SUPERVALU INC. (NYSE:SVU): Says price investments will first be seen in basket size as existing customers respond to lower shelf pricing and broaden their shopping. Over time, sees incremental traffic as secondary shoppers return to stores to shop with more frequency. The shares closed at $6.13, up $0.81, or 15.23%. They have traded in a 52-week range of $5.07 to $11.77.
Penn Virginia Resource Partners L P (NYSE:PVR): On April 5, management of Penn Virginia Resource GP, the general partner of Penn Virginia Resource Partners, L.P. concluded that the Partnership will recognize an impairment of its natural gas gathering assets, which are located in the southern portion of the Fort Worth Basin of North Texas. The impairment was triggered by continuing market declines of natural gas prices and lack of drilling in the area. As a result of this determination, management of the Partnership expects to recognize an impairment charge of approximately $115M-$130M for the three months ended March 31. Currently, the North Texas gathering system represents less than 1% of the Partnership’s consolidated net revenues and gross margin. The Partnership does not expect to incur any significant cash expenditures in the next several years with respect to the foregoing natural gas gathering assets as a result of the impairment. The shares closed at $24.95, up $2.59, or 11.58%. They have traded in a 52-week range of $20.85 to $28.31.
Renren Inc (NYSE:RENN): Japan’s SoapDish food photo app just entered a partnership with the Chinese social network. The partnership will allow Renren.com users to share food photos directly through an iOS app. The shares closed at $5.79, up $0.25, or 4.51%. They have traded in a 52-week range of $3.21 to $24.00.
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