Kroger Co KR shares are trading higher by $1.70 at $39.81 in Thursday's session. The catalyst for the rally is Q3 beat of $0.04 on slightly lower revenues. Also, the company raised it FY 2015 outlook modestly.
After a higher open, it retreated and found support just above the upper-end of Wednesday's range ($38.34), only reaching $38.36 before resuming its rally.
So far, it has surpassed its former all time high ($39.42), reaching $39.92 and is not far off that level. There may some large institutional sell orders at $40, as such orders are commonly placed at round numbers.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.