Walgreens Boots Alliance, Inc.NASDAQ
Fri, Oct. 21, 7:46 AM
- Almost Family (NASDAQ:AFAM) upgraded to Outperform from Sector Perform with a $55 (31% upside) price target by RBC Capital.
- Walgreens Boots Alliance (NASDAQ:WBA) upgraded to Buy from Hold by Jefferies. Price target raised to $95 (17% upside) from $87.
- Arbutus Biopharma (NASDAQ:ABUS) upgraded to Neutral from Sell with a $3 price (0% upside) target by Chardan Capital.
- Quintiles IMS Holdings (NYSE:Q) downgraded to Hold from Buy with a $79 (6% upside) price target by Jefferies.
- Anthem (NYSE:ANTM) downgraded to Neutral from Overweight by JPMorgan. Price target lowered to $132 (6% upside) from $154.
- Bluebird bio (NASDAQ:BLUE) downgraded to Sell from Hold by Cantor Fitzgerald. Price target lowered to $37 (32% downside risk) from $42.
- Henry Schein (NASDAQ:HSIC) downgraded to Neutral from Buy by Baird. Price target lowered to $164 (7% upside) from $176.
Thu, Oct. 20, 8:44 AM
- Walgreens Boots Alliance (NASDAQ:WBA) fiscal Q4 results ($M): Net Sales: 28,636 (+0.4%); Retail Pharmacy USA: 20,747 (+4.0%); Retail Pharmacy Intl: 3,037 (-10.9%); Pharmaceutical Wholesale: 5,400 (-6.2%).
- Operating Income: 1,140 (+36.4%); Net Income: 1,035 (+999%); Non-GAAP Net Income: 1,166 (+20.3%); EPS: 0.95 (+999%); Non-GAAP EPS: 1.07 (+21.6%); CF Ops: 2,658 (+76.6%).
- Fiscal 2017 Guidance: Non-GAAP EPS: $4.85 - 5.20, including $0.05 - 0.12 accretion from Rite Aid.
- Shares are up 2% premarket on modest volume.
Thu, Oct. 20, 8:22 AM
Thu, Oct. 20, 7:08 AM| Thu, Oct. 20, 7:08 AM | 13 Comments
Thu, Oct. 20, 7:03 AM
Wed, Oct. 19, 5:30 PM
Wed, Oct. 19, 10:59 AM
- Just a negotiating tactic? Height Securities suggests that Kroger (KR +0.5%) may have intentionally leaked that they were close to stepping away from plans to buy Walgreens and Rite Aid (RAD -5.3%) stores.
- The investment firm speculates that Kroger is still in the mix while it waits for a sweeter offer from Walgreen Boots Alliance (WBA -0.8%).
- Previously: NY Post: Kroger may not buy Walgreens-Rite Aid stores (Oct. 19)
Wed, Oct. 19, 10:14 AM
- Rite Aid (RAD -4.5%) tumbles in early trading after the NY Post reports that Kroger (KR +0.3%) may pass on buying the 650 stores that Walgreens (WBA -1.2%) and RAD would need to sell to gain regulatory approval for their planned merger.
- KR may decide not to buy because the Federal Trade Commission, now a year into its merger review, recently told the company that the stores could not be purchased and closed, with the operations moved inside the grocery stores, according to the report.
- A WBA-RAD merger would create the biggest U.S. drug chain, and the FTC could sue to block the deal without a solution to the stores, but the report quotes a source as saying that both the FTC and WAG remain motivated to find a remedy.
Mon, Oct. 17, 12:22 PM
- Walgreens is the latest retailer to add ship-to-store capabilities to its e-commerce business.
- The chain says there will be no minimum charge for the Ship to Store program. Free shipping will still apply to online orders of $35 or more sent to a customer's home.
- Parent Walgreen Boots Alliance (WBA -0.3%) is due to report Q3 earnings on October 20.
Wed, Oct. 12, 4:31 PM
Tue, Oct. 11, 1:35 PM
- A large part of the retail sector will need to keep a watchful eye on Project Como at Amazon. The plan from the Seattle company to sell perishables out of small brick-and-mortar stores could be a disrupter if it were to be built out at scale.
- Convenience store chains such as Casey's General Stores (NASDAQ:CASY), Murphy's USA (NYSE:MUSA), and CST Brands (NYSE:CST) are already being targeted by 7-Eleven's aggressive expansion goals in the U.S. A store roll-out by Amazon could also impact drug store chains Walgreens (NASDAQ:WBA) and Rite Aid (NYSE:RAD) - as well as apply pricing pressure to the sensitive grocery store sector (KR, SVU, SPTN, IMKTA).
- Previously: 7-Eleven eyes huge expansion in U.S. (Sept. 22)
- Previously: Amazon considered to be planning convenience stores, curbside pickup locations for grocery products (Oct. 11)
Thu, Oct. 6, 3:51 PM
- "There is a growing consensus that suggests a troubling decrease in competition," says FTC Commissioner Terrell McSweeny in prepared remarks at a conference. "Against this backdrop, "the role antitrust plays in maintaining competitive markets has become, quite appropriately, an important topic of public debate."
- Pretty vanilla stuff, but there was also a report last week suggesting the FTC wanted more in the way of divestitures from Walgreens Boots Alliance (WBA -0.3%) before greenlighting the merger.
- RAD -2.85%
Wed, Sep. 28, 9:19 AM
- Private equity firms aren't showing a great deal of interest in the 650 retail stores being unloaded by Walgreens Boots Alliance (NASDAQ:WBA) in order to comply with the FTC's ruling on the Rite Aid (NYSE:RAD) merger, reports New York Post. Many of the stores are seen as unprofitable investments.
- The lack of interest could pave the way for CVS Health (NYSE:CVS) to step in and buy stores selectively if the FTC and Walgreens back off the stated goal of finding a single buyer.
- The 650 units on the sales block only represent 5% of the total Walgreens-Rite Aid store count.
Wed, Sep. 21, 11:20 AM
- The SEC just charged Leon Cooperman with insider trading over Atlas Pipeline Partners, and Omega holdings such as Alitsource Portofolio, Navient, Aercap, and Tribune Media have knee-jerked sharply lower.
- A check of other top Omega holdings: First Data (FDC -1.3%), Allergan (AGN -0.9%), AIG (AIG +0.4%), Walgreens (WBA -0.6%), Dow Chemical (DOW), United Continental (UAL -0.7%), Ashland (ASH +0.3%), Chimera Investment (CIM -0.4%), Motorola (MSI +0.1%), HRG Group (HRG -1%), Microsoft (MSFT +1%), E*Trade (ETFC), New Residential (NRZ -1%), OneMain Holdings (OMF -2.3%), PVH (PVH +0.4%), UnitedHealth (UNH +0.7%), MGM Resorts (MGM -0.5%), New Media (NEWM -1.9%), Dish Network (DISH +0.5%), Synchrony Financial (SYF +1%), Eastman Chemical (EMN +0.3%).
- Previously: Cooperman holdings head south after insider trading charge (Sept. 21)
- Previously: Leon Cooperman charged with insider trading (Sept. 21)
Thu, Sep. 15, 1:59 PM
- A new report from Moody's makes the argument that brick-and-mortar retailers such as Wal-Mart (WMT +1.2%) and Best Buy (BBY +0.1%) are thriving due to their sheer physical size. The ratings agency doesn't believe mass store closing are in the future, but sees a continuing trend toward "repurposing" of the store fleets to evolve to the multi-channel world.
- The pitch runs counter to the calls from some analysts for a mass reduction in square footage by major chains.
- Moody's on WMT: "Walmart's recent acquisition of Jet.com, while not a threat to Amazon's position, provides Walmart a speed advantage in boosting online growth by leveraging Jet's ready-made platform."
- Moody's on BBY:" Best Buy is an example of a retailer that continues to successfully transition online, with penetration approaching 20% of total sales."
- The interesting take from Moody's is probably relevant to other larger retail chains such as Staples (SPLS +1.8%), Target (TGT +0.8%), Walgreen Boots Alliance (WBA +0.3%), L Brands (LB +0.6%), Macy's (M +1%), and TJX Companies (TJX +0.8%) as well.
- Moody's press release
Thu, Sep. 15, 9:02 AM
- Retail sales fell in August on a month-over-month comparison. The drop wasn't a large surprise considering the onslaught of warnings from the retail sector on store traffic.
- 8 out of the 13 retail categories showed negative growth during the month, with the largest drops recorded in the building material/garden equipment/supplies dealers and miscellaneous store retailers categories. The broad weakness turned on its head the argument that money freed up from a lower level of auto sales would be funneled into other consumer purchases.
- Food services and drinking places showed a +0.9% M/M and +5.8% Y/Y increase in a somewhat surprising result considering the harsh read from Black Box Intelligence on August same-store sales in the restaurant sector BITE. Is the discrepancy an indication that independent restaurants are taking market share?
- On a year-over-year basis, retail sales were up 1.9%. As expected the Amazon-influenced nonstore retailers category did the heavy lifting with an 11% gain. Larger U.S. retail chains (WMT, SPLS, TGT, BBY, DG, COST, KR, WBA, CVS, LOW, HD, SWY) have been raising the issue of pricing pressure in recent conference presentations and guidance updates which could be a nagging sales deflator for the balance of the year.
- Previously: Retail sales disappoint in August (Sept. 15)
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