NEW YORK, NY--(Marketwire - Oct 22, 2012) - Markets slumped last week as U.S. jobless claims saw a larger increase than analysts had expected. The IMF has also lowered their forecasts for the global economy to 3.3 percent in 2012, down from their previous estimate of 3.5 percent. The Paragon Report examines investing opportunities in the S&P 500 Index and provides equity research on Safeway Inc. (NYSE: SWY) and Supervalu Inc. (NYSE: SVU).
Access to the full company reports can be found at:
Aggregate profits for companies in the S&P 500 are expected to decline in the third quarter for the first time in three years according to analysts' estimates collected by Bloomberg. The data has showed that earnings per share and sales are expected to drop on average 1.7 percent, and 0.6 percent, respectively.
"Weaker economic data over the past 12-18 months has steadily eroded the growth outlook," said Jonathan Golub, a strategist at UBS. "Unfortunately, this weakness is relatively broad-based. More specifically, earnings are now expected to come in lower than 3Q11 in 5 of 10 sectors, with the greatest contractions in Energy and Materials."
Paragon Report releases regular market updates on the S&P 500 Index so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.
Safeway operates 1,666 stores in the United States and western Canada and had annual sales of $43.6 billion in 2011. The company reported income from continuing operations of $108.0 million for the third quarter of 2012 compared to $130.3 million in the third quarter of 2011.
Supervalu is one of the largest companies in the U.S. grocery channel with annual sales of approximately $35 billion. The company reported a second quarter fiscal 2013 loss of $111 million compared to a profit of 60 million in the year-ago quarter. Supervalu reported on Thursday that they are in active talks regarding the possible sale of the company.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: