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Kroger Falls On Inline Q2

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Kroger Co (NYSE: KR) shares are trading lower by $1.46 or 6 percent at $21.31 in Friday's session.

The stock is deep in the red after a Q2 earnings that met expectations of 39 cents per share, along with a slight sales beat. The company forecasts FY 2017 EPS to be above the current estimate of $1.98 in the $2.00-$2.08 range. However, the company stated the forecast didn't include any effect from the recent hurricanes.

After a lower open, Kroger had a brief rally to $21.79 before continuing its move lower. The ensuing decline has taken the stock to $21.16. That low coincides with a trio of lows in the lower $21.00 handle from late August.

The low for its recent slide was made on June 16, when it bottomed at $20.46. It should be noted that was the same day Amazon announced its takeover of Whole Foods.

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