Aug. 25, 2014, 8:26 AM| 2 Comments
Aug. 22, 2014, 2:21 PM
- A database failure has impacted all 8.2K Walgreen (WAG) pharmacy locations.
- About half of the company's stores can't fill prescriptions, according to a spokesperson.
- A fix to the system is expected sometime this afternoon. Updated 4:41 p.m.: The company reportedly restored systems at all locations by 2 p.m. EDT.
- Walgreen fills prescriptions at a rate of over 2.1M a day.
Aug. 21, 2014, 11:43 AM
- Hedge funds are having a difficult time of it again this year, up 1% vs. a 7.5% gain for the S&P 500, according to Goldman Sachs, which crunched the numbers on 775 funds with $1.9T in AUM.
- Nevertheless, Goldman's list of 50 stocks which "matter most" to hedge funds has outperformed the S&P 500 on a quarterly basis 66% of the time since 2001. The stocks this quarter (posted in order of the number of funds in which a name is a top-10 holding):
- ACT, AAPL, FB, AGN, AAL, GM, TWC, AIG, MSFT, HTZ, CHTR, MU, WMB, LNG, C, DAL, HCA, APC, CBS, ALLY, GOOGL, APD, NRF, BAC, EBAY, LBTYK, PCLN, VRX, BIDU, DTV, DISH, DG, EQIX, MA, WAG, ARCP, GILD, LINTA, MON, FOXA, VC, AMZN, BRK.A, BRK.B, SUNE, CMCSA, JPM, MIC, CCI, HES, LAMR.
- A special call-out to Northstar Realty (NYSE:NRF), Visteon (NYSE:VC), SunEdison (NYSE:SUNE), Macquarie Infrastructure (NYSE:MIC), and Lamar Advertising (NASDAQ:LAMR) for making the list of hedge fund hotels despite their relatively tiny market caps.
Aug. 20, 2014, 1:12 PM
- Walgreen (WAG -0.2%) pushed out former CEO Wade Miquelon and other financial execs due to a $1.1B forecasting error, according to the WSJ.
- The group had to reduce a $8.5B projection on pharmacy unit savings by the figure last month.
- Higher costs on generic drugs accounted for a good portion of the forecasting misfire.
Aug. 11, 2014, 2:32 PM
- Drugstore stocks are on the move as investors continue to shift assets into consumer staples stocks.
- Walgreen (WAG +2%), CVS Caremark (CVS +0.8%), and Rite Aid (RAD +1.8%) are all higher on the day.
- The trio is also helping lift the Consumer Staples ETF (NYSEARCA:XLP) to a 1% gain to stay ahead of broad market averages.
Aug. 6, 2014, 2:23 PM
Aug. 6, 2014, 12:45 PM
Aug. 6, 2014, 9:19 AM
- Retail analyst Rahul Sharma thinks the market is overreacting to Walgreen (NYSE:WAG) pulling the tax inversion move out of its playbook.
- If there's a concern with the integration of Alliance Boots, Sharma thinks the slower revenue growth of the the European firm should be watched.
- The sudden dip in Walgreen has put shares back in line or below valuation on peers.
- WAG -15.8% premarket
- WAG tax inversion timeline
Aug. 6, 2014, 9:14 AM
Aug. 6, 2014, 7:03 AM
- Walgreen (NYSE:WAG) confirms it will buy the remaining 55% of Alliance Boots it doesn't own.
- The company rattled investors yesterday with a late announcement that it will remain domiciled in the U.S.
- The corporate headquarters of Walgreen Boots Alliance will be in the Chicago area, while Boots will be run from an operations center in the U.K.
- Walgreen says it will accelerate cost-reduction initiatives and sets a new EPS goal for FY16 of $4.25-$4.60.
- WAG -5.9% premarket
Aug. 5, 2014, 3:06 PM| 40 Comments
Aug. 4, 2014, 9:18 AM
Jul. 16, 2014, 7:30 PM
- The Obama administration is proposing a ban on “inversion deals,” retroactive to May 2014, in which U.S. companies buy foreign ones and move corporate headquarters abroad to escape U.S. tax laws.
- Inversion deals are more common among drug and manufacturing companies that earn much of their income overseas or have assets such as patents that are held offshore; shares of companies with pending deals who fell today on the proposal included Shire (NASDAQ:SHPG), AbbVie (NYSE:ABBV), Auxilium Pharma (NASDAQ:AUXL) and QLT (NASDAQ:QLTI).
- In an unprecedented move for a U.S. retailer, Walgreen (NYSE:WAG) also is weighing leaving U.S. shores, a move that could help lower its U.S. tax bill and save the company hundreds of millions of dollars per year.
- With the pace of inversions picking up, many in Washington are critical of the practice but they disagree on what to do about the trend: stop the deals cold via a one-off bill or pass a broad tax overhaul that would lower the 35% corporate tax rate.
Jul. 3, 2014, 8:23 AM
- Walgreen (WAG) reports June sales increased 8.9% Y/Y to $6.28B in June.
- Comparable-store sales in the front end of Walgreens stores rose 1.3% as a higher average basket size offset lower traffic.
- Comparable store pharmacy sales rose 11.3% during the month as a calendar shift contributed positively.
- WAG +0.4% premarket
Jun. 30, 2014, 10:16 AM
- Ohio Governor John Kasich has issued an emergency order in Ohio to allow select Rite Aid (RAD +0.8%) pharmacies to administer the MMR vaccine.
- The state of Ohio has had an outbreak of over 300 cases of measles and more than 400 reported incidents of mumps.
- What to watch: The entry of drugstore operators (WAG, CVS) into more essential healthcare services is a significant part of the growth story in the sector.
Jun. 25, 2014, 8:14 AM
- Following disappointing quarterly results reported yesterday, Walgreen (WAG) rates an upgrade to Buy from Jefferies, citing possible management actions like a tax inversion, recapitalization, and more cost cuts. The team boosts its price target to $87 from $69.
- Goldman maintains its Conviction Buy, but lowers the price target by $3 to $84.
- Shares +0.6% premarket
- Previously: Walgreen misses by $0.03, misses on revenue
WBA vs. ETF Alternatives
Walgreens Boots Alliance Inc operates drug-stores chain in the United States. It provides consumer goods and services, pharmacy, and health and wellness services through drug-stores, as well as mail, and by telephone and online.
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