Walgreens Reports Strong Earnings, Joins Rallying Stock

U.S. stocks fell, with the Dow Jones down about 100 points on Tuesday.

Walgreens Boots Alliance, Inc. WBA stock rose significantly after reporting better-than-expected quarterly earnings.

Walgreens’ fourth-quarter sales for fiscal year 2024 were $37.55 billion, up 6% from the previous year, surpassing the expected $35.76 billion. Adjusted earnings per share (EPS) were 39 cents, down 40.8%, but above the consensus estimate of 36 cents.

Walgreens shares increased by 12.3% to $10.11 on Tuesday.

Other notable gainers included:

• Wolfspeed, Inc. WOLF up 25% to $14.24 after announcing a $750 million funding proposal under the CHIPS Act.
• MeiraGTx Holdings plc MGTX up 13.4% to $5.26 after positive gene therapy study results for Parkinson’s.
• Telefonaktiebolaget LM Ericsson (publ) ERIC up 12.5% to $8.48 after beating third-quarter earnings expectations.
• Rumble Inc. RUM up 9.5% to $5.99.
• Montrose Environmental Group, Inc. MEG up 7.2% to $25.16 after securing a $249 million contract with the U.S. Army Corps of Engineers.
• TechTarget, Inc. TTGT up 7.2% to $26.97 after an analyst upgrade from Hold to Buy.
• Bit Digital, Inc. BTBT up 5.8% to $3.48 after acquiring Enovum Data Centers for around $46 million.
• Ardent Health Partners, Inc. ARDT up 5.2% to $19.85.
• Foot Locker, Inc. FL up 4% to $24.72.
• American Airlines Group Inc. AAL up 3.3% to $12.27.

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