Safeway Fell the Most in the SP500

Sprint Nextel (S)

Yahoo! (YHOO)

Cisco (CSCO)

Netflix (NFLX)

Apple (AAPL)

Time Warner Inc. Reports Strong Results

Moody’s Reports Earnings

Emerson Near Resistance

Advance Auto Parts Upside Looming?

Above Resistance - Starbucks

Safeway Fell the Most in the SP500

Published on Wednesday, 18 August 2010 16:51 Written by Danny Miller

swy New York, August 18^th (Tradershuddle.com) – Shares of Safeway, Inc. (NYSE:SWY) fell the most in the S&P 500 after its shares dropped 4.52% to $20.47.

Safeway (NYSE:SWY), the s owner and operator of a grocery store chain, fell along other grocery store stocks on concern over competition from Wal-Mart (NYSE:WMT) and Target (NYSE:TGT). The concerns were sparked after BJ’s Wholesale (NYSE:BJ) lowered its guidance for the year citing intense competition pressure from Wal-Mart.

Adding to the downside pressure, Longbow Research cut it’s rating on Safeway to a Sell from Neutral and on Kroger (NYSE:KR) to a Neutral from Buy, after an August survey showed aggressive discounting threatening margins despite increased customer traffic.

The drop came with high volume; sellers pushed the stock lower, with 10 million shares traded, almost 1.58 times Safeway’s average 90day volume of 6.3 million shares.

The stock's 52-week low is $18.50 and its 52-week high is $27.04.

JIM CRAMER wants to work for YOU. JIM does the research -- YOU get email alerts each time he trades. JIM provides access to his actual portfolio -- YOU can use it to guide your portfolio strategy. Try Jim's Action Alerts PLUS for FREE!