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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

PRE-MARKET MOVERS: Kroger shares on the up as it launches new delivery service but traders lose appetite for Cheesecake Factory

Kroger shares added 0.93% to US$29.27 before the bell

As US investors gear up for a mixed start and more earnings, several stocks are in focus in pre-market.

One is the US's biggest supermarket chain Kroger (NYSE:KR), which saw shares add 0.93% to US$29.27 before the bell.

It comes amid a flurry of news from the big-name group, including that it has launched Ship, a direct to consumer e-commerce platform and has bought its first retail centre in Florida.

The new delivery service will offer 4,500 products from the 'Our Brands' line and over 50,000 other grocery and household items.

Kroger launches 'Kroger Ship' delivery service in four cities https://t.co/89w7YeKlkv

— CNBC (@CNBC) 1 August 2018

The firm is also threatening to ban the use of Visa cards in a dispute over so-called 'swipe' fees and a health alert has been issued over pre-made salads and wraps sold at stores including Trader Joe's.

Also in pre-market, telecoms firm Sprint Corp (NYSE:S) saw shares jump 1.29% to US$5.50 after its first quarter results, which beat analyst estimates.

EPS (earnings per share) for the three months was US$0.04, which beat the analyst estimate of US$0.00.

Revenue for the quarter came in at US$8.13bn versus the consensus estimate of US$8.02bn.

Elsewhere, Cheesecake Factory Inc (NASDAQ:CAKE) saw shares lose almost 9% to US$51 in extended deals after the restaurant chain's earnings missed Wall Street consensus.

The company reported second-quarter net income of US$0.61 cents a share versus US$0.78 cents a share in the same period a year ago. Analysts had estimated US$0.81 a share on revenue of US$592.7mln.

Humana Inc (NYSE:HUM) shares are flat in pre-market as the Kentucky-based health insurer beat earnings expectations and raised its outlook.

The firm upped its adjusted EPS (earnings per share) guidance for 2018 to US$14.15 from a previous range of between US$13.70 and US$14.10.

Meanwhile, the revenue outlook was nudged up to between US$55.9bn and US$56.5bn from between US$55.8bn and US$56.4bn.

Also in the news today, southeast Asia ride-hailing company Grab and Uber partner is set to reveal reportedly that it has secured new investment of US$1bn

The cash will help it grow its payments business, according to a source.

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