Market Currents

• Tuesday, October 20, 2009

• 17:06 PM A year after many investors fled to the safety of grocers, some of those investments - including Great Atlantic & Pacific Tea Co. (GAP -0.3%) and Supervalu (SVU -1.6%) - are smelling a little ripe. Maybe the food play is played out. Comment!
• 11:36 AM After a brutal earnings report, Greater Atlantic & Pacific Tea Co. (GAP -13.5%) - parent of the A&P supermarket chain, among many others - says its CEO Eric Claus has resigned. Chairman and former CEO Christian Haub will occupy the position on an interim basis. Comment!
• 09:08 AM Great Atlantic & Pacific Tea Company (GAP): FQ2 EPS of -$1.18 misses by $0.47. Revenue of $2.06B (-5.4%) vs. $2.13B. "The current challenging economy continues to impact our business. The macro headwinds including rising unemployment, intensifying price competition and now also deflation are creating an even more difficult short-term economic environment." Shares -9.7% premarket. (PR) Comment!
• 00:05 AM Notable pre-market earnings: ALV, BK, BIIB, BLK, BTU, CAT, CMA, COH, DGX, DRH, DD, EAT, FRX, GAP, ITW, JEF, JRN, KO, LXK, LMT, MTB, PCP, PH, PFE, RF, SHW, STT, SVU, UAUA, UNH, UTX, WU Comment!

• Tuesday, October 13, 2009

• 09:49 AM "The Food Retail group's value trap designation has been well earned," Pali Research writes this morning, dropping shares of Great Atlantic & Pacific Tea (GAP -7.7%) and SuperValu (SVU -3.6%) to Sell. Investing in grocery stocks based on inflation expectations "represents 'greater fool' investing at its best," firm says. 1 Comment

• Tuesday, October 14, 2008

• 04:05 AM Notable earnings before Tuesday's open: ADTN, GAP, JNJ, PEP, SVU Comment!

• Friday, July 18, 2008

• 06:27 AM Great Atlantic & Pacific Tea Company (GAP): FQ1 EPS of -$0.48 misses by $0.07. Revenue of $2.92B (+74.1%) in-line. [PR] Comment!