Albertsons Companies Inc

Albertsons and Kroger supermarketsBridget Bennett | Bloomberg | Getty Images; Brandon Bell | Getty ImagesThe U.S. Federal Trade Commission said Monday that it is suing to block the merger of Kroger and Albertsons, saying the combination of the two major grocers would result in higher prices for shoppers and lower wages for workers.In a release, the FTC said it issued an administrative complaint and authorized a lawsuit in federal court to stop Kroger's $24.6 billion acquisition of Albertsons, which would create one of the…

About 21% of Target's annual sales come from the food and beverage category, but its grocery aisles have taken on added importance as shoppers buy fewer discretionary items.Melissa Repko | CNBCFor many Americans, a trip to Target brings to mind a shopping cart filled with throw pillows, makeup or a cute outfit.The retailer wants more customers to think of it when checking off the grocery list, too.related investing newsOnly 21% of Target's annual sales came from food and beverage in the most recent fiscal year, according…

CNBC's Jim Cramer said Friday that corporate earnings reports next week will be key in determining the market's performance.Stocks rose Friday after the December jobs report and an economic condition reading signaled that the Federal Reserve is making headway in its fight against inflation. The Dow Jones Industrial Average and S&P 500 recorded their best day since Nov. 30, while the Nasdaq Composite had its best day since Dec. 29."As good as these macro numbers were for the market, they'll become a sideshow when we…

Microsoft 's (MSFT) nearly $69 billion cash offer to buy video game giant Activision Blizzard (ATVI) has been under tremendous scrutiny since it was first announced back in January. But at least one Wall Street research firm says it's highly likely that the deal will be completed in the near future. We tend to agree. While Club holding Microsoft would shell out a big premium for ATVI shares based on current market prices, the tech giant was always prepared to pay up for what Activision Blizzard's popular games such as…

Kroger on Thursday raised its forecast for the year after stronger third-quarter sales topped Wall Street expectations and inflation continued to push up the prices shoppers pay for milk, eggs and other groceries.Kroger CEO Rodney McMullen said the company is attracting shoppers by offering value. In a news release, he said that is "resonating with shoppers and driving increased customer loyalty" with its private label grocery brands, affordable fresh foods, data-driven promotions and fuel rewards program.Here's what…

Albertsons and Kroger supermarketsBridget Bennett | Bloomberg | Getty Images; Brandon Bell | Getty ImagesThe battle over whether grocery giants Kroger and Albertsons should be allowed to combine is heating up.On Tuesday, leaders of the two companies defended their proposed merger at a congressional hearing in Washington, where they faced a series of questions about how the deal could shake up the competitive landscape — and potentially the prices that consumers pay at the store.related investing newsBlack Friday was…

Beyond SteakSource: Beyond MeatBeyond Meat is launching a steak substitute in grocery stores on Monday.The new product will roll out nationwide at more than 5,000 Kroger and Walmart stores, as well as Albertsons, Ahold Delhaize, Jewel-Osco, Sprouts and other local grocers.The announcement concludes a rocky month for the maker of meat alternatives. Beyond ousted Chief Operating Officer Doug Ramsey after he was arrested for allegedly biting another man's nose. The company also announced plans to cut 19% of its workforce, or…

Delta Airlines passenger jets are pictured outside the newly completed 1.3 million-square foot $4 billion Delta Airlines Terminal C at LaGuardia Airport in New York, June 1, 2022.Mike Segar | ReutersCheck out the companies making headlines in midday trading Friday.Albertsons — Shares of the Safeway owner dropped 7% on news that Kroger has agreed to purchase Albertsons in a deal valued at $24.6 billion, or $34.10 a share. Kroger's shares slipped 4.8%.JPMorgan Chase — The bank gained 2.8% after topping estimates for the…

A customer shops for eggs in a Kroger grocery store on August 15, 2022 in Houston, Texas.Brandon Bell | Getty ImagesKroger knows it needs the blessing of investors and federal regulators to pull off its $24.6 billion deal to buy rival grocery company Albertsons.It started making its case Friday, when the companies announced the deal. Kroger said the combination would lower food prices in a time of high inflation, boost profitability and speed up innovation in an otherwise fragmented industry.If approved, the grocers would…

Albertsons and Kroger supermarketsBridget Bennett | Bloomberg | Getty Images; Brandon Bell | Getty ImagesRival grocers Kroger and Albertsons on Friday announced plans to team up.The companies said Kroger agreed to buy Albertsons for $34.10 a share in a deal valued at $24.6 billion. Albertsons shares had closed Thursday at $28.63 after surging on reports that a deal was imminent.Kroger is the second-largest grocer by market share in the United States, behind Walmart, and Albertsons is fourth, after Costco. Together, Kroger…