S&P cuts its outlook on Walgreen (WAG -0.1%) to negative from stable after the drugstore...

|By:, SA News Editor

S&P cuts its outlook on Walgreen (WAG -0.1%) to negative from stable after the drugstore chain fails to make meaningful progress on negotiations with Express Script (ESRX -1.4%) and the two companies remain locked in a legal battle. The ratings agency negative view on the earnings prospects for Walgreen didn't alter its A-rating on the company's credit.