Regional Retailer Kroger Makes Good

Markets were up across the board despite a low trading volume today. The short week was capped off with moderate gains, and ended in the black. The Dow led the day in real gains, rising 0.63%, or 102.69 points, to close out trading at 16,433.09. The S&P 500 gained 8.76 points and closed out the trading day at 1,961.05. The NASDAQ was up as well, posting a gain of 26.09 points to close at 4,822.34.

In overseas trading, markets tended to be flat or to fall slightly. Japan’s Nikkei was down 0.19%, and so was the Hang Seng in Hong Kong. London’s FTSE fell 37.81 points, and Germany’s DAX led the day in real losses with 0.85%.
Part of the reason for Germany’s decline is a mounting immigrant crisis that’s taking place on the Austrian border.

Kroger Co (KR) Beats Earnings and Raises Guidance

Regional grocery store chain Kroger (KR) has been performing well for a few quarters in a row now. This latest earnings report saw the store beat expectations, and raise guidance because of it. Kroger exceeded earnings expectations by 4 cents per share, and is expected to exceed its yearly earnings by nearly as much. In trading today, Kroger jumped another 5.34%, bringing its weekly rise over 9%. Shares of Kroger ended trading at $37.29.

Energy Companies Continue to Fall Despite a Bump in Oil Prices

The latest rise in crude oil prices isn’t enough to keep energy companies trading in the black, it looks like. Although crude oil has risen from lows under $40 per barrel back up into early summer’s trading level of $45, companies in the energy sector continue to see share prices fall.

In trading today, all of the major losers in the S&P were energy stocks. In fact, the Energy Minerals sector as a whole has led the markets in real losses over the trailing 3 months. Energy Minerals has contracted by over 17% since the beginning of summer, falling over 7% more than the closest competing sector.

Stock that were hit hardest in the energy sector today were CONSOL Energy (CNX) and Murphy Oil Corp (MUR). They each declined by 5% over the course of trading. CONSOL closed at $12.53 per share, down from a lifetime high of over $100 per share. Murphy closed the day at $26.78, down 6.50% this week.
Published on Sep 11, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2020. Content published with author's permission.

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