Not the most exciting share, but with safeway conversion now complete (and how much better the old safeway stores are now) the shares should start to come back. Already started a nice rise from a recent low. Costs for conversions will still hold the price back but when that is out of the way, should be be nice. 190p

Ramu - i'll be playing this one by ear. Due to costs of the conversion (already shown as a big loss in the interims and obiviously will effect the finals - self financing whats that all about pisces?). It all depends how the market reacts to the news and can they see past it. As we know share prices is all about the future, strip out the conversion costs and we should see a massive improvement in the old safeways stores. I'll be looking for a price between 235-255p.

Kivver are you still holding on to these dogs... can you see any light in these now?

Lots of rumours regarding a takeover (240 - 260p possibly?) and increased volume.
They seem a decent bet, if there's no takeover 180/190p is probably a base and with a 20 to 30% upside.

this is about to take off ,

well they have now gone from 193 when i bought to 221 but is there a bid coming ? yes .

tonker - still a dog?????? i think the rise is due to a company in recovery, why the link with buy-outs??

Morrisons beginning to reach for the skies again - new CEO repot due early March I believe - bought these at 1.59 about a year ago - fantastic unexpected growth - interest currently in property value / equity i believe DYOR.

AM

Maybe a good time short TSCO and MRW.

What will the cost be to TSCO and MRW News services say 400k plus cars affected. Times that by a few hundred pounds each as compensation. That comes to 400k x 200 80m. If it is 500 then the cost is 200m. If there are more cars then it is even more. Lawyers are already suggesting it would be better if people joined a class action suit against these companies.

Any now it is said that petrol will rise by 2p or more next week because of the problems.

Not the most exciting stock, but chart approaching good support level.

Trading Statement.

Trading

In the 6 weeks to 2 January total sales* excluding fuel were up by 3.1% (4.7% including fuel). Like for like sales* grew by 1.0% (4.0% including fuel), building on the industry leading growth reported over the past four years.

Morrisons served an average of 2 million more customers each week over the Christmas period than five years ago, and in that time has grown total sales excluding fuel by 47%.

The Morrisons Christmas offer once again provided our customers with high quality food at outstanding value, supported by a strong service proposition. In store we used our own craft skills to deliver innovative fresh-made products, such as pannetone, baked fresh every day by our own bakers, turkey crowns stuffed with sage and onion by our own butchers and fresh salmon crackers with lemon, created by our own fishmongers.

The combination of high quality food at fantastic prices was seen throughout the store, with our exciting range of deals being supplemented by our Christmas collector card. This once again proved very popular with over 1m customers, who will continue to benefit from the scheme into the New Year.

Morrisons colleagues are at their best when challenged. Once again their professionalism and "can do" approach were evident during the difficult weather conditions, making sure that our stores and forecourts remained open and safe and that our customers were well served throughout the Christmas period. Availability was good right up to closing time on Christmas Eve, ensuring that we did not let our customers down.

just been flagged on the charting thread ..... well spotted .... sp just poking through 200 dma, which if held and improved will augur well ...... hadn't thought to enter this sector (dope!), but i think MRW could indeed be an inspired choice as they really do seem to be getting their act together

I believe it's May & Nov when their results are announced which coincides with the drops on the chart. Presumably the ex-divi date. Div yield is approx 3.5 - 4.0%

Current yield is 2.96%

Forthcoming events

10/03/2011 Preliminary results announcement
05/05/2011 Quarterly management statement
05/05/2011 Final dividend record date
09/06/2011 Annual General Meeting
09/06/2011 Quarterly management statement
15/06/2011 Final dividend payment date
31/07/2011 Half year end
08/09/2011 Interim results announcement
30/09/2011 Interim dividend record date
07/11/2011 Interim dividend payment date

So it is the ex-divi dates which trigger the drop each time.

huge volume today .... normally 7m and already 13m ... perhaps no more than lots of fund-switching if ex-div imminent

cynic possibly switching out of Tesco.

Usual journalist noise doing the rounds maybe:
This article originally appeared on Dow Jones Investment Bank site:
"Share buybacks and special dividends are reasonable options for strongly cash-generative Wm. Morrison Supermarkets, but only a sale of the company would truly maximize shareholder value.

Indeed, for a private equity consortium, possibly including sovereign wealth funds from the Middle East, an LBO of the U.Ks fourth-largest grocer would make an attractive play on U.K. real estate and could offer terrific returns if the cycle delivers. A sale of the business is an option for J Sainsbury, too."

cynic - where are you getting 13m volume?

L2 - IG Index - 13,211,548 .... will phone and check accuracy

===========

yes it is correct ..... it's an amalgam of all the various trading platforms and not just LSE
volume is certainly heavy, but not quite as exceptional as i thought

Broker note from Shore Capital:
"Morrison, the Bradford based supermarket group, has surprised us this morning with the announcement that it has acquired Kiddicare. The food retailing business, that has said to date that it will remain a focused grocer, indeed this perspective was highlighted as a point of difference in recent times by senior management, has decided to diversify into on-line baby products.

Indeed, Morrison bills the acquisition of Kiddicare as the first stage of its e-commerce strategy, on which on balance we take comfort as to a perhaps a rapidly evolving growth strategy for the UK food retailer most dependent upon the low growth grocery channel. As a first stage it also raises questions as to what Dalton Philip's second and third e-commerce stages are likely to be; no doubt we will find out a little more with the preliminary results on the 10th March 2011. For what it is worth we do not see merit or the likelihood of Morrison shelling out 1.4bn+ on Ocado (OCDO^, Sell at 155p) as a mechanism to enter on-line grocery; that would be a) more costly, b) materially earnings dilutive and c) debilitating to group capital returns.

So, an interesting move that sets the mind whirling as to what are Dalton Philips' plans for Morrison. One senses that it is not going to be more of the same, which may provide for some excitement. However, until we are clear as to mix of performance, direction, balance sheet and medium-term valuation, we reiterate our HOLD stance on the shares."