Pharmacy Stocks Follow Walgreen Company's Lead Amid Earnings Release
On Tuesday, Walgreen Company (NYSE: WAG) reported fourth quarter earnings. The company reported fourth quarter 2014 EPS of $0.74, which met Street estimates. Revenues came in at $19.06 billion, beating estimates by $40 million or 0.21 percent.
Following the positive results, shares of Walgreen’s opened Tuesday’s trading session up slightly and continued to rise to a high of $61.34.
$61.34 appeared to be an attractive selling point as the stock feel sharply to a low of $58.39.
Since the initial drop, shares rebounded to $59.75 and cooled off slightly to where the stock was last trading at $59.42.
Amid the Walgreen’s release; other pharmacy stocks opened higher, but have slipped lower throughout the trading session.
Rite Aid Corporation (NYSE: RAD) at $4.86, down 2.2 percent.
CVS Health Corp (NYSE: CVS) at $79.66, down 0.46 percent.
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