Market Focus


Oracle wasn’t the only company announcing CEO changes today. Clorox has named Benno Dorer as its new CEO effective in November. Its outgoing chief will become executive chairman. Also JetBlue’s CEO is taking off. The airline’s presidents Robin Hayes will take his place. Shares of Clorox popped after hours. During the regular trading day the stock was up just slightly. JetBlue followed suit also spiking initially after the bell.


Conagra’s profit more than tripled in the company’s first quarter. While its earning were strong, revenue was basically in like with estimates. But the food producer said lower costs and expenses helped offset that. The company also told investors that cost saving programs are having the desired effect. Shares were up about 4.5 percent to $33.48.

Rite Aid

Rite Aid also posted strong results for its second quarter. Earnings surged, beating expectations as pharmacy sales helped drive revenue higher. But its guidance disappointed investors, it lowered its full-year earnings outlook since it expects lower profits from generic drugs. Shares plummeted, down 18.5 percent to $5.41.


An analyst note weighed on shares of Sears in today’s session. A retail expert at Credit Suisse is calling for the struggling department store to liquidate, saying “this is the end,” for the chain. He also says keeping the chain up and running is taking away more than $10 a share in value from shareholders each year. Shares fell more than five percent to $28.


Amazon is refreshing its line of e-Readers. It unveiled seven new devices ranging in price from about $80 to $380. They’ll begin shipping those products next month. Shares rose slightly to $325.


Kroger is upping its dividend by 12 percent to about 18.5 cents a share. The company cited improving consumer confidence. That higher amount will be paid to shareholders in December. The stock was up slightly to $52.49.

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