24/7 Market News Snapshot 15 October, 2024 – Walgreens Boots Alliance, Inc (NASDAQ:WBA)

October 15, 2024

DENVER, Colo., 15 October, 2024 (247marketnews.com) – (Nasdaq:WBA) are discussed in this article.
Walgreens Boots Alliance, Inc. (Nasdaq:WBA) has entered trading today at $9.60, experiencing a significant surge to $9.977, an increase of 10.86% following a previous close at $9.00. This rally reflects strong investor sentiment, bolstered by robust trading activity with a volume of 34.66 million shares. Technical indicators suggest the potential for continued upward momentum, particularly if the stock maintains its position above the essential $9.70 support level. Investors are advised to monitor the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) for signs of overbought conditions, while also considering both intrinsic value and market dynamics.

In conjunction with positive market performance, WBA released its financial results for the fiscal year and fourth quarter ended August 31, 2024. The company reported sales of $37.5 billion for the fourth quarter, marking a 6.0% increase compared to the previous year, driven by growth across all business segments. This achievement underscores WBA’s commitment to operational efficiency despite facing an operating loss of $978 million, attributed to non-cash impairment charges. Adjusted operating income for the quarter was reported at $424 million, reflecting the challenges within the retail and pharmacy sectors.

CEO Tim Wentworth expressed confidence in WBA’s strategic direction, stating, “Our disciplined execution on cost management and operational optimization lays the foundation for fiscal 2025, which we view as a crucial rebasing year.” For the entire fiscal year 2024, total sales reached $147.7 billion, a 6.2% increase, although the net loss for the year was $8.6 billion, largely due to substantial impairment charges and legal-related valuation adjustments.

Looking ahead, WBA expects adjusted earnings per share for fiscal 2025 to fall between $1.40 and $1.80, reflecting its ongoing efforts to stabilize and enhance business operations while adeptly navigating the evolving healthcare environment.

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