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Monthly Archives: June 2011

Kroger beats by $0.06, beats on revs; raises FY12 EPS, comp guidance

Reports Q1 (Apr) earnings of $0.70 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.64; revenues rose 11.0% year/year to $27.46 bln vs the $26.66 bln consensus; comps ex-fuel +4.6%. Co raises guidance for FY12, sees EPS of $1.85-1.95, up from $1.80-1.92 vs. $1.90 Capital IQ Consensus Estimate. Based on the current operating environment, the co expects to achieve results near the top end of this range. The increase reflects the strength of the co’s first quarter results and the higher estimated LIFO charge. The co now expects identical supermarket sales growth, excluding fuel, of 3.5% to 4.5% for the year, up from 3-4% perviously. FIFO gross margin was 21.42% of sales for 1Q11. Excluding retail fuel operations, FIFO gross margin decreased 4 bps from the same period last year. Supermarket selling gross margin declined 7 bps without fuel from the same period last year.

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Flash: Greek CDS Blow Out Further

5 year Greek CDS 1,900 bps.

Additionally, both Irish and Portuguese CDS are above 800 bps.

NOTE: Spanish CDS about 310 bps and Italian are trading a tad under 200 bps

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Housing and Labor Mobility

Interesting paper written on the housing effect and labor mobility. The writers argue that lower home prices and negative equity have helped to create a lock in effect

Full article

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Slow Motion Crash

Wien of Blackstone is the latest to gang up on Whitney, but with $112 billion in state budget deficits I think Whitney will win in the end with her harsh call.

Full article

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Economists Put Western Growth on the Guillotine

Japan  gets an upgraded outlook while G-8 nations get not much fanfare till the end of next year.

Greece is big on the list of fears.

GDP for the U.S. gets slashed to 2.5 % from 3.3…..

Full article

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Today’s Large Cap Carnage

Today’s biggest losers with market caps over $5billion

No. Ticker % Change Market Cap
1 BBVA -5.68 51,060,000,000
2 STD -5.45 100,460,000,000
3 CBG -5.40 7,690,000,000
4 AWC -5.36 5,800,000,000
5 NXPI -5.36 6,360,000,000
6 NBG -5.34 6,250,000,000
7 SINA -5.23 5,770,000,000
8 LNC -5.23 8,630,000,000
9 TI -5.16 26,520,000,000
10 ANR -5.14 5,530,000,000
11 NMR -5.05 17,820,000,000
12 CTXS -5.05 15,330,000,000
13 MET -4.97 43,630,000,000
14 NOK -4.95 23,220,000,000
15 CRH -4.84 15,090,000,000
16 HIG -4.80 11,140,000,000
17 BIDU -4.77 43,540,000,000
18 LPL -4.75 10,390,000,000
19 STO -4.65 79,450,000,000
20 TEF -4.63 107,400,000,000
21 VE -4.62 14,070,000,000
22 STM -4.61 9,180,000,000
23 MOS -4.59 30,070,000,000
24 RVBD -4.52 5,270,000,000
25 PHG -4.46 24,630,000,000

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