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Stock Market & Financial Investment News

News Breaks
January 25, 2013
13:25 EDTCTRX, CTRX, CTRX, CVS, CVS, CVS, ESRX, ESRX, ESRXLeerink's healthcare services analyst holds an analyst/industry conference call
Healthcare Technology and Distribution Analyst Larsen discusses the perceived differences between Medco and Express Scripts from the perspective of Managed Care on an Analyst/Industry conference call to be held on January 28 at 2 pm.
News For CTRX;CVS;ESRX From The Last 14 Days
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October 1, 2014
10:56 EDTESRXExpress Scripts deal positive, likely got good terms from Walgreen, says UBS
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09:20 EDTESRXOn The Fly: Pre-market Movers
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07:33 EDTESRXExpress Scripts' plan offer preferred pharmacy network featuring Walgreens
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06:44 EDTCTRXCatamaran management to meet with SunTrust
Meeting to be held in San Francisco on October 8 hosted by SunTrust.
September 30, 2014
11:10 EDTCVSWalgreen slightly lower as pharmacy margin pressure continues
Shares of retail drugstore chain Walgreen (WAG) are down slightly after the company noted that it booked a non-cash loss of $866M in the fourth quarter and that it is continuing to endure pharmacy margin pressure. WHAT'S NEW: Walgreen reported Q4 adjusted EPS of 74c, which matched analysts' consensus. The company's Q4 revenue was $19.06B, which was only slightly higher than analysts $19.02B consensus. Customer traffic in Q4 comparable stores decreased 2.2% and basket size increased 3.5%, while total sales in comparable stores increased 5.4%. Walgreen said the quarter was negatively impacted by an $866M, or 90c per share, non-cash loss because it decided to exercise its option to buy the remaining stake in Alliance Boots early. In regards to its partnership with Alliance Boots, Walgreen said that it anticipates synergies of $650M in fiscal year 2015. Walgreen noted that it is moving forward with the implementation of its previously announced cost-reduction initiatives to achieve $1B in savings by the end of fiscal year 2017. The drugstore chain said that it will continue to work through pharmacy margin pressure. WHAT'S NOTABLE: During the company's conference call, Walgreen said that its generic drug inflation will be with the company "for awhile." The drugstore chain noted that inflation was the main headwind to pharmacy margins during the quarter. To combat this, Walgreen said it aims to focus on contracting strategy and will cut pharmacy costs by upping efficiencies. In terms of FY15, Walgreen said its tailwinds included an aging population, growth and chronic donations, new generics and consumerization of healthcare. The company says some headwinds during the quarter included reimbursement pressure, generic drug inflation, Medicare Part D Rate Step Down and the cautious consumer. The company anticipates closing the Alliance Boots partnership in calendar year 2015, as it works towards regulatory approvals and shareholder vote. Walgreen is looking to open an additional 1,000 stores to well-experience formats and foresees FY15 capital expenditures of $1.7B. First quarter interest expense is anticipated to be comparable to Q4 and Q1 tax rate of 30%. The company said that there won't be a material change in free cash flow in 2015. In August, Walgreen forecast fiscal year 2016 EPS of $4.25-$4.60 on revenue of $126B-$130B. At that time, Walgreen said the decision to buy the rest of Alliance Boots would not be an inversion transaction. The company previously said Timothy McLevish would succeed Wade Miquelon as executive vice president and Chief Financial Officer. PRICE ACTION: During morning trading, Walgreen fell 24c or 0.4%, to $59.36. Since its last earnings report, shares of the retail drugstore chain are down around 20%. OTHERS TO WATCH: Peers of Walgreen include Rite Aid (RAD), which is down 0.4% to $4.93, and CVS Health (CVS), which is relatively flat at $80.08.
07:45 EDTCVSJMP Securities to hold a conference
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September 29, 2014
08:04 EDTCTRXCatamaran shares now pricing in aggressive estimates, says Jefferies
Jefferies believes aggressive 2015 consensus earnings expectations are now adequately reflected in shares of Catamaran following the recent pullback. The firm continues to believe M&A will be a driver of shares in the near-term and that an upside-driving deal announcement is imminent. It keeps a Buy rating on Catamaran with a $58 price target.
September 26, 2014
13:53 EDTCVSCVS' Caremark to pay $6M to settle false claims allegations
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06:31 EDTCTRXCatamaran 'mega' deal likely over next few years, says Leerink
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September 25, 2014
10:06 EDTCVSCVS Health management to meet with Leerink
Meeting to be held in Los Angeles on October 1 hosted by Leerink.
08:05 EDTCTRXCatamaran risk/reward compelling after pullback, says FBR Capital
FBR Capital attributes yesterday's weakness in shares of Catamaran to concerns from the consultant community regarding service issues and competition. The firm says its not aware of any "widespread" evidence pointing to performance issues at the company. It views the risk/reward scenario on shares of Catamaran as compelling and maintains an Outperform rating on the name.
September 24, 2014
08:33 EDTCVSCVS Health enters into clinical affilitation with three academic medical centers
CVS Health has entered into new clinical affiliations with three leading academic medical centers. The collaborating medical centers include the University of Maryland Medical System, University of Texas Medical Branch at Galveston, and the University of Alabama at Birmingham Health System. Through these clinical affiliations the patients served by these medical centers will continue to have access to clinical support, medication counseling, chronic disease monitoring and wellness programs at CVS/pharmacy stores and MinuteClinic, the retail medical clinic division of CVS Health.
September 23, 2014
10:33 EDTCVSCVS Health management to meet with Wolfe Research
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07:54 EDTCTRXLeerink to hold a conference
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07:38 EDTCTRXCantor to hold a conference
3rd Annual Technology Conference to be held in Toronto on September 23.
07:38 EDTCTRXCatamaran high EBITDA estimates could create overhang, says Credit Suisse
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September 19, 2014
07:22 EDTCVSNational Press Club holds a luncheon meeting
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September 18, 2014
11:55 EDTCVSRite Aid falls as drugstore chain trims FY15 view
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