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Stock Market & Financial Investment News

News Breaks
February 6, 2013
08:53 EDTESRX, WAG, CVSCVS says on track to deliver significant cost savings from streamlining efforts
Says expects to hit full run rate of annual savings of $225M-$275M beginning in 2014. Says working with CMS to resolve Medicare Part D sanction; says SilverScript members not affected by this action. In 2013, says expects to retain at least 60% of the scripts gained during the Walgreens (WAG)/Express Scripts (ESRX) impasse. Says will continue to take a "measured approach" to international growth plan. Comments made on the Q4 earnings conference call.
News For CVS;WAG;ESRX From The Last 14 Days
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April 13, 2014
16:41 EDTWAGWalgreens investor group urges for re-domiciling tax base to Europe, FT says
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April 11, 2014
09:08 EDTWAGWalgreens has a conference call hosted by JPMorgan
JPMorgan Analyst Gill will host a conference call with CEO Greg Wasson on April 17 at 2 pm.
April 10, 2014
11:28 EDTWAGWalgreens management to meet with BB&T
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11:23 EDTCVS, WAGRite Aid hits 52-week high after results, sales view top estimates
Shares of retail drugstore Rite Aid (RAD) are rallying after the company's fourth quarter results and fiscal 2015 revenue outlook topped analysts' consensus estimates. WHAT'S NEW: This morning, Rite Aid reported fourth quarter adjusted earnings per share of 10c and revenue of $6.6B, compared to expectations of 4c and $6.54B, respectively. Q4 same store sales increased 2.1%. Rite Aid forecast FY15 EPS of 31c-42c, compared to the consensus of 35c. FY15 revenue was seen at $26B-$26.5B, ahead of the consensus $25.75B. FY15 same-store sales are expected by the company to be up 2.5%-4.5%. WHAT'S NOTABLE: Rite Aid also announced it has acquired RediClinic, which currently operates 30 clinics in the greater Houston, Austin and San Antonio areas. Rite Aid CEO John Standley said, “Our recent acquisitions of Health Dialog and RediClinic, our expanded partnership with McKesson and our continued commitment to investing in our store base have positioned us to transition our strategy from turnaround to growth as we more aggressively pursue opportunities to become a growing retail healthcare company.” PRICE ACTION: In late morning trading, Rite Aid rose 71c, or about 11%, to $7.11 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $7.39. Including today's advance, the stock is up approximately 300% over the past twelve months. OTHERS TO WATCH: Other retail drugstore operators include Walgreen Company (WAG) and CVS Caremark (CVS).
April 9, 2014
11:43 EDTESRXGilead defended by analysts after recent pullback
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08:41 EDTESRXAttack on Gilead Sovaldi by Express Scripts 'noise,' says Maxim
After Bloomberg reported that Express Scripts (ESRX) said that it would attempt to build a coalition against the use of Gilead's (GILD) Sovaldi once a rival drug is approved, Maxim views Express Scripts' statement as "noise." The firm says that Sovaldi is not the most expensive HCV drug, and reiterates its view that Sovaldi provides "compelling" value, when including the cost of failure rates in a cost/benefit analysis. Maxim keeps a Buy rating on Gilead.
April 8, 2014
13:24 EDTCVSCVS confirms final SEC settlement, says will not be required to restate earnings
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13:08 EDTCVSCVS Caremark pays $20M to settle SEC accounting charges
The SEC announced that it charged CVS Caremark "with misleading investors about significant financial setbacks and using improper accounting that artificially boosted its financial performance." CVS has agreed to pay $20M to settle the charges, the agency said. Reference Link
April 7, 2014
07:24 EDTCVSCVS Caremark price target raised to $84-$89 from $75-$80 at Wells Fargo
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