61.20 -0.14 (-0.23%)
After hours: 7:50PM EST
|Bid||61.01 x 1300|
|Ask||61.30 x 3000|
|Day's Range||60.69 - 61.53|
|52 Week Range||49.03 - 86.31|
|Beta (3Y Monthly)||0.87|
|PE Ratio (TTM)||14.23|
|Earnings Date||Dec 18, 2019 - Dec 23, 2019|
|Forward Dividend & Yield||1.83 (2.95%)|
|1y Target Est||56.95|
In the latest trading session, Walgreens Boots Alliance (WBA) closed at $61.45, marking a -0.79% move from the previous day.
Mizuho analyst Ann Hynes raised the potential takeout range to $64-$71 per share, up from an initial analysis projecting $60-$67 per share. Hynes has a Neutral rating on Walgreens with a $59 price target.
The poster, who identified himself as David and declined to give his last name, told MarketWatch that he vented his frustrations on Reddit before going to bed on Thursday night because he was tired of seeing rave reviews from tech enthusiasts online that overlooked the fact that the Apple Card was “missing the basic functionality” of many other cards. David’s comments come three months after Apple’s hotly anticipated laser-etched, titanium card back by Goldman Sachs (GS) hit the market.
DOW UPDATE Shares of Home Depot and Dow Inc. are trading lower Tuesday morning, sending the Dow Jones Industrial Average into negative territory. The Dow (DJIA) was most recently trading 77 points lower (-0.
Over Next 5 Years, Walgreens Hopes to Provide 50 Million More Vaccines Through Get a Shot. Walgreens and the United Nations Foundation’s Shot@Life campaign announced today that the Walgreens Get a Shot. Also today, Walgreens said it hopes to provide 50 million additional vaccines by 2023.
The Dow Jones Industrial Average finished Friday above 28000 for the first time ever. Here are the top 5 winning stocks in the Dow from this week.
Private equity firms are flush with cash, which means they have to spend it. Walgreens is being targeted by KKR. Barron’s has a few ideas about how to identify who could be in the PE crosshairs next.
DOW UPDATE Powered by positive gains for shares of Walgreens Boots and Intel, the Dow Jones Industrial Average is climbing Friday morning. The Dow (DJIA) was most recently trading 105 points, or 0.4%, higher, as shares of Walgreens Boots (WBA) and Intel (INTC) have contributed to the index's intraday rally.
Here are three highly-ranked REITs we found using our Zacks Stock Screener that dividend investors might want to buy with stock indexes at new highs...
Pharmacy retail chain Walgreens Boots Alliance Inc (NASDAQ: WBA ) closed Wednesday at a valuation of $55 billion, but it could be worth $85 billion under a leveraged buyout, according to Fox Business. ...
Albeit the market sentiment is bullish on Walgreens Boots' (WBA) potential acquisition deal, many analysts are in doubt about the company's effective approach to get privatized.
Retail investors who rely on publicly traded stocks are increasingly missing out on lucrative and secretive private markets.
In the latest trading session, Walgreens Boots Alliance (WBA) closed at $62.25, marking a -0.75% move from the previous day.
(Bloomberg) -- One of the private equity industry’s titans called it a “stretch,” and it’s been dismissed as a pipe dream by a bevy of analysts.Yet interviews in recent days with debt-market specialists suggest that KKR & Co. could find a narrow path to finance what would be the biggest leveraged buyout in history: a potential take-private deal for pharmacy chain Walgreens Boots Alliance Inc. that analysts have estimated would need to be funded with at least $50 billion of debt.The challenge for any Walgreens suitor will be raising the necessary money via the markets of choice for private equity firms -- junk-rated loans and bonds -- which have become fragile after an unprecedented borrowing binge left investors with a hangover. Debt funds that financed more than $3.5 trillion of leveraged buyouts in the past decade have become pickier, leaving banks stuck holding more than $2 billion of unsold loans on their balance sheets as recently as last month.But a road map may be hidden in two other recent debt-fueled takeovers: Dell Technologies Inc.’s $67 billion takeover of EMC Corp. in 2016 and Charter Communications Inc.’s $78.7 billion acquisition of Time Warner Cable Inc. that same year.Representatives for KKR and Walgreens declined to comment.Buyout BlueprintJunk-rated Dell and Charter both borrowed heavily in the investment-grade bond market by issuing secured debt. T-Mobile US Inc. is going down a similar route to help pay for its purchase of Sprint Corp.In Charter’s case, it pledged security to new and existing bonds issued by higher-rated Time Warner to ensure the debt remained investment-grade. Dell used a similar strategy when it bought investment-grade rated EMC. Walgreens’s debt could be segregated into two borrowing structures at a holding company level and an operating company portion, with investment-grade debt placed on the latter.In doing so, Dell and Charter won access to the most stable part of the corporate debt market, where investors are still buying heavily as an alternative to low or negative-yielding assets elsewhere. At the same time, they limited their reliance on leveraged finance markets, where sentiment can shift quickly and prove costly.Both companies did tap those markets, but with more manageable offerings. Bankers who asked not to be identified estimated that Walgreens would be able to raise between $10 billion and $20 billion of junk-rated debt to fund a buyout.Other market participants, who asked not to be named because they weren’t authorized to speak publicly, said KKR still might need to find a deep-pocketed third-party investor to help put more equity into the deal.Or it may seek to spin off a portion of Walgreens to lessen its financing needs. The company’s European operations could potentially bring in $18 billion to $20 billion, CreditSights analyst James Goldstein said in a phone interview.\--With assistance from Nabila Ahmed and Robert Langreth.To contact the reporters on this story: Natalie Harrison in New York at email@example.com;Lisa Lee in New York at firstname.lastname@example.org;Davide Scigliuzzo in New York at email@example.comTo contact the editors responsible for this story: Shannon D. Harrington at firstname.lastname@example.org, Boris KorbyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
In what may prove to be a positive sign, stocks were mostly flat Tuesday, even after President Trump threatened to raise tariffs on Chinese imports if the two countries cannot finalize Phase 1 of a trade agreement.Source: Finviz * The S&P 500 moved higher by 0.16%. * The Dow Jones Industrial Average ended the day flat. * The Nasdaq Composite inched higher by 0.26%. * Disney stock was a top performer on the Dow Jones today, climbing 1.3% on Disney+ debut.The president made those remarks today in a speech before the Economic Club of New York, promising that trade levies will "be raised very substantially" if the world's two largest economies cannot ratify a previously agreed initial step in broader trade talks.The two countries were scheduled to sign that agreement this month at a conference in Chile, but that event was canceled due to geopolitical demonstrations there.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Great High-Yield Stocks With Payouts Over 5% "A new site for the signing hasn't been announced. U.S. locations for the meeting that had been proposed by the White House have been ruled out, according to a person familiar with the matter," reports Bloomberg. "Locations in Asia and Europe are now being considered instead, the person said, asking not to be identified because the discussions aren't public."Even against the backdrop of Trump's harsh language aimed at China, 12 of the Dow Jones's 30 constituents were higher in late trading. Strong DebutToday marks the launch of the Disney+ streaming service from Dow component Disney (NYSE:DIS), an oft-cited potential catalyst for the already strong stock. Shares of Disney added 1.3%, making the stock the best-performing member of the Dow."Not everything is going smoothly for Disney+, though. Users are experiencing service outages and slowdowns with many reports of technical problems flooding social media," reports Barron's. "Disney said higher-than-expected demand for the service is playing a part in the technical issues."Even with those first day issues, Disney shares closed higher. Now comes the fun part for investors: waiting to see just how much Disney + contributes to the company's top and bottom lines. Waiting On WalmartAs I've been mentioning over the past couple of days, Walmart (NYSE:WMT) is one of the Dow components reporting earnings this week (Thursday), but some analysts are talking about the stock in advance of that report. Specifically, Cowen analyst Oliver Chen was out today discussing how the holiday shopping season is shaping up for Walmart and rival Target (NYSE:TGT).Recent consumer data "suggest an uptick in concern over future economic uncertainty year over year, which could lead to lower absolute spending levels, plus higher promotions to entice shoppers," wrote the Cowen analyst. "With this caution in mind, we favor value-oriented stocks this holiday, and believe that the environment is favorable for value momentum to continue at both Walmart and Target."Shares of Walmart, the largest domestic retailer, closed slightly lower today. Watching WalgreensWalgreens Boots Alliance (NASDAQ:WBA) added to recent gains, closing higher by 0.82% today, extending momentum accrued on the back of chatter about a potentially massive leveraged buyout offer from private equity firm KKR.A deal hasn't been formally announced and there are no guarantees it will be because, as Barron's points out, the math may ultimately prove unattractive to would be Walgreens suitors."At $77.50, Walgreens would be valued at $70 billion," according to Barron's. "It has $16 billion of net debt, which would give it an enterprise value of $86 billion in this LBO scenario. Its annual earnings before interest, taxes, depreciation and amortization, or Ebitda, are around $8 billion." * 7 Biotech Stocks to Buy With Plenty of Power in the Pipeline Bottom Line on the Dow Jones TodayTuesday's gains for the Nasdaq and S&P 500 were far from eye-popping, but as noted above, when factoring in President Trump's trade rhetoric, today's state of affairs in the markets was decent.The major U.S. equity benchmarks continue hovering near record highs and a lot of that has to do with strength in technology and other growth fare. While there has been some talk about a value-to-growth rotation, growth stocks still remain compelling."What's particularly exciting about growth investing today is that, for the first time, we've been in an economic environment without a traditional business cycle," said BlackRock in a recent note. "And this means investors will seek out companies that prosper organically on their own, almost independent of the economic cycle. I think this will be a good sign for growth stocks overall, not only today but for years to come."As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Great High-Yield Stocks With Payouts Over 5% * 10 Blue-Chip Stocks to Buy for the End of the Year * 5 Retail Stocks Getting Nothing but Coal This Holiday Season The post Dow Jones Today: Stocks Didn't Move Much Despite Trade Developments appeared first on InvestorPlace.
Long-time traders have a saying: “Buy the rumor; sell the fact.” But with the ongoing trade war between the U.S. and China, it’s been hard to distinguish the two. Over the last 18 months there’s been at times plenty of buying and selling pressure, sometimes on rumor, sometimes on what looks like concrete progress. Although an easing of trade tensions is one of the reasons that has helped lift stocks to records recently, a much-discussed partial deal has yet to be signed.
to acquire Walgreens Boots Alliance sets up a test for debt markets, where a tide of cash has sent borrowing costs lower but investors have worried about risky deals. Raising enough debt to fund a similar leveraged buyout of the $70bn Walgreens business presents a challenge that “would be overwhelming”, said David Norris, head of US credit at TwentyFour Asset Management. Much would depend on whether Walgreens could retain an investment-grade rating for at least part of the debt, gaining access to the $8tn investment-grade bond market, which some analysts believe is essential for capital-raising on this scale.
(Bloomberg) -- KKR & Co. has formally approached drugstore giant Walgreens Boots Alliance Inc. about a deal to take the company private, in what could be the biggest-ever leveraged buyout, people familiar with the matter said.The New York-based private equity firm has been preparing a proposal to potentially buy out shareholders of Walgreens Boots, said the people, who asked not to be identified because discussions are private. It’s unclear how feasible the transaction would be, given the need for large amounts of financing, and Walgreens Boots and KKR could decide against pursuing a deal, the people said.Walgreens Boots shares closed 5% higher to $62.25 on Monday in New York. Its bonds in Europe fell.Walgreens Boots, led by Chief Executive Officer Stefano Pessina, has been reviewing a potential deal with a financial adviser to take the company private amid buyout interest, Bloomberg News reported last week. Some buyout firms looked but decided against pursuing such a big deal, people with knowledge of the matter said at the time.There’s no certainty the deliberations will lead to a definitive takeover offer, the people said. Representatives for Walgreens Boots and KKR declined to comment.Record BuyoutDeerfield, Illinois-based Walgreens Boots has a market value of about $56 billion and $16.8 billion of debt. At that size, a take-private of the company would top the largest leveraged buyout in history: the 2007 sale of utility TXU Corp. to KKR and TPG, which was worth about $45 billion including debt, according to data compiled by Bloomberg.This wouldn’t be Pessina’s first ambitious private equity deal with KKR. Pessina partnered with the buyout firm to acquire Alliance Boots in 2007.That deal came at the height of the buyout boom and underscored the challenges of financing jumbo take-privates, as banks struggled at the time to find buyers for the loans to pay for that deal. But it was lucrative for KKR. By the time it exited the company more than nine years later, the firm generated about $7 billion for fund investors on an investment of $2.1 billion, Chief Financial Officer Bill Janetschek said in 2017.This time, a deal would require Walgreens Boots to sell some $55 billion of debt, according to CreditSights Inc. estimates. If raised in the junk markets, that would amount to the biggest such sale ever.The money would have to come from markets where banks have struggled in recent months to find buyers for riskier, leveraged buyout loans, as investors weigh the risks of lending at the peak of a record-long credit boom.It’s a tough time do such a large deal, according to Stephen Schwarzman, head of the Blackstone Group Inc., one of the world’s largest private equity firms.“It might be possible,” Schwarzman said last week at a Reuters Newsmaker event in New York. “It’s a huge stretch doing things over $50 billion.”Under PressurePessina, 78, took his current role after Walgreen Co. acquired the part of Alliance Boots that it didn’t already own for about $15.3 billion in 2014. The company’s businesses range from established retail chains in the U.S. and Europe to the lesser-known pharmacy supplier Alliance. He owns a 16% stake in Walgreens Boots, according to data compiled by Bloomberg.A buyout would give Walgreens Boots time to adapt to a fast-changing retail landscape, free from the quarter-by-quarter demands of public shareholders.The company is under immense pressure from online competitors including Amazon.com Inc., that have chipped away at sales of household and beauty items. While top rival CVS Health Corp. has grown into a vertically integrated health-care giant, Walgreens Boots has doubled down on shops, announcing pilot partnerships with retailers including grocer Kroger Co.Walgreens Boots is the largest retail pharmacy in the U.S. and Europe, with more than 18,750 stores in 11 countries, according to its most recent annual report. Its wholesale arm has more than 400 distribution centers that deliver to more than 240,000 pharmacies, doctors, health centers and hospitals. It operates Walgreens and Duane Reade stores in the U.S. and Boots outlets in Europe and Asia. Three-quarters of its revenue stems from the U.S. pharmacy business.The company had sought to buy rival Rite Aid Corp. In 2017, the companies scrapped the merger amid regulators’ concerns that it would hurt competition in the U.S. drugstore market. Walgreens Boots instead bought roughly 2,000 stores from Rite Aid.(Updates share price in third paragraph, adds additional detail in eighth paragraph.)\--With assistance from Robert Langreth, Kiel Porter and Nabila Ahmed.To contact the reporters on this story: Ed Hammond in New York at email@example.com;Aaron Kirchfeld in London at firstname.lastname@example.org;Dinesh Nair in London at email@example.comTo contact the editors responsible for this story: Ben Scent at firstname.lastname@example.org, ;Daniel Hauck at email@example.com, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
After slumping earlier in Monday's session, the Dow Jones Industrial Average stormed back to notch a modest gain of 0.03% to start the week. That's not spectacular, but it's also decent considering where the blue-chip index started the day and the sheer amount of Dow-related headlines there were for market participants to digest today.Source: Finviz Broadly speaking, it was another slow day as investors waited on more concrete news regarding the ongoing U.S.-China trade saga. Tomorrow could be significant on the trade front because President Trump is slated to deliver remarks before the New York Economic Club.It's expected that the president's prepared remarks will revolve around the strength of the economy and equity markets since he took office. It's also expected that he might take some jabs Fed Chairman Jerome Powell and some of the contenders for the 2020 Democratic presidential nomination. However, President Trump is known to go off script from time-to-time, so there are potential risks or rewards that come along with Tuesday's speech.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Large-Cap Stocks to Give a Wide Berth Focusing on Monday, the Nasdaq Composite lost 0.13%, while the S&P 500 settled lower by just 0.20%. In late trading, just nine of the Dow's 30 components were residing higher. Walgreens OfferWalgreens Boot Alliance (NASDAQ:WBA) has recently been making frequent appearances in this space amid speculation the pharmacy chain could be the target of a massive leveraged buyout offer.The rumors proved accurate as Walgreens stock surged 5% today on news that private equity giant KKR & Co. has approached the company about going private. Based on Walgreens' enterprise value (market capitalization plus debt), the pharmacy operator is worth nearly $73 billion, easily making this the largest leveraged buyout on record."The New York-based private equity firm has been preparing a proposal to potentially buy out shareholders of Walgreens Boots," reports Bloomberg, citing unidentified sources familiar with the matter. "It's unclear how feasible the transaction would be, given the need for large amounts of financing, and Walgreens Boots and KKR could decide against pursuing a deal, the people said." Boeing BounceWhile Walgreens surged, it wasn't the Dow's best-performing name today. That honor goes to the index's largest component: Boeing (NYSE:BA).The aerospace giant advanced by 4.5% on reports that the controversial 737 MAX jet could resume commercial flights in January. That's slightly later than the 2019 year end forecast investors were hoping would come to fruition, but January isn't bad all things considered.The company said it expects the Federal Aviation Administration (FAA) will issue an official order next week approving the 737 MAX's return to the skies.According to Reuters, Boeing spokesman Gordon Johndroe stated the company "expect[s] the Max to be certified, airworthiness directive issued, ungrounded in mid-December. We expect pilot training requirements to be approved in January." Controversial HeadlinesApple (NASDAQ:AAPL) did what it usually does and that's close higher despite some controversy surrounding the Apple card. Goldman Sachs (NYSE:GS), the issuing bank behind that new credit card, sank 1.7%, incurring the brunt of that controversy amid media and social media reports that the bank's decision-making algorithm for the card shows signs of bias.Last Friday, a software developer took to Twitter to say he was offered 20-times the credit limit on the Apple same card as his wife. Apple co-founder Steve Wozniak said his Apple card limit is 10-times his wife's and he's urging federal action to get bias out of the approval/credit limit process.Goldman was one of seven Dow stocks that lost close to or more than 1% today. * 7 5G Stocks to Connect Your Portfolio To Bottom Line on the Dow Jones TodayAs I noted last Friday, Cisco Systems (NASDAQ:CSCO) and Walmart (NYSE:WMT) are the Dow members reporting earnings this week on Wednesday and Thursday, respectively. Investors should hope for positive surprises to get those stocks going. Not surprisingly, data confirm that upbeat earnings surprises are important contributors to stocks' near-term price action."Companies in the S&P 500 that have reported positive earnings surprises for Q3 have seen an increase in price of 2.3% on average from two days before the company reported actual results through two days after the company reported actual results," according to FactSet research. "Over the past five years, companies in the S&P 500 that have reported positive earnings surprises have witnessed a 1.0% increase in price on average during this four-day window. Thus, the market is rewarding positive EPS surprises more than average during the Q3 2019 earnings season."As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Large-Cap Stocks to Give a Wide Berth * 7 Potential New Stocks That Should Not Go Public * 5 Chinese Stocks to Buy Surging Higher The post Dow Jones Today: There Were Too Many Headlines to Digest appeared first on InvestorPlace.
Walgreens Boots Alliance stock gapped up after KKR reportedly made a formal offer to take the Dow Jones giant private.