|Bid||2.390 x 147900|
|Ask||2.400 x 98100|
|Day's Range||2.380 - 2.420|
|52 Week Range||2.210 - 8.770|
|PE Ratio (TTM)||-37.42|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
Rite Aid Corporation (RAD) is slated to report second-quarter fiscal 2018 results on Sep 28.
Credit Suisse Walgreens Boots Alliance received regulatory clearance to purchase 1,932 stores, three distribution centers, along with related inventory from Rite Aid, pursuant to a new amended agreement. Walgreens (WBA) will pay $4.375 billion for the assets with store purchases commencing in October with completion in spring 2018. Walgreens is tweaking its synergy target to $300 million-plus in annual synergies in four years (from $400 million), driven by procurement efficiencies and cost savings.
Short interest is moderate for RAD with between 5 and 10% of shares outstanding currently on loan. This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on September 19.