BUZZ — Albertsons shares up; co launches business review

(Updates) * Shares of US grocer Albertsons up ~2% at $12.80 in morning trading * ACI reverses premarket losses following its post-earnings call with analysts * Co says it is launching a review of its business aimed at cutting costs, lowering prices and reversing sluggish sales * The grocer needs to move faster to cut costs and reinvest much of those savings to lower prices and improve store experience, executive chair Meg Whitman says on post-earnings call * "Investors may be responding to Meg Whitman’s frank assessment that Albertsons needs to pick up the pace on its turnaround strategy," Zak Stambor, analyst at eMarketer says * ACI expects to "outline a clear turnaround plan and measurable commitments" by its Q4 earnings call * Co withdrew its fiscal 2026 forecasts as it conducts the review * Co beats second-quarter profit and revenue estimates * Up to last close, stock down about 27% YTD (Reporting by Shania S Thomas in Bengaluru) ((shanias.thomas@thomsonreuters.com)