Diamonds and Dogs
11/18/13
Supervalu Inc. (SVU)Supervalu is looking stale today, down 8.87% at $6.27. The food wholesaler saw its shares fall after a downgrade from Goldman Sachs. Analysts at the investment bank now rate Supervalu at "sell" and lowered its price target to $6. Goldman Sachs cited food stamp cuts and increased competition as reasons for the downgrade. Along with a lower price target, Goldman reduced its full year estimates for the company to account for second quarter earnings. Shares of Supervalu fell around $0.60 today but are still well above their 52-week low of $2.27.
JinkoSolar Holding Co. Ltd. (JKS)
JinkoSolar is shining today, up 12.86% at $33.29. The Chinese solar panel company saw its shares take off after beating expectations on earnings. JinkoSolar reported a profit of $0.72 per share, demolishing a year-earlier loss and beating analysts' estimates by $0.27. Sales jumped an astonishing 48% to $320.7 million, again crushing estimates by around $18 million. CEO Kangping Chen said, "We have picked up considerable momentum from the strategic investments we made during the downturn." Shares of JinkoSolar hit a new 52-week high of $34.88 intraday.
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