Diamonds and Dogs
Walgreens Boots Alliance (WBA) rebounding following earnings. The US pharmacy company is up 5% after beating earnings estimates thanks to prescription drug sales. Last quarter was one of the worst quarters for the company since 2014. Walgreens is facing a number of issues including heightened reimbursement pressure, lower profits on generic medications, slowing price inflation for brand-name drugs and disappointing results from their retail offerings. Following the current quarterly results, management was a little more optimistic seeing an improvement in U.S. comparable growth compared with the first half of the year.
More problems at Boeing (BA). Boeing is down 2% after the U.S. Federal Aviation Administration said it found yet another issue with the 737 MAX plane's software that could further delays to its return to service. The FAA found another potential risk during simulator tests last week which will require additional fixes from Boeing and delay official testing until July 8. Boeing made a statement saying the safety of their airplanes was of the highest priority. It better be.