KeyCorp(NYSE:KEY) shares rose by 37 cents or 4.40%
at $8.78 after the company reported a rise in third quarter net income beating
the analyst’s expectations.
Bank’s net income attributable to common
shareholders for the last quarter was up by a cent at 23 cents per share or
$214 million in comparison to last year.
Even the total revenue increased by 2% at $1.12
billion compared to last year for the same period.
Net interest income, a measure of the bank's ability
to profit from lending, rose 4 percent, to $578 million from $555 million.
A rise of 13% in noninterest income was accounted,
at $544 million in comparison to last year.
FacSet analyst expects earnings of 21 cents per
share on revenue of $1.03 billion.
Stocks of SUPERVALU INC.(NYSE:SVU) were up by 10
cents or 4.90% at $2.14 following the news of company having active discussions
with some parties regarding its strategic alternatives.
The struggle in business has been showing with
company closing 60 underperforming stores last month, in the month of June the
company suspended its dividend and said of reviewing its options with financial
advisers which indicates towards possibility of selling the company and in the
month of July CEO Craig Herkert has been fired by the company. The new CEO is
Wayne Sales.
Thursday, Sales said that the company has adjusted
price at its Jewel-Osco stores, a strategic plan to increase traffic.
Anticipating $900 million to $950 million in cash flow from operations in 2013,
the company will utilize the generated revenue to reduce debt and freshen up
its stores.
For the last period the company posted a loss of
$111 million, or 52 cents per share.
FactSet analyst expects earnings of 12 cents per
share.
Wall Street forecast revenue of $8 billion.
On Thursday, Leon Bergmann is leaving and Janel
Haugarth will continue as the president of independent business.
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