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Rite Aid -11% after lowering EBITDA guidance

|About: Rite Aid Corporation (RAD)|By:, SA News Editor

Rite Aid (NYSE:RAD) falls sharply after lowering its view for full-year EBITDA due to recent generic drug bid activity and anticipated generic drug market conditions for the balance of the year.

The retailer sees adusted EBITDA of $540M to $590M vs. a prior forecast for $615M to $675M.

Shares of Rite Aid are down 10.57% in premarket action.

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