Staggering losses of capital

Is romance the latest recession victim?

Diamond Rings, Tiffany, Blue NileAs John, Paul, George, and Ringo once said, "Money can't buy me love." While true, money can buy long-stemmed roses, expensive dinners, theater tickets, and jewelry. On the flip side, this money can be tucked away for a rainy day -- the fancy floral delivery replaced with daisies from the grocery store, the pricey meal forgone for the cozy neighborhood spot (or fondue at home).

Many of us have long criticized St. Valentine's Day as a holiday conceptualized and fueled by Hallmark and American Greetings (NYSE: AM). But even more of us fall into its trap, spending a nice chunk of change in mid-February to prove our affection to our significant other.

Continue reading Is romance the latest recession victim?

Stocks in the news: GS, GM, F, C, BBY, ADBE, CEG, BRK.A, BAC, AAPL ...

Goldman Sachs Group Inc. (NYSE: GS) is expected to report a fiscal fourth-quarter loss of $3.50-$3.73 a share according to different sources due to the falling value of many of its investments. The whisper number, however, may be worse, not to mention that future earnings and revenue are very much in jeopardy too due to the current climate which doesn't lend itself to people needing the services Goldman has to offer. Update: GS shares jumped over 5% after the bank said it lost $2.1 billion, or $4.97 a share during the fourth quarter.

General Motors Corp. (NYSE: GM), Ford Motor Co. (NYSE: F) and Chrysler may be receiving strong signals from the White House that short-term help in the amount of $15 billion for the latter two is on the way. GM and Ford shares traded over 2% higher in premarket action.

Citigroup Inc. (NYSE: C)'s Japanese subsidiary said it will sell its Japanese trust banking unit to Mitsubishi UFJ Trust and Banking in an all-cash deal, valued at 25 billion yen ($277.6 million). The deal is expected to close around April 1. Citi shares were higher in premarket trade following the announcement. Citi also voiced upbeat view on Dubai.

Best Buy (NYSE: BBY) is also expected report earnings of 25 cents per share before the bell. Update: BBY profit fell, but it reaffirmed outlook; shares climb 6.5% in premarket trade. Adobe Systems Inc. (NASDAQ: ADBE) is due to report after the close and is expected to report profit of 58 cents a share for the latest quarter.

Continue reading Stocks in the news: GS, GM, F, C, BBY, ADBE, CEG, BRK.A, BAC, AAPL ...

Stock picks and pans for troubled times: DV, DLTR, BP, ATI, GE, C, MO, K, AAPL, CELG ...

Seems that even this shortened week was full of news and happenings, in the U.S. and around the world. With Citigroup Inc. (NYSE: C) being bailed out by the U.S. government at the beginning of the week and China announcing fiscal and monetary stimulus plans, the Dow industrials finished in positive territory four days in a row.

But as analysts and pundits, as well as each and every economic release -- in the U.S. and around the world -- remind us, we are not out of the woods yet and the rally has really been a bear-market rally.

Investors looking to take advantage of such rallies, or at least feel they hold stable long-term holdings, can search this week's BloggingStocks' contributors' picks:

Apollo Group (NASDAQ: APOL) and Devry Inc. (NYSE: DV) -- It's often been suggested that educators do well in times of recession and high unemployment as workers look to improve or change their education to get a better job. Leo Fasciocco thinks these two are poised for a breakout.

Dollar Tree Inc. (NASDAQ: DLTR) reported stronger-than-expected earnings this week and also hiked its forecast. Not surprisingly, cash-strapped consumers turn more and more to discounters. Dollar Tree may continue to benefit from the economic downturn and the stock could also experience a short-squeeze rally.

Continue reading Stock picks and pans for troubled times: DV, DLTR, BP, ATI, GE, C, MO, K, AAPL, CELG ...

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Symbol Lookup
IndexesChangePrice
DJIA-70.4410,380.51
NASDAQ-16.872,159.14
S&P 500-6.091,100.15

Last updated: November 24, 2009: 10:22 AM

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