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Stock Market & Financial Investment News

News Breaks
March 25, 2014
14:23 EDTWAG, RAD, CVSWalgreens climbs after reporting same-store sales gain, store closure plans
Shares of drug store owner Walgreens (WAG) are advancing despite the company reporting lower than expected profits as its revenue came in close to expectations and said its Alliance Boots synergies are tracking ahead of expectations. WHAT'S NEW: Walgreens reported earnings per share, excluding some items, of 91c for the second quarter of fiscal 2014, compared with analysts' consensus estimate of 93c. The retailer's Q2 revenue was $19.6B, in-line with the consensus estimate. Walgreens' same-store sales rose 4.3% last quarter. Moreover the company predicted that its fiscal 2016 revenue, including a contribution from Alliance Boots, would be over $130B. Walgreens has a 45% stake in Alliance Boots and has an option to acquire the rest of the European retailer in 2015. "Our second quarter performance, in spite of expected headwinds from slower generic drug introductions, comparisons with last year’s flu season and severe weather, was marked by solid top-line growth driven by record quarterly sales and record second-quarter prescriptions filled,” said Walgreens CEO Greg Wasson in a statement. “We also continued to gain prescription market share while we maintained a firm hold on our costs," Wasson added. Walgreens also announced that as part of its efforts to optimize the company’s asset base, it plans to close 76 drugstores during the second half of this fiscal year. Including these store closures, Walgreens still expects a net increase in its store count in fiscal 2014 of approximately 55-75 locations. PRICE ACTION: In mid-afternoon trading, Walgreens rose $1.75, or 2.72%, to $66.06. Other major U.S. drug store chains also climbed, with Rite Aid (RAD) adding 2.4% and CVS (CVS) gaining 0.6%.
News For WAG;CVS;RAD From The Last 14 Days
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May 21, 2015
19:15 EDTCVSCVS Health should profit from Omnicare acquisition, Barron's says
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16:24 EDTCVSOn The Fly: Top stock stories for Thursday
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12:49 EDTCVSOn The Fly: Top stock stories at midday
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12:28 EDTCVSGabelli says he likes CVS Health, Walgreens Boots Alliance
Mario Gabelli is speaking on CNBC.
09:28 EDTCVSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Quality Systems (QSII), up 9.5%... Trina Solar (TSL), up 7.1%... Best Buy (BBY), up 7.5%... Kirkland's (KIRK), up 4.3% after reporting quarterly results, guidance, and announcing a $1.50 per share special dividend... Williams-Sonoma (WSM), up 3.8%... salesforce.com (CRM), up 4.8%... Youku Tudou (YOKU), up 1.2%. ALSO HIGHER: CTPartners (CTP), up 30.7% after agreeing to exclusive negotiations to be acquired by DHR International... Omnicare (OCR), up 1.3% after CVS Health (CVS) agrees to acquire the company for $98.00 per share, CVS Health is up 1%... Telenav (TNAV), up 3.3% after being initiated with an Outperform at Northland. DOWN AFTER EARNINGS: NetApp (NTAP), down 11.7%... Rexnord (RXN), down 9.9%... Dollar Tree (DLTR), down 2%. ALSO LOWER: Wave Systems (WAVX), down 22.9% after 7.3M share Spot Secondary priced at 65c... Lumber Liquidators (LL), down 16.5% after CEO resigns... Dicerna Pharmaceuticals (DRNA), down 5.8% after 2.75M share Secondary priced at $17.75.
09:03 EDTCVSOptions expected to be active
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08:54 EDTCVSCVS expects Omnicare deal to have significant synergies, operating efficiencies
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07:48 EDTCVSCVS Health to hold a conference call
Conference call to discuss definitive agreement to acquire Omnicare will be held on May 21 at 8:30 am. Webcast Link
07:21 EDTCVSOmnicare elevated into CVS Health acquiring for $98 per share
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07:06 EDTCVSCVS Health agree to acquire Omnicare for $98 per share
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07:04 EDTCVSCVS Health agree to acquire Omnicare for $98 per share
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May 20, 2015
18:19 EDTCVSOmnicare up about 5% from close after talks of being acquired by CVS Health
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18:10 EDTCVSCVS Health in late stage talks to acquire Omnicare, Bloomberg says
CVS Health (CVS) is in advanced talks to buy Omnicare (OCR), Bloomberg reports, citing people with knowledge of the matter. A deal could be reached as soon as this week, the sources added. Reference Link
18:00 EDTCVSCVS Health reportedly in advanced talks to acquire Omnicare, Bloomberg says
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07:21 EDTCVSUBS to hold a conference
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May 19, 2015
07:17 EDTCVSCVS Health has a conference call hosted by JPMorgan
JPMorgan Analyst Gill will host a conference call with CEO Larry Merlo on May 21 at 11 am.
05:50 EDTRADStocks with implied volatility movement; RAD LL
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May 18, 2015
12:13 EDTRADRite Aid management to meet with Guggenheim
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May 13, 2015
11:47 EDTCVSCVS Health says to pay $22M in settlement with DEA, USAO
CVS Health said in a regulatory filing that it has entered into an agreement with the U.S. Attorney’s Office for the Middle District of Florida and the U.S. Drug Enforcement Administration to resolve previously-disclosed allegations relating to the dispensing of certain controlled substances in Florida. CVS Health agreed to pay $22M and the settlement resolves all civil matters between the Company and the DEA in the state of Florida. This payment amount has been fully accrued for in prior fiscal periods.
May 11, 2015
07:40 EDTCVSFocus on Vertex will shift to pricing after Orkambi FDA meeting, WSJ says
An FDA advisory committee that meets Tuesday to decide whether to recommend approval of Vertex’s Orkambi will be closely watched by health insurers and pharmacy-benefit managers concerned that the experimental cystic-fibrosis drug will be high-priced, said The Wall Street Journal. Vertex hasn’t announced a price, but analyst at JPMorgan predict the drug will have a wholesale price of about $287,000 annually per patient. Publicly traded PBM owners include Catamaran (CTRX), which is being acquired by UnitedHealth (UNH), CVS Health (CVS) and Express Scripts (ESRX). Reference Link
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