Drug Retail

Barron’s interviewed Kevin Duffy and Bill Laggner, hedge fund managers with Bearing Asset Management. They predicted housing and credit excesses and profited on their forecasts by shorting Freddie Mac, Fannie Mae, money-center banks and mortgage insurers. Both of them are contrarians and believe...

Argus reiterated a Buy rating on Walgreen Company (NYSE: WAG) and maintained a price target of $43. The firm said, “We like Walgreen's business and prospects for steady cash-flow generation, and are encouraged that management is working hard to control costs. We also think that a slower pace of...

In a recently released report, Morgan Stanley has changed its estimates for Walgreens (NYSE: WAG) although Walgreens has posted its EPS guidance for Q1Y10 at $0.49, which is a cent above the market consensus of $0.48. Walgreens management has put an extra emphasis on drivers of SG&A. According...

Citi Investment and Research Analysis (NYSE: C) gave a sell rating for the Chicago based Walgreen Co (NYSE: WAG). Analysts at Citi have set a price target of $31 for Walgreen Co, based on forward price-to-earnings (P/E) and discounted cash flow (DCF) analyses. Analysts have applied a target...

CVS Caremark (NYSE: CVS) has announced a new PBM President in Per Lofberg and Morgan Stanley (NYSE: MS) expects share prices to react positively to this news. Lofberg has over 30 years of relevant experience, including at Medco (NYSE: MHS) which was spun off by Merck (NYSE: MRK). In addition, the...

Goldman Sachs reiterated a Buy rating on Express Scripts Inc. (NASDAQ: ESRX) calling it the top pick of the sector and forecasts a visible 29% 3-year EPS CAGR. According to Goldman Sachs, the near final version of the health reform bill made no mention of an excise tax on the Pharmacy Benefit...

• Pfizer (NYSE:PFE) purchased rights to Athersys' (NASDAQ:ATHX) stem-cell therapy for treatment of inflammatory bowel disease • Terex (NYSE:TEX) plans to sell its mining business for $1.3 billion in cash to Bucyrus International (NASDAQ:BUCY) • Sanofi-Aventis (NYSE:SNY) said it agreed to buy...

American International Group, Inc. (NYSE: AIG) CEO Robert Benmosche, today said that AIG needs at least two years to repay the aid it received from the government. AIG is currently trading at $28.18, decreased by 0.04%. The 52-week trading range for AIG is $6.60 - $55.90. In the last trading...

Conagra Foods, Inc. (NYSE: CAG) is expected to report fiscal second-quarter earnings of 47 cents a share on revenue of $3.33 billion. Friday, CAG closed at $22.16. Walgreen Company (NYSE: WAG) is projected to report fiscal first-quarter earnings of 48 cents a share on $16.30 billion of revenues. In...

Analysts at Lazard Capital Markets initiates coverage on CVS Caremark Corporation (NYSE: CVS) with a “Buy” rating. The price target is set to $37. Lazard says “While the contract is a modest one relative to overall PBM revenue, the risk-reward is positive (a loss would be 1/3 of the business, a win...

Rite Aid Corporation (NYSE: RAD)(FREE stock trend analysis) narrows the fiscal 2010 outlook. The third quarter net loss is $.10 per diluted share compared to the net loss of $.30 per diluted share in the prior third quarter. The adjusted EBITDA is $254.2 million compared to the adjusted EBITDA of...

Rite Aid Corporation (NYSE: RAD)(FREE stock trend analysis) reported a sharp recovery in the third quarter. During the quarter, Rite Aid reported a loss of $83.9 million, or 10 cents a share, compared to a loss of $243.1 million, or 30 cents, in the year-ago period. This is higher than the analyst...