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Stock Market & Financial Investment News

News Breaks
August 5, 2014
14:27 EDTWAGWalgreen to buy rest of Alliance Boots, won't pursue inversion, Sky News says
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News For WAG From The Last 14 Days
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October 1, 2014
08:09 EDTWAGWestern Union launches money transfer at Walgreens, Duane Reade
The Western Union Company (WU) and Walgreens (WAG) have launched quicker and simpler international and domestic money transfers through a new Western Union stage-and-pay kiosk model via the Walgreens Balance Financial platform.
07:33 EDTWAGExpress Scripts' plan offer preferred pharmacy network featuring Walgreens
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September 30, 2014
11:10 EDTWAGWalgreen 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.
09:36 EDTWAGActive equity options trading on open
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09:13 EDTWAGWalgreen: There won't be material change in free cash flow in 2015
09:10 EDTWAGOn The Fly: Pre-market Movers
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09:07 EDTWAGWalgreen: Generic drug inflation will be with us for a while
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07:37 EDTWAGWalgreen targeting cost savings of $1B by FY17
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07:36 EDTWAGWalgreen sees FY15 synergies with Alliance Boots $650M
Walgreen reports combined FY14 synergies with Alliance Boots reached $491M. FY15 synergies are expected to be approximately $650M. The company opened or acquired 46 new drugstores in Q4, compared with 33 in the year-ago quarter. In FY14, Walgreens added a net gain of 21 new drugstores in addition to 70 net new drugstores through acquisitions. At Aug. 31, Walgreens operated 8,309 locations.
07:32 EDTWAGWalgreen reports Q4 adjusted EPS 74c, consensus 74c
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September 29, 2014
15:34 EDTWAGWalgreen technical comments ahead of earnings
The shares have broadly underperformed the averages in the last three months, trading down over 19%. The trend was moderately down until a large gap down in share price in early August. Since then the shares have traded in a relatively narrow range defined largely by a low at $60 and a high at $65. Ahead of earnings the shares have edged below that $60 level. If the news is worse than already low expectations, the $60 area will be one to watch. A continued slide in share price below $60 would see supports as potential downside objectives at $57.75, $53.76 which is the 52-week low, and $50.33 on an extreme move on a large disappointment. If the news exceeds low expectations, there would be room for a snap-back rally. Resistance levels which could become upside objectives are at $62.49, $65.19, and $66.50. The latter level is the top of the bearish gap from early August. A bullish filling of that gap would be bullish for future price.
15:11 EDTWAGNotable companies reporting before tomorrow's open
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10:23 EDTWAGWalgreen October weekly volatility increases into Q4 and outlook
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06:38 EDTWAGWalgreen says court preliminarily approves shareholder settlement
Walgreen said in a filling on Friday that on September 19, the United States District Court for the Northern District of Illinois, Eastern Division, issued an order preliminarily approving a proposed settlement by and among Walgreen Co, the plaintiffs, and all named individual defendants in the shareholder derivative action entitled In re Walgreen Co. Derivative Litigation, No. 13-05471. The proposed settlement implements the agreement in principle reflected in the settlement term sheet executed by the parties in June 2014, as previously disclosed in the Companyís Form 10-Q for the fiscal quarter ended May 31, 2014.A hearing to determine whether the court should issue an order of final approval of the settlement has been scheduled for December 9, 2014, at 11:15 a.m. in Courtroom 1925 at the United States District Court for the Northern District of Illinois, Eastern Division, Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, Illinois, 60604. Pursuant to the courtís order, any objections to the settlement must be filed in writing with the court by no later than November 25, 2014. Additional information concerning the terms of the proposed settlement, the December 9, 2014 hearing, and the requirements for objections can be found in the Notice of Pendency and Settlement of Shareholder Derivative Action.
September 26, 2014
15:46 EDTWAGOptions expected to be active next week
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September 24, 2014
14:16 EDTWAGWalgreen October weekly volatility elevated into Q4 and revenue outlook
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06:50 EDTWAGWalgreen mulls infusion division sale deal, Reuters says
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September 22, 2014
10:15 EDTWAGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actavis (ACT) downgraded to Equal Weight from Overweight at Barclays... Aetna (AET) downgraded to Neutral from Buy at BofA/Merrill... Auxilium (AUXL) downgraded to Hold from Buy at Stifel... CARBO Ceramics (CRR) downgraded to Neutral from Buy at Sterne Agee... Commerzbank (CRZBY) downgraded to Underperform from Neutral at Exane BNP Paribas... Concur (CNQR) downgraded to Neutral from Buy at Nomura... Dresser-Rand (DRC) downgraded to Neutral from Accumulate at Global Hunter... Finish Line (FINL) downgraded to Equal Weight from Overweight at Morgan Stanley... General Communications (GNCMA) downgraded to Hold from Buy at Drexel Hamilton... InvenSense (INVN) downgraded to Neutral from Outperform at RW Baird... Las Vegas Sands (LVS) downgraded to Market Perform from Outperform at Wells Fargo... Lindsay Corp. (LNN) downgraded at Sterne Agee... Melco Crown (MPEL) downgraded to Market Perform from Outperform at Wells Fargo... Outerwall (OUTR) downgraded to Sell from Neutral at B. Riley... PSEG (PEG) downgraded to Hold from Buy at Jefferies... Realogy (RLGY) downgraded to Underperform from Neutral at Credit Suisse... Regal-Beloit (RBC) downgraded to Accumulate from Buy at Global Hunter... SABMiller (SBMRY) downgraded to Market Perform from Outperform at Bernstein... Saba Software (SABA) downgraded to Neutral from Buy at B. Riley... Suburban Propane (SPH) downgraded to Market Perform from Outperform at Wells Fargo... Swiss Re (SSREY) downgraded to Underperform from Neutral at Exane BNP Paribas... Towers Watson (TW) downgraded to Buy from Conviction Buy at Goldman... Valmont (VMI) downgraded at Sterne Agee... Walgreen (WAG) downgraded to Equal Weight from Overweight at Barclays... Watts Water (WTS) downgraded to Neutral from Buy at Janney Capital... Wynn Resorts (WYNN) downgraded to Market Perform from Outperform at Wells Fargo... Yahoo (YHOO) downgraded to Neutral from Buy at BofA/Merrill.
05:55 EDTWAGWalgreen downgraded to Equal Weight from Overweight at Barclays
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September 18, 2014
11:55 EDTWAGRite Aid falls as drugstore chain trims FY15 view
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