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RAD

Rite Aid

$1.85

-0.06 (-3.15%)

, WBA

Walgreens Boots Alliance

$67.23

0.27 (0.40%)

08:52
08/06/18
08/06
08:52
08/06/18
08:52

Rite Aid cuts FY adjusted EPS view to (4c)-0c from 2c-6c, consensus 3c

Rite Aid (RAD) announced that it is updating its fiscal 2019 outlook, which the company initially provided on April 12, 2018 and included expectations for sales, same store sales, Adjusted EBITDA, net loss, Adjusted net income per share, and capital expenditures. As previously disclosed, Rite Aid's outlook is based on a number of factors, including, but not limited to, the benefits from an anticipated reimbursement rate environment that is more stable than the prior year, fees under the Transition Services Agreement with Walgreens Boots Alliance (WBA), generic drug purchasing efficiencies, and other initiatives to grow sales and drive operational efficiencies. Rite Aid's fiscal 2019 outlook does not reflect the impact of the proposed merger with Albertsons Companies. Based upon recent generic drug bid activity and on anticipated generic drug market conditions for the balance of the year, generic drug purchasing efficiencies are expected to be significantly below Rite Aid's previous experience and will not meet the company's expectations for the year. The company now expects generic drug purchasing efficiencies to be approximately $80 million less than when Rite Aid established its fiscal 2019 outlook. As a result, Rite Aid is updating its outlook for Adjusted EBITDA, net loss and Adjusted net loss per diluted share as follows: Adjusted EBITDA is now expected to be in a range between $540 million and $590 million, updated from the previously disclosed range of between $615 million and $675 million; Adjusted net loss per diluted share is now expected to be in a range of $(0.04) and $(0.00), updated from the previously disclosed Adjusted net income per diluted share range of between $0.02 and $0.06. The company's outlook for sales and same store sales remains unchanged as sales, prescription count growth and pharmacy reimbursement rates continue to be in line with expectations. The expectation for capital expenditures also remains unchanged.

RAD

Rite Aid

$1.85

-0.06 (-3.15%)

WBA

Walgreens Boots Alliance

$67.23

0.27 (0.40%)

  • 09

    Aug

RAD Rite Aid
$1.85

-0.06 (-3.15%)

04/17/18
MZHO
04/17/18
NO CHANGE
MZHO
Amazon news removes 'unprecedented overhang' on drug sellers, says Mizuho
After CNBC reported yesterday afternoon that Amazon (AMZN) has decided to shelve its plan to sell and distribute pharmaceutical products, Mizuho analyst Ann Hynes said she had thought Amazon's current logistics and distribution model would not translate into healthcare. However, based on conversations with investors, she believes the magnitude of the overhang that Amazon presented for drug distributors and retail pharmacies was "unprecedented." While drug pricing is still a concern, she notes that the CNBC report removes one overhang on the drug supply chain stocks. Hynes remain a buyer of CVS Health (CVS) and Walgreens (WBA) and keeps Neutral ratings on Rite Aid (RAD) as well as on drug distributors AmerisourceBergen (ABC), Cardinal Health (CAH) and McKesson (MCK).
04/30/18
LOOP
04/30/18
NO CHANGE
Target $4
LOOP
Hold
Fred's CEO resignation 'fire but no sale,' says Loop Capital
In a research note titled "CEO resigns - Fire but no sale," Loop Capital analyst Andrew Wolf notes that Fred's (FRED) has announced the resignation of Chief Executive Officer Michael Bloom, effective as of April 24, 2018. Joseph Anto, Fred's Executive Vice President and Chief Financial Officer, will serve as Interim Chief Executive Officer. Additionally, the analyst points out that Alden Capital owns 24% of Fred's shares and its President, Heath Freeman, is now Chairman of the Board of Fred's. According to Freeman in a press release, "After the Company was not able to purchase certain assets from the Rite Aid Corporation (RAD)...the timing was right, both for Mike [Bloom] and the Company, for him to step down." Wolf reiterates a Hold rating and $4 price target on Fred's shares.
06/28/18
BARD
06/28/18
NO CHANGE
BARD
Outperform
Amazon creates another competitive advantage with PillPack, says Baird
Baird analyst Colin Sebastian believes Amazon.com's (AMZN) acquisition of PillPack creates a formidable competitor to brick-and-mortar pharmacy peers. Shares of CVS Health (CVS), Walgreens Boots Alliance (WBA) and Rite Aid (RAD) are trading lower following the news. PillPack provides a full-service online pharmacy experience and delivers medication in pre-sorted dose packaging for customers across the U.S., Sebastian tells investors in a research note. The deal creates another competitive advantage over competing e-commerce platforms as Amazon seeks to integrate its pharmacy business with other verticals with high purchase frequency like grocery, the analyst adds. Amazon this morning also announced the expansion of Delivery Partners, a service enabling individuals to build small parcel delivery businesses in support of Amazon's e-commerce growth. Sebastian thinks the delivery service partner initiative represents an important step in last-mile delivery, particularly as customer demand for two-hour delivery increases with the increasing adoption of Prime Now. The analyst has an Outperform rating on Amazon.com with a $1,800 price target.
06/28/18
JPMS
06/28/18
NO CHANGE
JPMS
Amazon deal creates significant overhang on Rx channel sentiment, says JPMorgan
JPMorgan Analyst Lisa Gill said Amazon's (AMZN) agreement to acquire PillPack is expected to drive a "significant overhang" on sentiment across the prescription channel, even though she doesn't expect PillPack to capture a material share of the market in the near term. While the deal establishes an initial foothold for Amazon in the mail pharmacy space, she thinks it will take time to scale up and she does not believe PillPack's unit dose packaging technology is unique. Gill also noted that Express Scripts (ESRX) said it would remove PillPack from its pharmacy network in 2016 on allegations it had misrepresented itself as a retail pharmacy and not a mail pharmacy, though within weeks PillPack was added back by the PBM. Shares of retail pharmacy operators CVS Health (CVS), Walgreens (WBA) and Rite Aid (RAD) have all been pressured by the news of Amazon's deal, as have the shares of drug distributors AmerisourceBergen (ABC), Cardinal Health (CAH) and McKesson (MCK). Diplomat Pharmacy (DPLO), an operator of a specialty pharmacy, is also sharply lower following the announcement from Amazon.
WBA Walgreens Boots Alliance
$67.23

0.27 (0.40%)

07/10/18
07/10/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Walgreens Boots Alliance (WBA) downgraded to In Line from Outperform at Evercore ISI. 2. Chipotle (CMG) downgraded to Underperform from Neutral at Mizuho with analyst Jeremy Scott saying after an 80% rally since the new CEO appointment, Chipotle shares currently price in an "aggressive recovery" in both comps and margins. 3. Biogen (BIIB) downgraded to Neutral from Outperform at Baird with analyst Brian Skorney saying that following a quick ~35% move since his April upgrade, he is taking his gains off the table on the back of the BAN2401 results. 4. eBay (EBAY) downgraded to Hold from Buy at SunTrust with analyst Youssef Squali citing the anticipated impact of the recent U.S. Supreme Court decision that forces collection of online sales tax on a state level and reverses the 1992 e-commerce precedent. 5. Square (SQ) assumed and downgraded to a Hold from Buy at Jefferies and a Perform from Outperform at Oppenheimer. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/23/18
COWN
07/23/18
DOWNGRADE
COWN
Market Perform
Walgreens Boots Alliance downgraded to Market Perform from Outperform at Cowen
07/23/18
COWN
07/23/18
DOWNGRADE
Target $71
COWN
Market Perform
Walgreens Boots Alliance downgraded to Market Perform at Cowen
As reported previously, Cowen analyst Charles Ryhee downgraded Walgreens Boots Alliance to Market Perform from Outperform. The analyst views it as poorly positioned in the move toward value-based care and believes the ownership of, rather than a partnership with, an insurance company is necessary to realize the benefits of cost trend improvements. Ryhee lowered his price target to $71 from $77 on Walgreen's Boots Alliance shares.
07/23/18
07/23/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Papa John's (PZZA) downgraded to Sell from Hold at Stifel with analyst Chris O'Cull saying the outlook for Papa John's is "growing dimmer" after recent media reports indicated a "fraternal corporate culture." 2. Buckeye Partners (BPL) downgraded to Sell from Hold at SunTrust with analyst Tristan Richardson saying the latest negative action by Moody's was "quicker than expected" and may lead to a cut in the company's distribution. 3. Walgreens Boots Alliance (WBA) downgraded to Market Perform from Outperform at Cowen with analyst Charles Ryhee saying he views it as poorly positioned in the move toward value-based care and believes the ownership of, rather than a partnership with, an insurance company is necessary to realize the benefits of cost trend improvements. 4. General Electric (GE) downgraded to Hold from Buy at Argus with analyst John Eade saying that despite his expectations of a turnaround, Q2 results were a "step in the opposite direction" suggesting the company will struggle to meet its FY18 guidance. 5. Philip Morris (PM) downgraded to Hold from Buy at Societe Generale. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

YEXT

Yext

$23.00

0.33 (1.46%)

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Syndicate
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WU

Western Union

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MYL

Mylan

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0.09 (0.32%)

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ATVI

Activision Blizzard

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BA

Boeing

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GPX

GP Strategies

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MIK

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$11.79

0.11 (0.94%)

, DSW

DSW

$25.30

-0.09 (-0.35%)

20:25
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Earnings
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MIK

Michaels

$11.79

0.11 (0.94%)

DSW

DSW

$25.30

-0.09 (-0.35%)

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$43.09

0.09 (0.21%)

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NVDA

Nvidia

$168.91

-0.99 (-0.58%)

, AMZN

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$1,742.00

29.29 (1.71%)

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Nvidia

$168.91

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AMZN

Amazon.com

$1,742.00

29.29 (1.71%)

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MEOH

Methanex

$57.22

1.68 (3.02%)

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HDS

HD Supply

$43.09

0.09 (0.21%)

19:55
03/18/19
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Earnings
HD Supply sees FY19 EPS $3.52-$3.81, consensus $3.64 »

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HDS

HD Supply

$43.09

0.09 (0.21%)

19:53
03/18/19
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19:53
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19:53
Earnings
HD Supply sees Q1 EPS 75c-84c, consensus 85c »

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HDS

HD Supply

$43.09

0.09 (0.21%)

19:52
03/18/19
03/18
19:52
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19:52
Earnings
HD Supply reports Q4 adjusted EPS 70c, consensus 67c »

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CASA

Casa Systems

$8.89

-0.06 (-0.67%)

19:47
03/18/19
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Initiation
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CCI

Crown Castle

$124.67

-0.41 (-0.33%)

19:46
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Downgrade
Crown Castle rating change at Deutsche Bank »

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ARPO

Aerpio Pharmaceuticals

$1.22

-2.915 (-70.58%)

19:39
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Downgrade
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LIVX

LiveXLive Media

$6.30

0.19 (3.11%)

19:37
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AKBA

Akebia

$8.19

0.01 (0.12%)

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VALE

Vale

$13.28

0.11 (0.84%)

19:18
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Periodicals
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TROX

Tronox

$12.09

0.2 (1.68%)

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HYMTF

Hyundai Motor

$0.00

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SYNH

Syneos Health

$47.42

0.49 (1.04%)

, TLRY

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AMRS

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FOE

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REV

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AKBA

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TORC

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TACO

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HQY

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Yext

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WAGE

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TWO

Two Harbors

$14.26

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AGS

PlayAGS

$25.65

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AAPL

Apple

$188.03

1.83 (0.98%)

18:52
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Periodicals
Apple stops iOS 12.1.3 code signing after iOS 12.1.4 launch, AppleInsider says »

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WP

Worldpay

$108.52

9.8 (9.93%)

, FIS

FIS

$108.14

-0.73 (-0.67%)

18:41
03/18/19
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18:41
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18:41
Downgrade
Worldpay, FIS rating change at BMO Capital »

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WP

Worldpay

$108.52

9.8 (9.93%)

FIS

FIS

$108.14

-0.73 (-0.67%)

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ERIC

Ericsson

$9.56

-0.075 (-0.78%)

18:32
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Ericsson selected by TDC to roll out commercial 5G in Denmark »

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