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☆ Walgreens' biggest healthcare bet is floundering as it shutters 160 primary-care clinics
▼ + stars: | 2024-03-28 | by ( ) www.businessinsider.com time to read: +4 min

It's exiting 160 VillageMD primary-care clinics, up from the previously planned 60. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Walgreens' healthcare business reported an operating loss of $1.7 billion in 2023, and VillageMD makes up the bulk of that business. The move to close so many clinics has some analysts questioning whether Walgreens plans to ditch its healthcare bets altogether. A Walgreens spokesperson said VillageMD has exited or plans to exit Florida, Indiana, Chicago, Massachusetts, Rhode Island, and Nevada.

Persons: VillageMD, —, Tim Wentworth, Roz Brewer, Mary Langowski, John Driscoll, they've, Jack Slevin, Jefferies, Allen Lutz, Slevin, Cigna Organizations: Walgreens, Service, Express, Health, Summit Health, WBA, BofA Securities, Shields Health Solutions, Healthcare Locations: VillageMD, Chicago, Florida , Indiana, Chicago , Massachusetts, Rhode Island, Nevada

☆ Walgreens is closing all VillageMD primary-care clinics in Florida as the pharmacy giant slashes costs
▼ + stars: | 2024-02-21 | by ( Rebecca Torrence | Blake Dodge | ) www.businessinsider.com time to read: +5 min

Read previewWalgreens-backed primary care company VillageMD is closing all its medical clinics in Florida, one of its largest markets. VillageMD confirmed the closures in an email to Business Insider on Wednesday. The closures are part of Walgreens' strategy to slash spending by $1 billion or more as the pharmacy giant's healthcare business struggles with losses. All of the VillageMD clinics in Florida are attached to Walgreens stores, according to Jefferies' January report. At the time of the acquisition, Walgreens had planned to open 1,000 VillageMD clinics located adjacent to its pharmacies by 2027.

Persons: —, VillageMD, Jefferies, Tim Wentworth, Brian Tanquilut, Jack Slevin, Tanquilut, Wentworth, Roz Brewer, John Driscoll, Mary Langowski, Driscoll Organizations: Service, Business, Walgreens, Jefferies, CVS Health, Summit, Solera, Shields Health Solutions, Pearl Health Locations: Florida, Texas, Arizona, VillageMD, Houston, Atlanta, Phoenix, Shields

☆ 4 stock ideas I brought back from the JPMorgan Healthcare Conference and everything else I learned about the industry
▼ + stars: | 2024-01-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

We will go over them – but first, let me talk about what I learned at last week's JPMorgan Health Care Conference that I attended in San Francisco, and what it means to your portfolio. We know health care has a lot of angles too it. The previous CEO Roz Brewer was from Starbucks and struggled with the role that Walgreens plays in health care. You have to be following the transformation of Bristol-Myers, which is opening its wallet to buy a host of drug companies, including anti-psychotic firm Karuna. Health care is the way to go.

Persons: Regeneron, Pfizer, Eli Lilly, Dave Ricks, Lilly, donanemab, Lilly's, Zepbound, it's, Abbott, It's, Roche, Merck, Myers, ABT, Robert Ford, Tim Wentworth, He's, Roz Brewer, Wentworth, he'll, Brewer wasn't, Bob Bradway, Amgen, Vas Narasimhan, Sandoz, Karuna, Medtronic, Hugo, Morgan Stanley, Wells, Covid, Cramer's, Jim Cramer, Jim, Las Vegas Brendan Smialowski Organizations: Abbott Labs, Covid, Novartis, Amgen, Walgreens Boots Alliance, JPMorgan Health Care Conference, Humana, Drug Administration, Novo Nordisk, Dickinson Co, Bristol, Myers Squibb, Pfizer, Department, WBA, Walgreens, Starbucks, -, pharma, Merck, Keytruda, Horizon Therapeutics, Federal Trade Commission, Myers, BD, CVS Health, JPMorgan, Cramer's Charitable, CNBC, Consumer, AFP, Getty Locations: San Francisco, GLP, North Carolina, Europe, Cencora, Amgen, West, Bristol, Target, Las Vegas

☆ Here's why it's time to buy 'dividend aristocrats,' says Wolfe Research
▼ + stars: | 2023-11-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Next year could be the year for certain dividend stocks, according to Wolfe Research. The S & P 500 Dividend Aristocrats Index is composed of companies that have increased dividends for at least 25 consecutive years. Here are some of the names in the S & P 500 Dividend Aristocrats Index. For investors who prefer funds, they can also get exposure through the ProShares S & P 500 Dividend Aristocrats exchange-traded fund. NOBL YTD mountain ProShares S & P 500 Dividend Aristocrats ETF — CNBC's Michael Bloom contributed reporting.

Persons: Chris Senyek, Senyek, Wolfe, Roz Brewer, Tim Wentworth, Wentworth, Medtronic, Michael Bloom Organizations: Wolfe Research, Federal, Materials, Walgreens, Shields Health, —

☆ Walgreens profit outlook comes up short as demand declines for Covid vaccines and tests
▼ + stars: | 2023-10-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Walgreens on Thursday offered soft profit guidance and reported fiscal fourth-quarter earnings that fell short of expectations, as demand for Covid vaccines and tests sinks in the U.S. The company said it expects adjusted earnings per share of $3.20 to $3.50 in the coming fiscal year, which is lower than analysts' estimate of $3.72. Walgreens expects lower Covid-related sales, along with a higher tax rate and lower sale and leaseback contributions, to offset earnings growth. Excluding certain items, adjusted earnings per share were 67 cents for the quarter. Shares of Walgreens have dropped more than 39% for the year, putting the company's market value at $19.51 billion.

Persons: –, intently, Tim Wentworth, Roz Brewer, Wentworth Organizations: Walgreens, U.S, Wall Street, LSEG Locations: Los Angeles , California, U.S

☆ Walgreens names veteran health-care executive Tim Wentworth as next CEO
▼ + stars: | 2023-10-11 | by ( Bertha Coombs | ) www.cnbc.com time to read: +1 min

Walgreens Boots Alliance has chosen veteran health care executive Tim Wentworth as the company's new chief executive. Wentworth is the former CEO of the nation's largest pharmacy benefits management company, Express Scripts, which was acquired by Cigna in 2018. He stayed on and served as chief of Cigna's health services, before retiring at the of 2021. Under Brewer's tenure, Walgreens took a major stake in primary care provider VillageMD, acquired specialty pharmacy provider Shields Health, as well as homecare provider CareCentrix. Trying to integrate and scale the businesses has pressured Walgreens' earnings.

Persons: Tim Wentworth, Wentworth, it's, Roz Brewer Organizations: Walgreens, Walgreens Boots Alliance, Express, Cigna, CNBC, Shields Health Locations: Hollywood , California, CareCentrix

☆ Jim Cramer praises Walgreens new CEO pick, says buy the stock 'perhaps aggressively'
▼ + stars: | 2023-10-11 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Wednesday praised the incoming CEO of Walgreens Boots Alliance , saying industry veteran Tim Wentworth is the right choice to lead the struggling pharmacy chain in its transition to offering more health-care services. I just salute him and think he can take you to a higher price, and the stock should be bought — perhaps aggressively," Cramer said on "Squawk on the Street." If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. The company said it was seeking a new CEO who had "deep" experience in the health-care industry. "I like Wentworth, and there is now hope for a stock that I held no hope for," Cramer said.

Persons: CNBC's Jim Cramer, Tim Wentworth, Cramer, Wentworth, Jim Cramer's, Roz Brewer Organizations: Walgreens Boots Alliance, Express, Cigna, Walgreens, Dow Jones, CNBC

☆ Walgreens says cooler screens caught fire and showed the wrong prices in its stores
▼ + stars: | 2023-10-02 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Cooler Screens, the company behind the displays, planned to roll out the screens in hundreds of Walgreens locations. Walgreens had authorized Cooler Screens to install the technology in 700 stores, according to the Wall Street Journal. TikTok users have posted videos over the past couple of years showing problems with Cooler Screens displays at stores. Cooler Screens sued Walgreens in June, saying the retailer violated its contract with the startup. Cooler Screens told Insider that the issues were caused by "Walgreens' outdated and poorly maintained electrical system."

Persons: —, Walgreens, Roz Brewer's, Brewer Organizations: Walgreens, Service, Wall Street, CVS

☆ Stocks making the biggest moves midday: Tesla, Nike, Carnival, Nvidia and more
▼ + stars: | 2023-09-29 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Tesla — Stock in the electric vehicle company added 1.5% in midday trading Friday. Canaccord Genuity reiterated a buy rating on the EV stock on Thursday ahead of vehicle deliveries data. Elsewhere, Citi remained neutral on Tesla and reduced its vehicle delivery forecast to 450,000 from 468,500. Bumble — The online dating platform added 3% after Loop Capital Markets upgraded the stock to buy from hold. Corcept Therapeutics — Shares slumped 17% in midday trading as the firm contends with ongoing litigation against Teva Pharmaceuticals.

Persons: Elon Musk, Canaccord Genuity, Tim Wentworth, Roz Brewer, Bumble —, Cushing, Teva, — CNBC's Pia Singh, Alex Harring, Michelle Fox, Hakyung Kim, Darla Mercado Organizations: U.S, Senate, Intelligence, Capitol, Washington , D.C, Citi, Barclays, Anheuser, Busch InBev — U.S, LSEG, Cruise, Wonder Group, Nvidia —, Blackwell, Nvidia, Nike —, Nike, Walgreens, Bloomberg, Therapeutics, Teva Pharmaceuticals, Texas, Northcoast Research Locations: Washington ,

☆ Cramer identifies 'cracks' he sees in the market
▼ + stars: | 2023-09-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer told investors he sees "cracks" in the market, especially in the prospective earnings of some big name companies. He stressed that many of these cracks may be due to the time of year, with September being a historically down month for the market. Cramer noted cracks in the retail industry, highlighting the recent success of TJX , the parent company of TJ Maxx and Marshalls. Cramer stressed the cracks he sees in the auto industry, with the three leading U.S. carmakers potentially facing a strike. "The unions have a strike fund, which lasts a heck of a lot shorter than the pots of gold the auto companies have saved," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Wednesday's, TJ Maxx, TJX, Roz Brewer Organizations: Dow Jones, Nasdaq, Marshalls, Walgreens

☆ Walgreens Chief Executive Roz Brewer Steps Down
▼ + stars: | 2023-09-01 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/earnings/walgreens-chief-executive-roz-brewer-steps-down-4fbd1733

Persons: Dow Jones Organizations: walgreens

☆ Walgreens CEO Roz Brewer steps down after more than 2 years in the role
▼ + stars: | 2023-09-01 | by ( Mike Calia | ) www.cnbc.com time to read: +1 min

Walgreens Boots Alliance said Friday that Roz Brewer had stepped down as the company's chief executive. Brewer and Walgreens were in a rough patch leading up to Friday's announcement. In June, the company reported fiscal third quarter earnings that missed Wall Street expectations for the first time since July 2020. Walgreens said it is searching for a new CEO. A veteran of Walmart and Starbucks, Brewer had led Walgreens since March 2021.

Persons: Roz Brewer, Brewer, Ginger Graham Organizations: Walgreens Boots, Walgreens, Walmart, Starbucks

☆ Stocks making the biggest moves premarket: Dell, MongoDB, Lululemon and more
▼ + stars: | 2023-09-01 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A Dell Technologies flag outside the company headquarters in Round Rock, Texas, US, on Monday, Feb. 6, 2023. Check out the companies making headlines before the bell:Dell Technologies — Dell Technologies surged 10.5% after exceeding analysts' second-quarter expectations. MongoDB — MongoDB advanced 5% after topping Wall Street expectations in its latest quarter. Lululemon Athletica — Shares added 2.3% in premarket trading after the athletic apparel retailer reported an earnings beat. VMware gave a mixed second-quarter report on Thursday, beating expectations for earnings per share while missing on revenue.

Persons: Refinitiv, Morgan Stanley, Dell, Lululemon, Roz Brewer, — CNBC's Michelle Fox, Alex Harring, Jesse Pound, Samantha Subin Organizations: Dell Technologies, Revenue, Walgreens, Alliance, Vale, JPMorgan, VMware, Broadcom, Broadcom — Locations: Round Rock , Texas

☆ Stocks making the biggest moves midday: PagerDuty, Dell, Tesla, Broadcom and more
▼ + stars: | 2023-09-01 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Fiscal second-quarter earnings per share came in at $2.68, versus the $2.54 expected from analysts polled by Refinitiv. PagerDuty — The stock declined 7.7% after PagerDuty issued third-quarter earnings guidance that missed analysts' expectations. The company expects earnings per share between 13 cents and 14 cents for the quarter, below a StreetAccount consensus of 15 cents per share. The company's earnings per share came out at $1.71, however, which was lower than analysts' expectations of $1.76, according to StreetAccount. The database software maker posted adjusted earnings of 93 cents per share on revenue totaling $423.8 million for the second quarter.

Persons: Lululemon, Papa John's, PagerDuty, Baird, Precious, Refinitiv, Morgan Stanley, Dell, Roz Brewer, Tesla, — MongoDB, Yun Li, Alex Harring, Michelle Fox Theobald Organizations: Broadcom, VMware, Refinitiv, Revenue, Dell Technologies, Walgreens, Alliance Locations: San Jose , California, China

☆ Goldman Sachs invests $2 billion in Black women-owned businesses — the first chapter of a bigger plan
▼ + stars: | 2023-04-04 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +2 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York, November 17, 2021. Goldman Sachs is investing more than $2.1 billion into Black women-owned businesses and nonprofits via the investment bank's One Million Black Women program — and leaders say it's only the first chapter. One Million Black Women launched in March 2021 with the bigger goal of having a positive impact on the lives of 1 million Black women by 2030. "Turbo boosting Black women entrepreneurs is a key part of the work that we do," Pompey said. The ripple effect of investing in a Black woman entrepreneur is tremendous."

☆ Senate Democrats urge Walmart, Costco, Albertsons and Kroger to sell abortion pill mifepristone
▼ + stars: | 2023-03-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Erin Hooley | Tribune News Service | Getty ImagesSenate Democrats called on Walmart , Costco , Albertsons and Kroger to sell the prescription abortion pill mifepristone and clearly let customers know how to get it at their pharmacies. The companies have not publicly stated yet whether they plan to sell mifepristone at their pharmacies. The 17 senators told Walmart CEO Doug McMillon, Costco CEO Craig Jelinek, Albertsons CEO Vivek Sankaran and Kroger CEO Rodney McMullen that they are frustrated the companies have not yet publicly indicated whether they will sell mifepristone. Major retailers in the U.S. have been thrust in the middle of the nation's deep divisions over abortion as they weigh whether to sell mifepristone. Walgreens has come under fire after it told the GOP attorneys general that it would not sell mifepristone in their states.

☆ Walgreens CEO Roz Brewer wants to make getting healthcare as easy as going to your neighborhood pharmacy
▼ + stars: | 2022-12-28 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +5 min

Brewer, 60, is chasing a new first of sorts in her role at Walgreens: turning the $33 billion pharmacy chain into a destination healthcare company. After stepping into power at America's second-largest pharmacy during the deadliest disease event in US history, Brewer has been pursuing a wide-ranging strategy to remake the company. The company's larger rival, CVS Health, is following a similar strategy of making healthcare a bigger part of its business. "Dispensing of pharmaceuticals is not going to be our long-term growth avenue," Brewer said at a 2022 healthcare-industry conference, according to FierceHealthcare. But healthcare is complex and even the company's long-standing pharmacy business comes with challenges.

☆ 2022 in gender equality: Share of female Fortune 500 CEOs hits all-time high, but other progress stalls
▼ + stars: | 2022-12-20 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

Women continue to face a significant wage gap that has hardly budged over the last 15 years, with women of color bearing the brunt of the disparity. The year "2022 really is a mixed bag when it comes to gender equality," says Melissa Boteach, the vice president for income security and child care/early learning at the National Women's Law Center. Aside from that victory, there has been little progress in closing the gender wage gap over the past decade. This year, the wage gap narrowed by one penny. The wage gap Black women face narrowed by about four cents in one year, while Latinas' wage gap didn't budge at all.

☆ Walgreens Chases Customers It Lost During Covid Focus
▼ + stars: | 2022-10-14 | by ( Katie Deighton | ) www.wsj.com time to read: +4 min

Walgreens Boots Alliance Inc. is planning to reinvigorate its pharmacy business partly through a marketing push designed to regain customers that stopped spending with the chain during the Covid-19 pandemic. The program lets executives analyze where customers are shopping and what they are buying, and use that information to reach out to them with more personalized marketing, Ms. “This is primarily a digital plan.”Walgreens plans to assess data to group customers into various communities, depending on what their needs are and where they shop, according to Ms. Brown, the customer chief. But a community of “support seekers,” who may need more pharmacy support, would be targeted with marketing around a store’s pharmacy services, Ms. Brown said. Walgreens in May named former Calvin Klein executive Linh Peters as its chief marketing officer, in part because of her experience leading marketing and loyalty programs at Starbucks, Best Buy, Target and Ulta.

☆ Walgreens beats sales expectations, as it expands its health-care business
▼ + stars: | 2022-10-13 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Walgreens Boots Alliance on Thursday exceeded fiscal fourth quarter sales and earnings expectations, as the drugstore chain turns itself into a more health-care focused company. At the end of the quarter, Walgreens had a total of 334 doctor offices with VillageMD. Covid vaccines, which boosted Walgreens' sales and foot traffic, have fallen off significantly. It had fourth quarter sales of $5.1 billion, a drop of 6.6% from the year-ago period. Its U.S. digital sales growth grew 14% in the fourth quarter, on top of an 82% increase in the year-ago period.

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