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Shares of Walgreen (NYSE:WAG) move up a bit in late trading, as the firm’s war with Express Scripts (NASDAQ:ESRX) seems to wane on word that the two have dropped claims against each other. However, the new contract is not yet in place, and traders raised their eyebrows at May sales figures that show just how much revenue Walgreen is giving up by not integrating Express Scripts customers into their business. Meanwhile, BMO Capital believes that the former will ultimately outlast the latter, and reach the premium it has designated for its cooperation.
Earnings Report: The J.M. Smucker Company Fourth Quarter Earnings Sneak Peek.
What is this paying ‘protection money’? PepsiCo (NYSE:PEP) must deal with a seemingly ‘gangland’ style threat in Mexico, where fire-bombings connected to drug cartels appear to be aiming at Pepsi’s subsidiary there in what might be extortion. So far, analysts are not saying out loud that the attacks mean that the cartels are beginning to try and intimidate multinational companies, but Pepsi’s five burnt properties and 40 delivery vehicles that were recently attacked might imply the obvious.
Doubts that the Walton Family still rules Wal-Mart (NYSE:WMT) may be put aside now that 87 percent of shareholders voted to re-elect CEO Mike Duke to the board. The vote flies in the face of high-profile pension funds and activist groups urging his departure falling flat at the annual meeting in Arkansas.
Investing Insights: The Pep Boys – Manny, Moe & Jack First Quarter Earnings Sneak Peek.
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