Markets

Pharmacy stocks are getting Amazon’d as the consumer giant pushes into online prescriptions — and CVS and Walgreens are tanking

Amazon’s launch of its own digital pharmacy on Tuesday sent rival pharmacy stocks reeling, with CVS, Walgreens, and Rite-Aid each falling more than 8%. Amazon first entered the pharmacy business in 2018 with its $US753 million acquisition of PillPack, which signalled to investors that Amazon’s interest in offering prescription medicines […]
Pharmacy stocks are getting Amazon’d as the consumer giant pushes into online prescriptions — and CVS and Walgreens are tanking
Markets

Walgreens freezes share buybacks after posting $1.7 billion 3rd-quarter loss

Walgreens halted its share buyback program and said it plans to cut 4,000 jobs after reporting worse-than-expected third-quarter figures. The drugstore giant lost $US1.95 per share over the period, or $US1.71 billion overall. The company’s Boots UK division saw same-store sales nosedive 48% over the period as quarantine orders “compelled […]
Walgreens freezes share buybacks after posting $1.7 billion 3rd-quarter loss
Markets

US pharmacy stocks are getting slammed after Amazon buys PillPack

Amazon is buying online pharmacy PillPack, and the main pharmacy stocks are getting whacked. Walgreens had an encouraging quarter, which included a dividend hike and share buyback program, and it’s still getting crushed. Watch Walgreens,CVS, and Rite Aid trade here. Amazon is buying online pharmacy PillPack, and pharmaceutical stocks are […]
US pharmacy stocks are getting slammed after Amazon buys PillPack
Markets

General Electric sinks after being booted from the Dow

General Electric will be replaced by Wallgreens Boots Alliance in the Dow Jones Industrial Average. Shares of embattled GE fell about 1.6% overnight following the announcement, while Walgreens rose 3%. The change will make the index more representative of the economy, S&P Dow Jones Indices said. Follow GE’s stock price […]
General Electric sinks after being booted from the Dow