The company beats analysts' forecasts in first-quarter profit and 2012 projections, with management expecting future dividend growth.
Kraft Foods is upgraded to 'overweight,' and VeriFone is downgraded to 'sell.'
Stocks on Wall Street were lower at midday, threatening to extend the market's slide to a fifth straight session.
Investors are giving the company a second look.
Traditional supermarkets are losing ground as the competition for consumer dollars heats up.
Novo Nordisk is downgraded to 'sell,' and IBM is downgraded to 'neutral.'
The trend is not Safeway's friend and a rescue looks unlikely.
VIDEO ON MSN MONEY
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The stock fell Wednesday with the news that the company missed on both earnings and revenue in its most recent quarter.
The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
The IRS is struggling to combat identify thieves who file fraudulent tax returns in the names of older residents who don't need to file.