A Tale of Two Drugstores
One year ago, Walgreen (WAG) and CVS Caremark (CVS), the two leading drugstore chains, seemed to be on divergent paths. CVS was posting all-time record sales and earnings while Walgreen was losing customers following its failure to agree on new contract terms with Express Scripts (ESRX).
Walgreen shares had dropped from $49.20 to $33.25 in anticipation of reduced revenue and EPS. After WAG announced it was buying a large stake in European drugstore giant Alliance Boots, the market reaction became even more negative. The stock sank all the way to $28.50....357 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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