Yahoo Finance Today’s Research Reports on Stocks to Watch: Rite Aid and Walgreens
NEW YORK, NY / ACCESSWIRE / April 2, 2018 / Shares of Rite Aid saw gains on Thursday as it was announced this week that the company received U.S. regulatory approval and is inching towards completing its proposed transaction with privately held Albertsons. Shares of Walgreens closed down in the red despite strong earnings announced this past Wednesday
RDI Initiates Coverage on:
Rite Aid Corporation
https://rdinvesting.com/news/?ticker=RAD
Walgreens Boots Alliance, Inc.
https://rdinvesting.com/news/?ticker=WBA
Rite Aid Corporation shares closed up a modest 0.60% yesterday on about 42 million shares traded. It was this week that the pharmacy chain announced that the "waiting period under the Hart-Scott-Rodino Antitrust Improvements Act" has expired. This was a key U.S. antitrust regulatory hurdle that the company, along with Albertsons, was able to jump over. "The expiration of the HSR waiting period is an important step toward completing the proposed transaction with Albertsons which will create a truly differentiated leader in food, health and wellness to meet the evolving needs of customers," remarked Rite Aid Chairman and Chief Executive Officer John Standley yesterday. "We remain focused on combining our two organizations to drive growth, profitability and long-term shareholder value." It was in February that Privately-held Albertsons Companies said it would merge with Rite Aid Corp. to create a leader in food, health, and wellness. The deal is on its way to potential approval later this year and still needs the approval of Rite Aid shareholders. A spokeswoman for the company stated, "We will be setting a date and time for a special shareholder meeting in the coming months."
Access RDI's Rite Aid Corporation Research Report at:
https://rdinvesting.com/news/?ticker=RAD
Walgreens Boots Alliance, Inc. shares closed down 3.14% yesterday with around 8.2 million shares traded. The company is working on unveiling a new format in some pilot stores in the next few months but there are no plans to roll this out nationwide as of yet. The company's co-chief operating officer Alex Gourlay said to analysts on Wednesday, "In the new store format we'll bring together such areas as optical, hearing care and lab along with further testing of value loyalty and supply chain initiatives. We plan to bring together all of this learning in the pilot stores. The new formats are as much about bringing Walgreens up to date as in themselves delivering the future though they will provide a platform from which we can deliver future services retail offerings and accessible healthcare.” It was on Wednesday that the company reported its second quarter financial results revealing EPS of $1.73, a growth of 27% from the year ago period. Revenue was $33.02 billion, a growth of 12.1%. Analysts were waiting for EPS of $1.55 and revenue of $31.993 billion.
Access RDI's Walgreens Boots Alliance, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=WBA
Our Actionable Research on Rite Aid Corporation (NYSE: RAD) and Walgreens Boots Alliance, Inc. (NASDAQ: WBA) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
