9.6400 +9.15 (1,883.54%)
Pre-Market: 4:46AM EDT
|Bid||2.4000 x 1300|
|Ask||0.0000 x 1000|
|Day's Range||0.4416 - 0.4860|
|52 Week Range||0.4300 - 2.1200|
|Beta (3Y Monthly)||1.96|
|PE Ratio (TTM)||N/A|
|Earnings Date||Sep 20, 2017 - Sep 25, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.48|
Analysts at Raymond James lowered their price target on shares of CVS Health Corp. to $75 from $90 on Thursday, citing "the collapse in sentiment for the payor-PBM complex." They maintained their strong buy rating on the stock, saying they "believe the discount is unwarranted," but acknowledging "significant overhangs on the political/headline front that are unlikely to abate in the immediate term." CVS shares have fallen 20% so far this year, and peers Walgreens Boots Alliance Inc. and Rite Aid Corp. have declined by 19% and 32%, respectively. A recent rout in health stocks comes amid calls for drug price transparency and U.S. Sen. Bernie Sanders' unveiling of a new "Medicare for All" plan. The SPDR Health Care Select Sector exchange-traded fund has dipped 0.8% in the year to date, severely lagging the S&P 500 , which has gained 15.7%, and the Dow Jones Industrial Average , which has gained 13.4%.
Rite Aid Corporation (NYSE: RAD), CVS Health Corp (NYSE: CVS), and Walgreens (NASDAQ: WBA) recently announced plans to sell cannabidiol, or CBD, products in 2,500 stores across 19 states. The stores will only sell topical CBD products, such as chapstick, lotions and body sprays. Rite Aid also announced it will stop selling e-cigarettes in an attempt to address an increase in teen smokeless tobacco use.
NEW YORK (AP) — In a story April 15 about CBD, The Associated Press reported erroneously the parent company of Nine West. It is Authentic Brands Group, not Authentic Fitness.
With an increase in measles cases being reported in many parts of the country, Rite Aid announced today that Measles-Mumps-Rubella (MMR) vaccinations are available upon request at Rite Aid pharmacies nationwide based on Centers for Disease Control (CDC) vaccine guidelines and state regulations. No appointment is necessary and vaccinations from a Rite Aid certified immunizing pharmacist are available during normal pharmacy business hours. As of April 11, 2019, there are currently 555 confirmed cases of measles, in the United States, according to the CDC.
Rite Aid Corporation (RAD) today announced that its Board of Directors has appointed Elizabeth (“Busy”) Burr, who most recently served as chief innovation officer and vice president of healthcare trend and innovation at Humana, and Katherine (“Kate”) Quinn, who currently serves as vice chairman and chief administrative officer of U.S. Bancorp, to the Rite Aid Board.
April started poorly for Walgreens Boots Alliance (NASDAQ: WBA). A weak second-quarter earnings report sent Walgreens stock down 12.8% on April 2. With a downtrend very clearly in place, why should investors even consider WBA stock after the plunge?Source: Mike Mozart via FlickrWalgreens reported non-GAAP earnings of $1.64 as revenue grew 4.6% to $34.53 billion. A confluence of negative headwinds hit the company's bottom line. Higher reimbursement pressures, lower generic deflation, lower brand inflation and weak performance from restructuring programs led to the poor results. * 7 Marijuana Companies: Which Pot Stocks Should You Buy? Markets now know why Walgreens, along with CVS (NYSE: CVS) and Rite Aid (NYSE: RAD) fell ahead of the results report. Markets even sold off health care plan stocks like Cigna (NYSE: CI) and Humana (NYSE: HUM) in 2019: there are significant market-wide headwinds.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Long-Term Growth and Walgreens StockWalgreens has four strategic priorities aimed at delivering sustainable, long-term growth. It is accelerating the company's digital footprint, transforming its approach to retail, creating neighborhood health destinations, and implementing a revamped cost management program.This jargon on cost reduction will not mean much to the shareholder who just lost 12.8%.To stabilize the business as reimbursement pressures worsen, Walgreens must improve same-store sales. The near-term problems in achieving growth here are the acquired Rite Aid stores. Sales grew 7.3% and organic sales grew 1.6% but adjusted growth profit declined a substantial 3.5% in the quarter. Pharmacy and retail both fell. Gross margin from Pharmacy fell 260 basis points.A 6.8% drop in SG&A spend, along with cost savings initiatives ahead may slow the weakening operating income, which fell 11.9% in the second quarter. Opportunity and Walgreens StockA weaker cough, cold, and flu season added to Walgreens' woes but could create an opportunity for value investors. Since results were so weak, Walgreens could move up from here if management moves swiftly to balance its operating expenses against the higher reimbursement pressure.Digitization will help Walgreens increase its efficiency but it needs more than that. Still, bringing in the Microsoft (NASDAQ: MSFT) Teams to consolidate its internal digital team under a Chief Digital Officer will improve back-office efficiency.Walgreens restructured management such that there are two teams in development and delivery. One accomplishment is that its 5-star rated app has 55 million downloads. Another is it has 85 million active Balance Rewards members. The drug store clearly has the potential to reach out to its customer base through the mobile app. What is not clear yet is how much more business the app will bring for Walgreens. Near-term OutlookThe weak current third quarter for Walgreens will follow with improvements in Q4. While investors are disturbed by management's realistic goal-setting of mid-to-high single-digit growth, the reset in expectations creates an entry point for value investors.Plus, with the company working to offset the generic impact by 50% - 60%, profit margins may start to stabilize. Overall, it plans to cut costs by $1.5 billion. That is a substantial number and will benefit the company's long-term health.Walgreens will also shift its resources towards growing its Health & Beauty segment where it is confident that it can win an already very attractive business. The Bottom Line on Walgreens StockThe analyst positional changes are mixed. According to Tipranks, one analyst called WBA stock a "sell" while six have a "hold" and two analysts have a "buy." The average price target is $61 a share, which suggests the stock has an upside of 11%.Patient investors may want to wait for the selling-pressure to ease for a few days. Walgreens is already trading at a discount but this could widen. Still, even though drug store stocks are out of favor, Walgreens is the strongest of the available picks.Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Internet Stocks to Watch * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back Compare Brokers The post There's a Buy the Dip Opportunity in Walgreens Stock but It Isn't Now appeared first on InvestorPlace.
Rite Aid (RAD) posts narrower-than-expected loss in fourth-quarter fiscal 2019. Moreover, it issues a soft outlook for fiscal 2020.
Stocks are stagnating lower on Thursday, but aren't declining with any real staying power. As boring as that action can be, investors need to be careful not to overtrade. If need be, walk away from your desk for a while and get some fresh air. Then come back and let's talk about some top stock trades. Top Stock Trades for Tomorrow 1: Rite AidShares of Rite Aid (NYSE:RAD) are making new lows (what else is new) as the company reported fourth-quarter earnings. RAD missed on earnings and revenue estimates, provided weak guidance and announced 1:20 reverse split.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 AI Stocks to Watch with Strong Long-Term Narratives Let's put it this way: A healthy company doesn't reverse split.We've said to avoid RAD stock over and over throughout the years. The company is circling the drain and there's no reason to trade this one when there's so many other options out there. Even shorts can be burned by a temporary squeeze. Top Stock Trades for Tomorrow 2: CVS HealthA cheap valuation, decent growth and a solid dividend aren't enough to support CVS Health (NYSE:CVS). I highlighted this one as a trade last month before shares promptly jumped about 10%. Since then though, the stock has come back down to this $52 level twice now.If it gets there again, will it hold as support? The chart looks grim and while I was a buyer on the initial test of $52, I'm not now. There's no telling where this will find support if the recent lows give way.On the upside, CVS needs to get above downtrend resistance and the 20-day moving average. Top Stock Trades for Tomorrow 3: UnitedHealthUnitedHealth (NYSE:UNH) has a similar chart, with downtrend resistance squeezing the share price into repeated support. Uptrend support (purple line) has given way, so it's all up to bulls to step up to the plate between Thursday's lows and $235.A drop below $230 puts UNH in no man's land for the time being. If it holds, see if UNH can get above $246 to $250 on a rally. Top Stock Trades for Tomorrow 4: Canopy GrowthRemember when we talked about the very slow consolidation in Canopy Growth (NYSE:CGC) stock a few months ago? We ended up stopping out of this one as uptrend support and the 50-day moving average gave way.It looked like $42 was going to hold up as support, but it wasn't worth the risk to us. As you can see in April though, $42 actually turned into resistance after acting as temporary support.CGC may pull in some buyers near the 200-day, but cannabis stocks like CGC, Cronos Group (NASDAQ:CRON), Tilray (NASDAQ:TLRY) and others are under pressure. It's not clear yet whether the 200-day will act as support.If it does, bulls have a clear line in the sand. If not, look for potential short-term support in the $37 to $38 area. Below that and ~$34 is in the cards. Top Stock Trades for Tomorrow 5: Intercept PharmaceuticalsDisappointing late-stage data disappointed investors in Intercept Pharmaceuticals (NASDAQ:ICPT), which is down almost 13% on the day as a result.Prior resistance near $115 did not act as support, as ICPT is knifing through all three major moving averages on Thursday. It's not a good look for bulls. If ICPT can't get back above the 200-day and 50-day moving averages, or if it does temporarily but they turn into resistance, then the stock could be heading lower. * 8 Risky Stocks to Watch as Earnings Season Kicks Off If that's the case, a test of uptrend support is certainly possible, currently about $15 or 14.3% below current levels. If shares bounce from current levels, look for a retest of $115 and see how ICPT does then.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities.Compare Brokers The post 5 Top Stock Trades for Friday: CGC, CVS, ICPT, RAD, UNH appeared first on InvestorPlace.
Rite Aid (NYSE:RAD) announce on Thursday morning that the company will begin selling CBD products in its stores this month, while also phasing out e-cigarette products.The Camp Hill, Penn.-based drugstore chain revealed it plans on selling CBD creams, lotions and lip balms in Washington and Oregon starting this month. CBD is a cannabis-derived product that may help with insomnia, pain relief and more, but does not have the intoxicating effects of THC."Rite Aid has heard from many customers about their interest in purchasing CBD products," the company said in a statement. The business is following the initiative of other drugstores that are planning on rolling out CBD products as well, including Walgreens and CVS.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe company is launching these items in more than 200 stores across the two northwestern states. CBD derived from hemp was legalized last year, but the FDA says companies still can't add it to food or sell it as a dietary supplement for now.Rite Aid also said the business will stop selling e-cigarettes as we are facing a teen vaping "epidemic," but the company will continue selling cigarettes. "While many feel [e-cigarettes] are beneficial to those of legal age who are trying to quit the use of tobacco, we have made the decision to remove all electronic cigarettes and vaping products from our offering at all Rite Aid stores," Chief Operating Officer Bryan Everett said.RAD stock is down about 10.1% on Thursday. More From InvestorPlace * 8 Risky Stocks to Watch as Earnings Season Kicks Off * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back Compare Brokers The post Rite Aid to Sell CBD Products, Remove E-Cigarettes appeared first on InvestorPlace.
plummeted 10.30% to 51 cents a share Thursday after the retail drugstore operator fell short of Wall Street's fourth-quarter revenue expectations and offered weak guidance for the fiscal year. The company a year earlier reported a net loss of $7.8 million, or 1 cent a share. Revenue in the fourth quarter was $5.38 billion, down slightly from last year and missed Wall Street's expectations of $5.56 billion.
Rite Aid earnings for its fiscal fourth quarter of 2019 have RAD stock falling hard on Thursday.Source: Shutterstock Rite Aid (NYSE:RAD) reported losses per share of one penny for its fiscal fourth quarter of the year. This is the same as the company's losses per share from its fiscal fourth quarter of 2018. It also comes in above Wall Street's losses per share estimate of 2 cents for the period, but wasn't saving RAD stock from dropping today.Net loss reported in the Rite Aid earnings release for its fiscal fourth quarter of 2019 comes in at $272.98 million. This is worse off than the company's net income of $767.07 million reported in the same period of the year prior.InvestorPlace - Stock Market News, Stock Advice & Trading TipsRite Aid earnings for its fiscal fourth quarter of 2019 also include revenue of $5.38 billion. This is a slight drop from the company's revenue of $5.39 billion reported in its fiscal fourth quarter of the previous year. It was also bad news for RAD stock by missing analysts' revenue estimate of $5.56 billion for the quarter. * 7 AI Stocks to Watch with Strong Long-Term Narratives The Rite Aid earnings report for its fiscal fourth quarter of the year also includes an update to its reverse stock split plan. The company says that this will have is consolidating stock on a one to 20 basis. This will take the total amount of outstanding shares of RAD stock down from 1.08 billion to 54 million. The change will go into effect on April 22, 2019.RAD stock was down 10% as of Thursday afternoon. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * FAANNG Stocks, Ranked From Cheapest to Most Expensive * 7 Stocks With a Lot on the Line This Earnings Season * 7 Marijuana Companies: Which Pot Stocks Should You Buy? As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Rite Aid Earnings: RAD Stock Takes Big Hit on Q4 Results, Reverse Stock Split Plan appeared first on InvestorPlace.
Rite Aid will chop its share count by about 95% in a bid to push the remaining shares above minimum trading requirements on the New York Stock Exchange. The board of the struggling drugstore chain approved a 1-for-20 ratio for a reverse stock split after shareholders backed the plan last month. The drugstore chain said Wednesday after markets closed that on April 22, its shares will start trading on a split-adjusted basis.
Rite Aid announced plans sell CBD products in more than 200 of its drugstores across Washington State and Oregon. Yahoo Finance's Brian Cheung, Jared Blikre and Ines Ferre join Seana Smith on 'The Ticker' to discuss the news.
Measles outbreak has reached its second highest level in 20 years, according to the CDC, and it's costing the health care system money. Yahoo Finance's Zack Guzman and Kristin Myers are joined by Glenn Hall, Dow Jones Newswire Global Chief Editor, to discuss.
Former FDA Commissioner Scott Gottlieb sits down with 'Power Lunch' to discuss the concern about marijuana entering general society, e-cigarette sales and the measles outbreak in America.