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Rite Aid cuts fiscal 2019 forecast with buyout vote looming

August 6, 2018 admin Comments Off on Rite Aid cuts fiscal 2019 forecast with buyout vote looming

Rite Aid is chopping its annual earnings forecast three days before its shareholders vote on whether to approve the sale of the company. Shares of the nation’s third-largest drugstore chain tumbled 10 percent Monday after the company said generic drug pricing isn’t shaping up how it expected in April when it first made its fiscal 2019 forecast. Rite Aid said it changed its outlook after realizing that reductions in the cost of generic drugs are coming in about $80 million lower than the company expected when it established its fiscal 2019 forecast. …read more […]

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PepsiCo’s Indra Nooyi latest high-profile female CEO to exit

August 6, 2018 admin Comments Off on PepsiCo’s Indra Nooyi latest high-profile female CEO to exit

With Indra Nooyi exiting PepsiCo as its longtime chief executive, the circle of CEOs in the Fortune 500 is losing one of its highest profile women. Nooyi, who was born in India, is a rarity on Wall Street as a woman and a minority leading a Fortune 500 company. At PepsiCo Inc., Nooyi stressed the company’s move toward “good for you” options that people don’t feel as guilty eating, such as Baked Lay’s potato chips and Naked juices made of fruits and vegetables. …read more […]

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Warren Buffett's Berkshire Hathaway now owns a whopping $50 billion-plus stake in Apple, its largest in any single company

August 6, 2018 admin Comments Off on Warren Buffett's Berkshire Hathaway now owns a whopping $50 billion-plus stake in Apple, its largest in any single company

Berkshire Hathaway purchased more Apple shares in the first quarter, according to a regulatory filing. Its investment is now worth over $50 billion, and received a boost as Apple’s market cap crossed the $1 trillion milestone. The conglomerate owned about 246.5 million shares, or about 5.1% of Apple, as of June 30.The share purchases came amid speculation over how Berkshire will deploy a growing mountain of cash. …read more […]