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Stock Market & Financial Investment News

News Breaks
June 23, 2014
07:10 EDTWAGWalgreen volatility increases into Q3 and outlook
Walgreen June weekly call option implied volatility is at 63, July is at 37, August is at 32, October is at 28; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on June 24.
News For WAG From The Last 14 Days
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August 7, 2014
09:08 EDTWAGOn The Fly: Pre-market Movers
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07:07 EDTWAGWalgreen upgraded to Hold from Sell at Cantor
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06:56 EDTWAGWalgreen had multiple reasons for avoiding inversion, Reuters columnist says
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August 6, 2014
18:18 EDTWAGWalgreen looks good for long-term investors, Barron's says
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17:05 EDTWAGOn The Fly: Closing Wrap
Stocks on Wall Street were nearly unchanged following a session dominated by talk of big name deals that did not happen. The market moved lower in the early going but found a level in the second half hour of trading and began to drift off the bottom. The averages crossed into positive territory about an hour after the opening bell and then spent most of the afternoon drifting. ECONOMIC EVENTS: In the U.S., the trade deficit narrowed to $41.5B in June from a revised $44.7B in May. In Europe, Italian GDP unexpectedly contracted 0.2% in Q2, putting the country into a technical recession, while German manufacturing orders surprised with a 3.2% June drop. COMPANY NEWS: Time Warner (TWX) reported better than expected quarterly profits, but its stock fell $10.95, or 12.85%, to $74.24 after 21st Century Fox (FOXA, FOX) last night announced that it had withdrawn its takeover bid for the parent of HBO, Warner Bros. and other entertainment properties. Class A shares of 21st Century Fox advanced $1.03, or 3.29%, to $32.33 in the wake of the news and the company's announcement of a $6B share repurchase program... Wireless carriers Sprint (S) and T-Mobile (TMUS) both fell after multiple media outlets reported that the third largest mobile phone carrier in the U.S. has ended its pursuit of trying to combine with the fourth largest one. Sprint, which also replaced CEO Dan Hesse with Marcelo Claure, the founder and CEO of SoftBank (SFTBF) subsidiary Brightstar, declined $1.38, or 18.96%, to $5.90, while T-Mobile shares slid $2.85, or 8.4%, to $31.06. MAJOR MOVERS: Among the notable gainers was brewer Molson Coors (TAP), which rose $3.87, or 5.76%, to $71.08 after the company's second quarter profits topped expectations. Also higher following its earnings report was Enphase Energy (ENPH), which advanced $1.36, or 14.02%, to $11.06. Among the noteworthy losers was Walgreen (WAG), which dropped $9.91, or 14.34%, to $59.21 after the company exercised its option to acquire the remaining 55% of Alliance Boots that it does not already own but said its purchase of the rest of the U.K.'s Boots will not be a "tax inversion" deal, as many had been expecting. Also lower were shares of Groupon (GRPN), which fell 90c, or 12.72%, to $6.17 after the company reported first quarter revenue that missed expectations and it lowered its fiscal 2014 adjusted EBITDA outlook. INDEXES: The Dow added 13.87, or 0.08%, to 16,443.34, the Nasdaq rose 2.22, or 0.05%, to 4,355.05, and the S&P 500 barely budged, gaining 0.03 to 1,920.24.
12:12 EDTWAGOn The Fly: Midday Wrap
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12:09 EDTWAGWalgreen volatility flat on acquiring remaining 55% of Alliance Boots
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09:58 EDTWAGWalgreen shares defended at SunTrust
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09:19 EDTWAGShire, AstraZeneca, Smith & Nephew slump amid inversion fears, FT says
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09:13 EDTWAGOn The Fly: Pre-market Movers
HIGHER: Fox class A shares (FOXA), up 5.9% after withdrawing proposal to acquire Time Warner (TWX), announcing $6B share repurchase program, reporting quarterly results... MannKind (MNKD), up 1.6% after entering a supply agreement with Amphastar Pharmaceuticals (AMPH)... Criteo (CRTO), up 11.5% after upgraded at Goldman following its better than expected Q2 earnings report. LOWER: Time Warner (TWX), down 13% after earnings, maintaining guidance, bid dropped by Fox... Sprint (S), down 16.5% after naming Marcelo Claure as president and CEO, reportedly dropping pursuit of T-Mobile (TMUS). T-Mobile shares also down 8.5%... Groupon (GRPN), down 18%, downgraded at Wunderlich after the company reported lower than expected Q3 results... Walgreen (WAG), down 15.7% after exercises option to acquire remaining 55% of Alliance Boots, says it will not pursue inversion as part of deal... Shire (SHPG), down 6% after Walgreen announced it would stay located in Chicago and Bloomberg last night reported that the Treasury Department is exploring ways to bypass Congress in an attempt to curb corporate inversions... Cytori Therapeutics (CYTX), down 33% after announcing that it has placed enrollment in the ATHENA and ATHENA II trials on clinical hold. UP AFTER EARNINGS: Enphase Energy (ENPH), up 20%... AOL (AOL), up 5%. DOWN AFTER EARNINGS: Nu Skin (NUS), down 8.5%... Rocket Fuel (FUEL), down 27%... Cognizant (CTSH), down 13%... First Solar (FSLR), down 2.5%... Globus Medical (GMED), down 17%.
08:40 EDTWAGShire drops 5% with tax inversions in focus
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07:47 EDTWAGRetailers pare store openings as shopper visits slide, WSJ says
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07:16 EDTWAGWalgreen news positive, says SunTrust
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06:44 EDTWAGWalgreen to hold a conference call
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06:11 EDTWAGWalgreens Boots Alliance holding company to be headquartered in Chicago area
The Walgreens Boots Alliance holding company will be headquartered in the Chicago area, while Walgreens operations will remain headquartered in Deerfield, Ill. Boots operations also will remain headquartered at its current location in Nottingham, U.K.
06:10 EDTWAGWalgreen said the decision to buy rest of Rival Boots will not be inversion
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06:09 EDTWAGWalgreen board authorizes $3B share repurchase program, raises dividend
The board of directors has approved a new capital allocation policy for the combined enterprise. Returning cash to shareholders by targeting a 30%-35% long-term dividend payout ratio and a new $3B share repurchase authorization through the end of fiscal 2016. In addition, the board of Walgreen ncreased the quarterly dividend to 33.75c per share, a 7.1% increase over the year-ago quarterly dividend of 31.5c per share. The increased dividend is payable Sept. 12 to shareholders of record Aug. 21, and raises the annual rate from $1.26 per share to $1.35 per share.
06:07 EDTWAGWalgreen sees FY16 EPS $4.25-$4.60; FY16 revenue $126B-$130B
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06:04 EDTWAGWalgreen exercises option to acquire remaining 55% of Alliance Boots
Walgreens said it has exercised its option to complete the second step of its strategic transaction with Alliance Boots GmbH ahead of the original option period, which was between February and August 2015. The transaction, subject to shareholder and various regulatory approvals, would fully combine the two companies to form the first global pharmacy-led, health and wellbeing enterprise. This action follows the launch of the companies’ long-term strategic partnership in June 2012, when Walgreens acquired a 45% equity ownership in Alliance Boots, with the option to proceed to a full combination by acquiring the remaining 55% of Alliance Boots in three years’ time. Walgreens expects to close the transaction in the first quarter of calendar 2015. A new holding company to be formed in connection with the transaction will be named Walgreens Boots Alliance, and will include four divisions: Walgreen Co.; Boots; Pharmaceutical Wholesale and International Retail; and Global Brands. In addition, the combined company is establishing a cross-divisional global pharmacy market access group. CEO and board member Greg Wasson will be president and CEO of Walgreens Boots Alliance, and Stefano Pessina, executive chairman of Alliance Boots, will be executive vice chairman of the combined company. Jim Skinner will serve as the non-executive chairman of the board of directors for the combined company.
06:02 EDTWAGWalgreen exercises option to acquire remaining 55% of Alliance Boots
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