Walgreens Acquires Alliance Boots and 4 More HOT STOCKS to Watch
Walgreen Company (NYSE:WAG) has increased its dividend by 22.2% to $0.0275 per share for its 37th consecutive year of dividend hikes. The company has also been investing $6.7B in cash-and-stock for its 45% equity ownership stake in Alliance Boots. Shares of Walgreen Company are trading 5.85% lower today.
FedEx Corporation (NYSE:FDX) has set its guidance for the new fiscal year, which started June 1, anticipating U.S. GDP growth of 2.2% and 2.6% growth for the world GDP. The high targets come as a surprise to Brian Sozzi of NBG, and he cites downside risk. FDX is down 2.4% premarket. Shares of FedEx Corporation are trading 2.36% higher today.
Oracle Corporation (NASDAQ:ORCL) is ahead of schedule in providing its FQ4 report and FQ1 guidance, as it includes a $10B stock repurchase. Canaccord gives the stock a Hold rating stating that it believes the quarter is “a favorable read-through” for software companies. Goldman gives Oracle a Buy rating and cites that both software license and hardware sales exceeded expectations. Shares of Oracle Corporation are trading 3.24% higher today.
Jefferies Group, Inc. (NYSE:JEF): At the end of Q2, Jefferies has reported book value per share at $16.23 based on the 20M shares outstanding. Adjusted book value per common share is at $15.35 based on 226M shares outstanding, which includes restricted stock units. As of May 31, estimates for all assets totaled $35.7B. The company also reports 2.2M shares bough back during Q2 at around $15.77 per share, and nearly 12.6M shares are still authorized for repurchase. Shares of Jefferies Group, Inc. are trading 3.36% higher today.
Network Equipment Technologies, Inc. (NASDAQ:NWK) is to be acquired by Sonus Networks (NASDAQ:SONS) in a deal totaling $42M and meant to expand its real-time communication product offering. This values NWK at $1.35 per share, which is a 14% premium to its closing price on Monday. Shares of Network Equipment Technologies, Inc. are trading 12.72% higher today.
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