Supermarket blues: Amazon’s purchase of Whole Foods sparked a broad grocery selloff Friday, including a 9 percent decline in Kroger’s shares, which closed at $22.29. Earlier in the week, Kroger shares had slumped 14 percent on weak earnings.
Soft sales: Shares of Cheesecake Factory dropped 10 percent to $52.58 Tuesday after the restaurant chain said sales at established restaurants have fallen 1 percent in the current quarter. Analysts were expecting growth of 1.7 percent. The stock closed Friday at $52.97.
Wooed: Alexion Pharmaceuticals rose 9.3 percent to $118 Wednesday after it said Paul Clancy, chief financial officer at rival Biogen, will become Alexion’s CFO. Biogen shares fell 3.1 percent to $253.37 on the news, closing the week at $251.74. Alexion shares closed Friday at $113.95.
CEO bounce: GE shares rose 3.9 percent to $29.03 Monday after it said longtime CEO Jeff Immelt will be replaced in August by John Flannery, the head of GE’s health care division. Immelt will remain chairman until year’s end. Shares closed the week at $29.
Squeezed: Information technology company Science Applications International Corp. slumped 8.5 percent to $74.52 Tuesday after its sales fell short of projections and higher costs gnawed at profits. Shares closed the week at $70.99.
BamBoozled: Defense contractor Booz Allen Hamilton tumbled 19 percent to $31.90 Friday after it revealed it is the target of a government investigation. It said the Justice Department is looking into the way it charges the U.S. government.
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