United

Million

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Kroger company stock price closed at $46.94 while witnessing a gain of 3.1% during the last intraday trading session.</a> </li> 
 <li> <span>2</span> <a>KR stock was the best-performing stock in the S&amp;P 500 on September 8 after the release of second-quarter earnings results.&nbsp;</a> </li> 
 <li> <span>3</span> <a>Kroger to pay up to $1.4 Billion to resolve United States’ opioid lawsuits.</a> </li> 
</ul> 
<p>Kroger (KR) stock price surged roughly 3.1% on 8 September 2023 (Friday) after the release of the second quarter’s earnings results. The stock price entered into an uptrend in mid-June, rising from the support level of $44.40 in hopes of closing above $50. KR stock price did cross above $50 but was not successful in closing above it.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="598" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-246-1024x598.png" alt="Kroger (KR) Stock: Rallies After Q2 Results and Opioid Settlement" class="wp-image-166730" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-246-1024x598.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-246-300x175.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-246-768x448.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-246-750x438.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-246-1140x666.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-246.png 1382w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: KR Stock Price By <a href="https://www.tradingview.com/x/1Y7QC67H/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>Kroger (KR) stock price has attempted thrice to break and close above $50 in 2023 and has not been successful. After the rejection, the asset price corrected the bullish move and fell to the recent support of $44.40.</p> 
<h2 class="wp-block-heading" id="strong-kroger-resolves-opioid-lawsuits-reports-second-quarter-results-strong"><strong>Kroger Resolves Opioid Lawsuits, Reports Second Quarter Results</strong></h2> 
<p>On 8th September, the retailer released its second-quarter report. Kroger reported adjusted earnings of $0.96 which surpassed the consensus estimate of $0.92, rising from $0.90 that was reported in the previous year’s quarter.&nbsp;</p> 
<p>Total revenue amounted to $33,853 Million falling short of the consensus estimate of $34,251 Million. The metric has declined from $34,638 Million posted in the prior year quarter.&nbsp;</p> 
<p>KR ended the second quarter with cash of $263 Million, a total debt of $12,791 Billion, and a shareowner’s equity of $10,604 Million. The total debt has declined by $1,792 Million in the last four quarters.</p> 
<p>Kroger has decided to pay as much as $1.4 Billion to resolve thousands of lawsuits by the United States, local government, and Native American tribes claiming that the supermarket chain’s pharmacies fueled the nation’s opioid epidemic.&nbsp;</p> 
<p>The retailer would be paying $1.2 Billion to the United States, counties, and municipalities and $36 Billion to Native American tribes to resolve the majority of cases it faced. Kroger will also pay $177 Million to cover Attroney’s fees and expenses. The $1.2 Billion would be paid out over the period of 11 years.&nbsp;</p> 
<p>As a part of a $25 Billion merger with smaller rival Albertsons, Kroger stated that it will sell 413 grocery stores to C&amp;S wholesale grocers to secure clearance from the United States regulators.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-will-kr-stock-retest-50-strong"><strong>Will KR Stock Retest $50?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="598" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-247-1024x598.png" alt="" class="wp-image-166731" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-247-1024x598.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-247-300x175.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-247-768x448.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-247-750x438.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-247-1140x666.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-247.png 1382w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: KR Stock Price By <a href="https://www.tradingview.com/x/yFcIFO7N/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/08/25/kroger-stock-price-forecast-can-it-fall-up-to-40-on-q2-release/" target="_blank" rel="noopener noreferrer nofollow">stock price</a> has closed above the 20-day exponential moving average, indicating a rise in bullish momentum. The Chaikin money flow score has been trading below the 0 mark since 16 August and currently stands at -0.13, suggesting weakness in the market.&nbsp;</p> 
<p>The relative strength index of KR stock has crossed above the 50 mark and stands at 50.58, suggesting a rise in bullish momentum which supports the current price action.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>The market structure and price action of Kroger (KR) stock are bullish after the release of second-quarter results and news regarding the settlement of opioid lawsuits.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h5> 
<ul> 
 <li>Major support: $44.40 and $42.90&nbsp;</li> 
 <li>Major resistance: $50 and $52&nbsp;</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Kroger (KR) Stock: Rallies After Q2 Results and Opioid Settlement

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 11, 2023

Self-Custody Wallets: The Gateway to Web3?

Platfair: A Revolution in the NFT World Bridging Education, Affiliates, and Innovation

Hyperspace Technologies Secures Patent for Revolutionary Blockchain-driven Multi-Factor Authentic...

Ini Respons ChatGPT Terkait Dogecoin dan Dukungan Elon Musk

Can Meta's Upcoming AI Model Take Down OpenAI?

UAE’s Central Bank Joins Forces with BIS and COP28 to Unleash the COP28 UAE TechSprint

Join our free newsletter for daily crypto updates!