Fri, Sep. 18, 6:58 AM
- McKesson (NYSE:MCK) announces it acquired the pharmaceutical division of UDG Healthcare for $408M.
- The transaction will need to be cleared by the European Union before closing in the first half of next year.
- The company expect a positive impact on earnings per share of $0.12 to $0.14 for the 12 months after closing.
Tue, Sep. 15, 5:16 PM
- McKesson (NYSE:MCK) inks a five-year distribution deal with grocer Albertsons (Pending:ABS) for the sourcing and distribution of branded and generic pharmaceuticals in Albertsons' network of almost 1,700 pharmacies. The agreement commences on April 1, 2016.
- Specific financial details are undisclosed.
Fri, Jul. 31, 9:46 AM
- Cintas (CTAS +0.4%) announces that it will acquire Zee Medical from McKesson Corporation (MCK +0.2%) for consideration of approximately $130 million in cash.
- The company expects the acquisition to generate annual revenue of $110 million to $120 million, expanding its footprint in van delivered first aid, safety, training and emergency products, and building its customer base in North America.
- The transaction is expected to close on August 1, 2015.
Wed, Jul. 29, 4:57 PM
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Mon, May 18, 1:07 PM
- Societe Generale is out with a note in which it dissects the impact of higher interest rates on stocks.
- The investment firm notes the Consumer Staples ETF (NYSEARCA:XLP) boasts a dividend yield of 2.5% which becomes less attractive as rates march upward.
- Individual consumer staples stocks identified by SG as having the strongest correlation to swings in the 10-year Treasury yield are Colgate-Palmolive (NYSE:CL), Costco (NASDAQ:COST), McKesson (NYSE:MCK), and Brown-Forman (BF.A, BF.B).
- Consumer Staples ETFs: VDC, FXG, RHS, FSTA, PSL, PSCC.
Fri, May 15, 12:40 PM
- Dan Loeb's Third Point LLC exited its 10M-share Alibaba (BABA - unchanged) position in Q1, after having upped its stake in the Chinese e-commerce giant in Q4. (13F filing)
- The firm also unloaded its 7M-share position in EMC (EMC -0.1%), which confirmed during the quarter it doesn't plan to spin off VMware, and a 4M-share stake in Williams (WMB +1.3%).
- A 3.3M-share stake was taken in Yum Brands (YUM +3.6%), a 900K-share stake in FedEx (FDX +0.7%), a 1.15M-share stake in J.M. Smucker (SJM -0.1%), and a 626K-share stake in McKesson (MCK). Loeb also respectively took 1.6M-share and 3.5M-share stakes in chipmakers NXP (NXPI +0.2%) and Maxim (MXIM +0.4%).
- Stakes were increased in Delta Air Lines, Actavis, FleetCor, and Roper Technologies, and decreased in Amgen, Ally Financial, eBay, Phillips 66, and Anheuser Busch. Interestingly, a modest 90K-share position was taken in top Alibaba rival JD.com (JD -0.8%).
- Meb Faber observes someone tracking Loeb's top 10 picks since 2000 would have obtained a 12.4% annual return since 2000 (504.8% overall), soundly beating the S&P 500's 4.4% (95.4% overall).
Tue, May 12, 4:13 PM
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Fri, May 1, 9:53 AM
- U.S. drug wholesaler McKesson (MCK +0.2%) settles investigations from several federal agencies, including the Department of Justice, over suspicious order reporting practices for controlled substances.
- The settlement requires the firm to pay a $150M fine and suspend the registrations of at least three distribution centers for two years. The suspensions will not affect product supply to any customer.
- The company's Landover, MD distribution center is still being investigated for its activities regarding controlled substances.
- McKesson accounted for the settlement in its fiscal year ended March 31.
Thu, Apr. 30, 4:08 PM
- According to Bloomberg, the list of firms that have indicated an interest in Omnicare (NYSE:OCR) include Express Scripts (NASDAQ:ESRX), CVS Health (NYSE:CVS), Walgreens Boots Alliance (NASDAQ:WBA) and McKesson (NYSE:MCK). Initial bids for the $8.5B market cap firm are due in May.
- Previously: Omnicare reportedly exploring sale; trading halted (April 22)
- Previously: Omnicare buyer would need to pay $95/share - UBS (April 23)
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