NEW YORK, NY / ACCESSWIRE / April 17, 2018 / Shares of Walgreens and Rite Aid saw gains on Monday after reports emerged that Amazon has shelved its plans to sell prescription drugs to doctors and hospitals. Shares of CVS also soared on the news.

RDI Initiates Coverage on:

Walgreens Boots Alliance, Inc.
https://rdinvesting.com/news/?ticker=WBA

Rite Aid Corporation
https://rdinvesting.com/news/?ticker=RAD

Walgreens Boots Alliance, Inc. shares closed up 3.76% on about 9.0 million shares traded. Walgreens was one among many pharma retailers to see gains after reports revealed on Monday that Amazon has shelved its plan to sell prescription drugs to hospitals and doctors. CNBC, citing sources familiar with the matter, reported that the e-commerce giant has paused a plan that involved Amazon Business, a service that sells bulk items to business customers. A spokesperson from Amazon refused to comment to MarketWatch and said that the company's policy is to not comment on "rumors of speculation."

Access RDI's Walgreens Boots Alliance, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=WBA

Rite Aid Corporation shares closed up 1.79% on Monday with about 27 million shares traded. It was last week that the drug store chain announced better than expected results on the bottom line for the fourth quarter fiscal 2018. For the fourth quarter, Rite Aid reported loss per share of one penny. This was in line with what analysts had been waiting for but was a drop from the 2 cents EPS it reported in the year ago period. Revenue was $5.39 billion for the quarter which was below the analyst expectation of $5.57 billion and worse than the $5.90 billion it reported in the same period a year ago. Looking ahead, Rite Aid said it is expecting earnings per share for fiscal 2019 to range from 2 cents to 6 cents, while analysts are expecting earnings per share of 3 cents. It was at the end of last month that the company completed its transfer of 1,932 stores and related assets to Walgreens for a total of $4.157 billion. Three distribution centers and related inventory are expected to be transferred starting September 1st, 2018. In the last three months shares of Rite Aid have seen a loss of over 20%.

Access RDI's Rite Aid Corporation Research Report at:
https://rdinvesting.com/news/?ticker=RAD

Our Actionable Research on Walgreens Boots Alliance, Inc. (NASDAQ: WBA) and Rite Aid Corporation (NYSE: RAD) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com