Walgreen (WAG), CVS (CVS) Move Higher on Rite Aid (RAD) Guidance
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Walgreen (NYSE: WAG) and CVS Caremark (NYSE: CVS) are higher early following an update from Rite Aid (NYSE: RAD) showing better than expected Q1 guidance.
Rite Aid said it expects that net income for the first quarter fiscal 2014 was between $75 million and $90 million, compared to a net loss of $28.1 million for the comparable prior-year period, and estimates that diluted earnings per share was between $0.08 and $0.09, compared to a diluted loss per share of $(0.03) for the comparable prior-year period. The Street is currently looking for Q1 EPS of $0.04.
Rite Aid said it expects that net income for the first quarter fiscal 2014 was between $75 million and $90 million, compared to a net loss of $28.1 million for the comparable prior-year period, and estimates that diluted earnings per share was between $0.08 and $0.09, compared to a diluted loss per share of $(0.03) for the comparable prior-year period. The Street is currently looking for Q1 EPS of $0.04.
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