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The Capitalist Newsletter – June 30, 2017

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GUIDE TO TRADING WHEN EARNINGS ARE VOLATILE

Guy Cohen mentioned last time that this earnings season is likely to be volatile … Well here it is, and we’ve barely gotten started yet! STZ was highlighted in one of Guy’s filters, it had earnings today, and has popped up at the open by over $11 so far. Watch Today’s OVI Market Review to see how STZ popped at its earnings announcement.

Read The Capitalist’s Take Here


WALGREENS SCRAPS RITE AID MERGER; WILL INSTEAD BUY HALF OF RITE AID’S STORES

Drugstore chain Walgreens Boots Alliance Inc scrapped its deal to buy Rite Aid Corp after failing to win antitrust approval, but said it would instead buy nearly half of the smaller rival’s U.S. stores for $5.18 billion.

Rite Aid’s shares plunged about 28 percent to $2.85, while Walgreens shares were up 1 percent at $77.97. Walgreens also ended a related deal to sell as many as 1,200 Rite Aid stores to Fred’s Inc sending Fred’s shares down 19 percent.

Walgreens, the biggest U.S. drugstore chain, will likely have an easier time winning antitrust approval to buy 2,186 Rite Aid stores after it failed to win approval to take over the nearly 4,600-store chain.

Read More at Reuters Here

Read More at NY Times Here

Read More at Wall Street Journal Here



NIKE TOPS EARNINGS EXPECTATIONS; CONFIRMS DEAL TO SELL ON AMAZON

Nike reported fourth-quarter earnings and sales Thursday that topped Wall Street’s expectations, also confirming a major deal with a rival retailer that Nike has avoided working with in the past: Amazon. This news sent shares of the world’s largest footwear maker’s stock more than 7 percent higher after hours.

On a call with analysts and investors, Nike’s management team confirmed a new pilot with Amazon, where the retailer will directly sell a limited product assortment on Amazon’s U.S. e-commerce platform. The offerings will include athletic footwear, apparel and accessories.

Read More at CNBC Here

Read More at Business Insider Here

Read More at Forbes Here


Closing Bell

– Thursday, June 29th

Markets Dive DOWN as Tech Stocks Plunge

Big Insider Trades

– The J.M. Smucker Company (SJM) President of Pet Food and Snacks Barry Dunaway Sells $1.1m

– United Community Financial Corp. (UCFC) Director Marty Adams Buys $3.2m

Winners & Losers

– Spherix, Inc. (SPEX) Skyrockets UP (105.24%) After Acquiring Controlling Interest in Hoth Therapeutics

– Rite Aid Corp. (RAD) Plunges DOWN (20.15%) After Walgreens Mergers Gets Canceled

Most Talked About

Select Comfort Corp. (SCSS) Considered a Majority Buy on After Strong Day Fueled by Takeover Rumors

The TIP Sheets

– Thursday, June 29th

– Fred’s Inc. (FRED) Tumbles DOWN (22.81%) After Rite Aid/Walgreens Deal Falls Through, Meaning Fred’s Can’t Purchase 865 Stores as Intended, Which Would Have Made Fred’s the Third Lasrgest Pharmacy Chain in the Country. Expect Shares to Continue DOWN

Unusual Volume

Rite Aid Corp. (RAD) Tumbles DOWN (26.46%) on 213m Shares Traded After Regulators Nix Walgreens Deal. Expect Shares to Continue DOWN

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