Walgreen Boots Alliance Gets Kicked To The Curb Following Q4 Report/Rite-Aid Purchase

Walgreen's Boot Alliance

shares are trading sharply lower by $10.20 at $84.96 in Wednesday's session. Despite a Q4 beat of $0.07 on flat sales, the Street is dissatisfied with lowered FY 2016 guidance ($4.25-$4.55 vs. Est. $4.54). Also, shareholders are not applauding the purchase of Rite-Aid

for $9 per share in cash. Following a lower open, the issue rallied to $93 before sellers engulfed the issue. So far, the decline has taken the issue to $84.74 and is attempting to reclaim the $85 handle. That marks the lowest level for the issue, since it bottomed on October 15 at $84.37. '