Rite Aid (RAD) Shares Higher Early Amid Continued M&A Speculation (WAG) (CVS)
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Dear Rite Aid (NYSE: RAD) and Walgreen (NYSE: WAG): This is now becoming more awkward than a Junior High school dance. Or a second date.
Shares of Rite Aid are indicated for a higher open Thursday, up about 2 percent early, as investors continue to mull potential M&A in the retail pharma sector.
Wednesday afternoon, Credit Suisse stoked the fire again, saying Walgreen buying Rite Aid "makes sense." Rite Aid shares ended the session up just over 9 percent, and hit a 52-week high of $2.12 in the process.
With Rite Aid sporting a market cap of just under $2 billion and Walgreen at $30 billion, its like the elephant in the room for investors.
Maybe CVS/Caremark (NYSE: CVS) will come out of left field with a better offer though. That would be something. CVS has a market cap of $50 billion, though it last reported cash and equivalents of $1.4 billion. For its part, Walgreen had $1.1 billion of cash when it last reported results.
Shares of Rite Aid are indicated for a higher open Thursday, up about 2 percent early, as investors continue to mull potential M&A in the retail pharma sector.
Wednesday afternoon, Credit Suisse stoked the fire again, saying Walgreen buying Rite Aid "makes sense." Rite Aid shares ended the session up just over 9 percent, and hit a 52-week high of $2.12 in the process.
With Rite Aid sporting a market cap of just under $2 billion and Walgreen at $30 billion, its like the elephant in the room for investors.
Maybe CVS/Caremark (NYSE: CVS) will come out of left field with a better offer though. That would be something. CVS has a market cap of $50 billion, though it last reported cash and equivalents of $1.4 billion. For its part, Walgreen had $1.1 billion of cash when it last reported results.
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