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Walgreen (NYSE:WAG) announced Q3 gross profit margin of 28.2%, 10 bps higher than a year ago. The company reports Q3 pharmacy positive effects from generics partially offset by reimbursement, specialty mix and LIFO. For front end, Walgreens says gross margin is positively affected by convenience and fresh foods, household items, and non-prescription drugs, offset by e-commerce mix.
Cisco Systems, Inc. (NASDAQ:CSCO) is expanding the functionality of its Quad enterprise social networking (ESN) software via integration with Microsoft Office applications and with email customers, such as Microsoft outlook, it reported today. Additionally, Cisco is re-branding the ESN software, losing its Quad name and referring to it was WebEx Social, in the company’s effort to give its social collaboration products a uniform brand under the WebEx moniker.
Citigroup Inc. (NYSE:C): Health-care REIT HCP Inc. (NYSE:HCP) is rebounding from an early sell off following the facilities manager prior agreeing to sell 7.8M shares to Citigroup. Plans are to use proceeds to repay debt plus other varied corporate needs.
General Electric Company (NYSE:GE): GE Aviaiton has signed a 15-year deal with NetJets Inc. to address the maintenance, repair and overhaul of the latter’s new CF34 engine fleet, the Cincinnati Enquirer is reporting. NetJets said last week that it anticipates acquiring as many as 425 new planes, of which some will use the CF34 engine manufactured by GE Aviation.
Ford Motor‘s (NYSE:F) salaried workers in England put on a 24-hour strike Monday to demonstrate against a proposal for pay and pension reductions for new hires. White-collar members of the country’s Unite union started the strike in response to Ford’s suggestion to reduce pay rates and shut down its defined-benefit pension program for new employees. Hourly workers have signed on to a plan that includes alterations to defined benefit pensions and new hire rates, Ford said.
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