Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: SUPERVALU
So what: Earnings excluding nonrecurring items were $0.28 per share, just below Wall Street's $0.29 expectation, and revenue lagged expectations as well. But the real news today was incredibly disappointing guidance. SUPERVALU lowered earnings guidance for fiscal 2011 to $1.40 to $1.60 per share, down from a previous guidance of $1.75 to $1.95 per share in July.
Now what: This Fool is usually skeptical of market panics on guidance, but SUPERVALU's lowering guidance just three months after original guidance has me worried about this stock. SUPERVALU's stock has lagged competitors like Kroger
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