Diamonds and Dogs

1/7/21

Walgreens (WBA) higher on earnings. Walgreens is up 5% to a nine month high after easily beating estimates as sales rose 5.7%. The company reiterated guidance and will accelerate the rollut of thier Village MD. Walgreens will also sell their Alliance Healthcare business for $6.5 billion or 16% of thier market cap. Not bad.

Profit-taking in Conagra Brands (CAG). The iconic food brands owner of Hunt's and Vlasic is down 5% to its lowest level since July. Earnings were better than expected, but a stock that performed well during the middle of the pandemic is now losing some of its luster as we inch closer to a reopening of the economy.

 

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