Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Why Walgreens Boots Alliance Stock Is Skyrocketing Today

Source The Motley Fool

Shares of Walgreens Boots Alliance (NASDAQ: WBA) were skyrocketing 14% higher as of 11:14 a.m. ET on Tuesday. The huge gain came after the pharmacy retailer announced its fiscal 2024 fourth-quarter results earlier in the morning.

Walgreens reported sales of $37.5 billion for the period ended Aug. 31, up 6% year over year. The average analysts' estimate was for Q4 revenue of $35.75 billion, according to LSEG.

The company posted a net loss per share of $3.48 based on generally accepted accounting principles (GAAP). Its adjusted earnings per share came in at $0.39, down 40.8% year over year but higher than the consensus estimate of $0.36.

What investors really liked about Walgreens' Q4 update

Normally, stocks don't soar as much as Walgreens did after delivering modest quarterly revenue and earnings beats. What investors really liked about the company's Q4 update was its plans to close around 1,200 stores over the next three years. Five hundred stores will be shut down in fiscal 2025.

Of Walgreens' 8,700 or so U.S. stores, roughly one-quarter of them are unprofitable. Management thinks that its planned closures will immediately boost adjusted earnings and free cash flow.

Is Walgreens stock a buy?

Most investors will probably be better off staying on the sidelines with Walgreens for now. However, the company's shares trade at only 4.2 times forward earnings. Walgreens has prospects of higher earnings with the planned store closures. Aggressive investors looking for a turnaround play might find this stock appealing.

Should you invest $1,000 in Walgreens Boots Alliance right now?

Before you buy stock in Walgreens Boots Alliance, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Walgreens Boots Alliance wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $0!*

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has the return of S&P 500 since 2002*.

See the 10 stocks »

*Stock Advisor returns as of October 14, 2024

Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Dollar holds above 100 near a 3-month high — three Fed speakers and a $69 billion auction land tonight The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

Author Suzie

Sep 22, Tue

The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

Sep 23, Wed

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Gold Price Forecast: XAU/USD drifts toward $4.300 with bears gaining traction Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.

Author FXStreet

Sep 23, Wed

Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.

US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth story US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Author Suzie

17 hours ago

US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Popular Symbols