by Alyssa Oursler | July 10, 2013 8:18 am
Kroger (KR), which already was the nation’s largest grocery store chain, announced that it is buying smaller, higher-end rival Harris Teeter (HTSI) for $2.5 billion in cash — a move welcomed by InvestorPlace feature writer Dan Burrows. As he put it, “By buying Harris Teeter — which had $4.5 billion in revenue last year — Kroger adds 212 higher-end (read: higher-margin) stores to its already impressive base.”
Big-name enterprise tech operators continue to struggle. This week, Goldman Sachs downgraded shares of IBM (IBM) in anticipation of a slowdown in the company’s generally high-growth emerging markets. IBM reports earnings on July 17.
More bad tech news: Apple (AAPL) announced that it is reducing iPhone production for the second half of the year by 20%. The stock has been struggling — as you likely know — but many think it may finally be bottoming.
Barnes & Noble (BKS) CEO William Lynch resigned after three years on the job in the face of the Nook e-reader’s failure. InvestorPlace editor Jeff Reeves’ take: the bookseller is doomed.
While Alcoa (AA) kicked off Q2 earnings season Monday, all eyes will be on banks as the week comes to a close. Wells Fargo (WFC) and JPMorgan (JPM) both will release earnings this Friday.
Sirius XM Radio (SIRI) gained more than 3% yesterday after announcing it now has more than 25 million subscribers. The satellite radio provider, which also raised its full-year outlook, has been helped by strong auto sales.
Check out past “6 Stocks in 60 Seconds” clips here.
For more videos, like us on Facebook or follow us on Twitter. As of this writing, Alyssa Oursler did not hold a position in any of the aforementioned securities. Follow her on Twitter: @alyssaoursler.
Source URL: http://investorplace.com/2013/07/kroger-goes-shopping-6-stocks-in-60-seconds/
Short URL: http://invstplc.com/1nvVu89
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.