Kroger Co KR shares are trading higher by $1.70 at $39.81 in Thursday's session. The catalyst for the rally is Q3 beat of $0.04 on slightly lower revenues. Also, the company raised it FY 2015 outlook modestly.
After a higher open, it retreated and found support just above the upper-end of Wednesday's range ($38.34), only reaching $38.36 before resuming its rally.
So far, it has surpassed its former all time high ($39.42), reaching $39.92 and is not far off that level. There may some large institutional sell orders at $40, as such orders are commonly placed at round numbers.
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