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.
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
Interested in more info on SUPERVALU? Add it to your watchlist by clicking here.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool has a disclosure policy.