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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

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

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 […]

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American Airlines kicked a woman off a flight after she brought her $30,000 cello onboard even though she bought a seat for it (AAL)

American Airlines kicked a musician off a flight from Miami to Chicago because they said her cello did not meet seat size requirements for the plane. The Chicago-based musician had already purchased a ticket for the cello after being told by American Airlines she could fly with it, the passenger claims. American Airlines released a statement, blaming the incident on a “miscommunication.” …read more […]

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PepsiCo veteran Ramon Laguarta to replace Indra Nooyi as CEO

Laguarta starts on Oct. 3 and will be PepsiCo’s sixth CEO in its 53-year history. “Ramon Laguarta is exactly the right person to help build on @PepsiCo’s strong position and success. A 22-year veteran of PepsiCo, Laguarta oversaw global operations, corporate strategy, public policy and government affairs in his role as president. …read more […]

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PepsiCo veteran Ramon Laguarta to replace Indra Nooyi as CEO

Laguarta starts on Oct. 3 and will be PepsiCo’s sixth CEO in its 53-year history. “Ramon Laguarta is exactly the right person to help build on @PepsiCo’s strong position and success. A 22-year veteran of PepsiCo, Laguarta oversaw global operations, corporate strategy, public policy and government affairs in his role as president. …read more […]