Kroger donates $50,000 lottery commission to Michigan food banks

After selling the record-setting Mega Millions ticket in January, Kroger announced Tuesday it will be donating the $50,000 ticket commission to the Food Bank Council of Michigan. 

While the lucky winner of the $1.05 billion jackpot has yet to step forward and claim their prize, Kroger has decided to spread its luck to Michiganders in need. As part of its Zero Hunger Zero Waste program, which aims to end hunger by donating 3 billion meals by 2025, the grocery chain will aid local food banks with the commission. 

More:Report: Michigan’s food insecurity problem only got worse during COVID-19 pandemic

“I applaud Kroger for their generous donation and continued commitment to feeding those in the communities they serve,” Gov. Gretchen Whitmer said in the release announcing the donation. “During these tough times, it has been incredible to see the ways in which our communities can come together to ensure that

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Asbury Automotive Group Announces Fourth Quarter Financial Results

Record fourth quarter EPS of $4.59 per diluted share, up 103% over prior year quarter

Record full year EPS of $13.18, up 38% over prior year

Fourth quarter revenue increased 18% and gross profit increased 23% over prior year quarter

DULUTH, Ga., Feb. 2, 2021 /PRNewswire/ — Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., reported net income for the fourth quarter 2020 of $89.1 million ($4.59 per diluted share). This compares to net income of $43.6 million ($2.26 per diluted share) in the prior year quarter, a 104% increase.

Asbury Automotive Group (PRNewsfoto/Asbury Automotive Group, Inc.)
Asbury Automotive Group (PRNewsfoto/Asbury Automotive Group, Inc.)

The financial measures discussed below include both GAAP and adjusted (non-GAAP) financial measures. Please see reconciliations for our non-GAAP metrics included in the accompanying financial tables.

“The fourth quarter of 2020 was a pivotal period for us where we

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Wall Street recovers some of last week’s drop, silver climbs

Damian J. Troise and Alex Veiga

Stocks notched broad gains on Wall Street Monday, clawing back some of their losses following the market’s worst weekly loss since October.

The S&P 500 rose 1.6%. The benchmark index was coming off a 3.3% slide last week, when volatility spiked as online traders hoping to inflict damage on hedge funds fueled a frenzy in GameStop and a few other stocks.

Investors large and small continued to focus those stocks Monday, and GameStop slumped 30.8% to $225 a share, the latest rocky ride for the stock, which ended last year at about $18.

Meanwhile, the price of silver  jumped at one point to its highest level in eight years. Analysts said the precious metal became another target for online investors seeking to go up against big Wall Street players.

A fight is raging in the stock market:Should you worry about your 401(k)?


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Hit by pandemic, oil giants Exxon, BP post huge 2020 losses

DALLAS (AP) — Oil giants Exxon and BP reported staggering losses for 2020 on Tuesday as the pandemic crushed energy demand and undercut oil prices.

Exxon Mobil Corp. reported the largest losses in its history — nearly $20.1 billion for the fourth quarter, including more than $19 billion to write down the value of company assets. For the full year, it lost $22.4 billion.

BP PLC posted a profit of $825 million in the fourth quarter but still lost $18.1 billion in 2020. The results came after Chevron reported last week that it lost $5.5 billion last year.

Signs point to better results for the oil giants this year. Crude prices are up roughly 50% in the past three months, including a gain of more than 10% since Jan. 1, as major producers led by Saudi Arabia have cut output.

The oil companies are hoping that the rollout of COVID-19

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