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12.09.2019 18:08:00

Stock Market News: Kroger, Walmart Fight to Win the Grocery Wars

The stock market continued this week's impressive rally on Thursday morning with modest gains. Investors were once again pleased by the conciliatory tone struck by the Trump administration in its comments about the trade war, which spurred hopes that the long dispute between the U.S. and China might finally enter a stage of constructive dialogue that could lead to longer-term solutions. As of noon EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 116 points to 27,253. The S&P 500 (SNPINDEX: ^GSPC) rose 14 points to 3,015, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 47 points to 8,216.There was also a lot of news coming out of the grocery industry on Thursday morning. Kroger (NYSE: KR) released its latest earnings report and left investors with mixed opinions about where it'll go from here. Meanwhile, Walmart (NYSE: WMT) revealed an innovation that promises to help it compete more effectively against not just Kroger -- the country's largest supermarket chain -- but also the many other players battling for supremacy in the grocery retail arena.Shares of Kroger  dropped 3% after the grocery store giant reported its second-quarter financial results. Revenue inched higher by 0.5%, driven in large part by a 2.2% rise in same-store sales (excluding the impact of fuel sales). Adjusted net income increased 6% from year-ago levels.Continue reading
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Kroger 23.81 0.00% Kroger
Walmart 107.68 0.23% Walmart
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