RBC Capital Cuts Price Target on Sprouts Farmers Market (SFM) to $31; Reiterates Outperform

Apple weighs on Wall St; energy shares a boost

By Caroline Valetkevitch

(Reuters) - U.S. stocks dipped on Thursday, pulled lower by Apple after its latest iPhone failed to impress Wall Street, but gains in energy shares limited the decline.

The Nasdaq broke a four-day streak of gains, led by declines in Apple (NASDAQ: AAPL). The stock fell 2.6 percent to $105.52 in its biggest daily percentage decline since June 24, when Britain's vote to leave the European Union unleashed a massive sell-off.

The company also said it would not release first-weekend sales of the new iPhone, limiting analysts' early visibility on the... More

Deutsche Bank Downgrades Sprouts Farmers Market (SFM) to Hold

Deutsche Bank downgraded Sprouts Farmers Market (NASDAQ: SFM) from Buy to Hold with a price target of $20.00 (from $28.00) after the company lowered FY guidance. Analyst Shane Higgins highlighted worsening deflation with no end in sight and the fact that conventional grocers stepped-up promotional intensity. In his view, greater competition and uncertainty equates to a lower multiple.... More

Unusual 11 Mid-Day Movers 9/7: (CGNT) (RTRX) (AGIO) Higher; (SHLO) (ADPT) (HDS) Lower

Cogentix Medical, Inc. (Nasdaq: CGNT) 41.7% HIGHER; announced that it has entered into a securities purchase agreement with Accelmed Growth Partners, L.P. Under the terms of the securities purchase agreement, Accelmed would purchase $25 million of Cogentix Medical common stock from the Company at $1.55 per share, a 29% premium over the closing price of the stock on September 6, 2016 and a premium of 36% over the average closing price over the last 30 days.

Retrophin, Inc. (Nasdaq: RTRX) 33.0% HIGHER; announced positive top-line results... More

Pre-Open Stock Movers 09/07: (RTRX) (AAOI) (FRAN) (CMG) Higher; (SFM) (HDS) (CASY) Lower (more...)

Today's Pre-Open Stock Movers:

Retrophin, Inc. (Nasdaq: RTRX) 25.6% HIGHER; announced positive top-line results from the Phase 2 DUET study of sparsentan for the treatment of focal segmental glomerulosclerosis (FSGS), a rare kidney disorder without an approved pharmacologic treatment that often leads to end-stage renal disease. The study achieved statistical... More

Goldman Sachs Says Sprouts Farmers Market's (SFM) Guidance Could be Sign of 'Steep Change' in Competitive Environment

Sprouts Farmers Market (NASDAQ: SFM) dropped sharply pre-market Wednesday, dragging peers Whole Foods Market (NASDAQ: WFM) and Kroger (NYSE: KR) lower. The three stocks were indicated to open lower by 13%, 3.5% and 3%, respectively.

The malaise followed updated guidance from Sprouts ahead of... More

Whole Foods Market (WFM) , Kroger (KR) Trade Lower in Sympathy with Sprouts Farmers Market (SFM)

Whole Foods Market (NASDAQ: WFM) and Kroger (NYSE: KR) traded lower pre-market in sympathy with Sprouts Farmers Market (NASDAQ: SFM) after it... More

Wall Street ends flat as investors assess U.S. rates outlook

By Caroline Valetkevitch

(Reuters) - U.S. stocks ended little changed on Wednesday, though the Nasdaq eked out another record high close, as investors assessed the outlook for U.S. interest rates.

A disappointing forecast from Sprouts Farmers Market (NASDAQ: SFM) weighed on grocers. Sprouts shares were down 13.7 percent at $19.68, while Whole Foods (NASDAQ: WFM) shares fell 5.3 percent to $29.08 and Kroger (NYSE: KR) shares dropped 4.1 percent to $31.32.

Investors have been weighing the likelihood of a rate hike this month from the... More

Sprouts Farmers Market (SFM) Trims Q3, FY16 Outlook; Approves $250M Stock Buyback Plan

Sprouts Farmers Market, Inc. (Nasdaq: SFM) announced updated guidance in advance of participation in the Goldman Sachs 23rd Annual Global Retailing Conference on September 8, 2016. This update reflects the impact of significant ongoing deflation, the stepped-up promotional environment and our cautious outlook for the remainder of the year. Comparable store sales growth for the third quarter ending October 2, 2016 is now expected to be approximately flat. The prolonged deflationary... More