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Stock Market & Financial Investment News

News Breaks
April 10, 2014
11:23 EDTWAG, RAD, CVSRite 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).
News For RAD;WAG;CVS From The Last 14 Days
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December 16, 2014
08:00 EDTCVSCVS Health sees FY15 retail SSS down 0.5% to up 0.75%
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07:58 EDTCVSCVS Health sees FY15 revenue up 7%-8.25%, consensus $146.09B
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07:55 EDTCVSCVS Health backs FY14 adjusted EPS view $4.47-$4.50, consensus $4.50
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07:36 EDTCVSCVS Health sees FY15 free cash flow $5.9B-$6.2B
CVS Health expects to generate free cash flow of $5.9B-$6.2B in 2015, and cash from operations of $7.6B-$7.9B in 2015. This guidance assumes the completion of $6B in share repurchases during 2015. "We've established a solid track record of delivering on our promises, and our results prove that out. Looking ahead, we are targeting solid, long-term enterprise growth and expect to generate a significant amount of cash that will be available to enhance returns. Some of that cash will be used to invest in the business, such as through strategic, bolt-on acquisitions that drive continued share gains. The rest will be returned to our shareholders through dividends and value-enhancing share repurchases," said CFO Dave Denton.
07:35 EDTCVSCVS Health adds $10B to share repurchase plan, boosts dividend 27%
CVS Health announced that its board of directors approved a 27% increase in its quarterly cash dividend, to 35c per share on the common stock of the company. This increase translates to $1.40 per share annually, up 30c per share, and keeps the company solidly on track to meet its 2018 dividend payout ratio target of 35%. The quarterly dividend is payable on February 2 to holders of record on January 22. In addition, the company announced that its board of directors approved a new share repurchase program for up to $10B of the company's outstanding common stock, which is effective immediately and is expected to be completed over a multi-year period, permits the company to effect the repurchases from time to time through a combination of open market repurchases, privately negotiated transactions, accelerated share repurchase transactions, and/or other derivative transactions. Combined with approximately $2.7B that remains on the share repurchase program approved by the board of directors in December of 2013, this new $10B share repurchase authorization makes available a total of approximately $12.7B for share repurchases.
07:33 EDTCVSCVS Health sees FY15 adjusted EPS $5.05-$5.19, consensus $5.11
07:32 EDTCVSCVS Health announces $10B share repurchase plan, boosts dividend 27%
06:28 EDTRADRite Aid upgraded to Buy from Neutral at UBS
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December 15, 2014
12:26 EDTCVSCVS Health volatility increases into analyst day
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December 11, 2014
08:28 EDTWAGWalgreen CEO retirement a positive, says Citigroup
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07:28 EDTWAGCBI to hold a summit
2nd Specialty Data Optimization Summit is being held in Philadelphia on December 11.
05:53 EDTCVSCVS Health to host analyst day
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December 10, 2014
18:31 EDTWAGOn The Fly: After Hours Movers
UP AFTER EARNINGS: Restoration Hardware (RH), up 5.9%... Casey's General Stores (CASY), up 1.6%. ALSO HIGHER: Walgreen (WAG), up 1.7% after CEO Greg Wasson announces intention to retire after Alliance merger. DOWN AFTER EARNINGS: Wet Seal (WTSL), down 38.9%... Lakeland Industries (LAKE), down 8.2%... Men's Wearhouse (MW), down fractionally. ALSO LOWER: Burlington Stores (BURL), down 1.4% after filing to sell 8M shares of common stock for holders... Nielsen (NLSN), down 1.9% after filing to sell 20M shares of common stock for holders.
16:19 EDTWAGWalgreen CEO Greg Wasson announces retirement after Alliance merger
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10:00 EDTWAG, CVSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with an Underperform at Longbow... AutoZone (AZO) initiated with a Buy at Nomura... C.H. Robinson (CHRW) initiated with a Neutral at Nomura... CSX (CSX) initiated with a Buy at Nomura... CVS Health (CVS) initiated with a Neutral at Citigroup... Canadian National (CNI) initiated with a Neutral at Nomura... Carrizo Oil & Gas (CRZO) initiated with a Buy at Canaccord... CenterPoint Energy (CNP) initiated with a Neutral at Nomura... Con-way (CNW) initiated with a Neutral at Nomura... Cornerstone OnDemand (CSOD) initiated with a Buy at BofA/Merrill... Depomed (DEPO) initiated with an Outperform at RBC Capital... Dollar General (DG) initiated with a Buy at Citigroup... Dollar Tree (DLTR) initiated with a Neutral at Citigroup... Dynagas LNG (DLNG) initiated with a Buy at ABN Amro... EMC (EMC) initiated with a Neutral at JPMorgan... Energy Focus (EFOI) initiated with a Buy at Roth Capital... Expeditors (EXPD) initiated with a Neutral at Nomura... GasLog (GLOG) initiated with a Buy at ABN Amro... Genesee & Wyoming (GWR) initiated with a Neutral at Nomura... Golar LNG (GLNG) initiated with a Sell at ABN Amro... HII Technologies (HIIT) initiated with a Buy at Roth Capital... Hudbay Minerals (HBM) initiated with an Overweight at Barclays... J.B. Hunt (JBHT) initiated with a Buy at Nomura... Kansas City Southern (KSU) initiated with a Buy at Nomura... Kroger (KR) initiated with a Buy at Citigroup... Lear (LEA) initiated with a Buy at Northcoast... Lundin Mining (LUNMF) initiated with an Overweight at Barclays... NetApp (NTAP) initiated with a Neutral at JPMorgan... Norfolk Southern (NSC) initiated with a Neutral at Nomura... PROS (PRO) initiated with an Outperform at Pacific Crest... Qlik Technologies (QLIK)initiated with a Buy at BofA/Merrill... Rentokil (RTOKY) initiated with a Neutral at UBS... Revolution Lighting (RVLT) initiated with a Buy at Roth Capital... ServiceNow (NOW) initiated with a Buy at BofA/Merrill... Stratasys (SSYS) initiated with a Neutral at Longbow... Suburban Propane (SPH) initiated with a Hold at Stifel... Tableau (DATA) initiated with a Buy at BofA/Merrill... Teekay LNG (TGP) initiated with a Buy at ABN Amro... Tessera (TSRA) initiated with a Buy at Sidoti... Union Pacific (UNP) initiated with a Buy at Nomura... Viper Energy (VNOM) initiated with a Buy at Stifel... Visteon (VC) initiated with a Buy at Northcoast... Walgreen (WAG) initiated with a Buy at Citigroup... Werner (WERN) initiated with a Neutral at Nomura.
06:18 EDTWAGWalgreen initiated with a Buy at Citigroup
Target $80.
06:14 EDTCVSCVS Health initiated with a Neutral at Citigroup
Citigroup started shares of CVS Health with a Neutral rating and $99 price target saying much of the company's growth is priced into shares at current levels.
December 9, 2014
10:23 EDTWAGOn The Fly: Analyst Downgrade Summary
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06:11 EDTWAGWalgreen downgraded to Neutral from Buy at Mizuho
Mizuho downgraded Walgreen to Neutral based on limited EPS upside, sub-par base business organic growth, execution risk with Alliance Boots due to management turnover, international and currency risk, and valuation. Price target is $72.
December 8, 2014
11:30 EDTCVS, WAGLeerink generics pharmaceutical analyst holds analyst/industry conference call
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