On Friday, Rite Aid Corporation (NYSE:RAD)’s shares declined -1.96% to $7.51.
Rite Aid Corporation (RAD) stated operating results for its fiscal second quarter ended August 29, 2015. The company stated revenues of $7.7 billion, net income of $21.5 million or $0.02 per diluted share, and Adjusted EBITDA of $346.8 million, or 4.5 percent of revenues.
Second Quarter Summary
Revenues for the quarter were $7.7 billion as compared to revenues of $6.5 billion in the preceding year’s second quarter, an enhance of $1.2 billion or 17.5 percent. Retail Pharmacy Segment revenues were $6.6 billion and raised 1.9 percent primarily as a result of an enhance in same store sales. Pharmacy Services Segment revenues were $1.1 billion from the date of the acquisition of EnvisionRx, which was June 24, 2015 through the end of the quarter.
Net income was $21.5 million or $0.02 per diluted share contrast to last year’s second quarter net income of $127.8 million or $0.13 per diluted share. The decline in net income resulted primarily from a $33.2 million loss on debt retirement related to the redemption of the company’s 8.00% senior secured notes, higher depreciation and amortization expense related to EnvisionRx and an enhance in capital spending, higher interest and transaction costs incurred in connection with the company’s acquisition of EnvisionRx, and the cycling of a preceding year benefit of about $40 million related to the Company’s transition to its new drug purchasing and delivery arrangement with McKesson.
Rite Aid Corporation, through its auxiliaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, counting over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products. It also offers health coaching, shared decision making tools, and health care analytics, counting health coaching for medical decisions, chronic conditions, and wellness; population analytic solutions; and consulting services.
Intuit Inc. (NASDAQ:INTU)’s shares dropped -0.33% to $85.49.
Intuit Inc. (INTU) is partnering with OnDeck ® (ONDK), a leading platform for small business loans, to launch the new QuickBooks Financing Line of Credit to provide faster access to lower-rate small business loans. This first-of-its-kind financing solution enables small businesses to use their QuickBooks Online data to apply for loan offers with the click of a button. Intuit and OnDeck will launch a new $100 million small business lending fund to back the new product.
The new QuickBooks Financing Line of Credit product will be powered by Intuit’s customer data and leverage OnDeck’s industry leading technology. It is designed to offer a better financing experience for established small businesses with strong credit. Product highlights comprise:
- Lower Rates – Annual interest rates will range from 8.9% to 19.9%.
- Faster Funding – Loans will be funded as fast as one business day, dramatically shortening a process that traditionally takes weeks with a bank.
- Painless Application – Small business owners can complete the loan application with a few clicks thanks to the seamless integration between QuickBooks and OnDeck.
- Flexible Structure –The Line of Credit product will assist small businesses manage their working capital needs and provide peace of mind that they have dedicated financing in place.
Intuit Inc. provides business and financial administration solutions for small businesses, consumers, and accounting professionals primarily in the United States, Canada, the United Kingdom, Australia, India, and Singapore. The company’s Small Business segment provides QuickBooks financial and business administration online services and desktop software; QuickBooks technical support services; financial supplies; and QuickBooks Accountant, QuickBooks Accountant Plus, and QuickBooks Online Accountant, in addition to the QuickBooks ProAdvisor Program for the accounting professionals.
At the end of Friday’s trade, Under Armour Inc (NYSE:UA)‘s shares dipped -2.21% to $101.80.
Stephen Curry made a surprise appearance at Under Armour’s Global Headquarters in Baltimore recently to join Founder and CEO Kevin Plank in announcing the extension of his partnership with the brand through 2024. In 2015, Curry established himself as one of the game’s best players, capturing the league MVP award and leading the Golden State Warriors to their first championship in 40 years.
Under Armour launched Curry’s first signature basketball shoe, the Curry One, and his signature apparel collection in February 2015. Since its launch, the Curry One has continued to almost fully sell out across all retail distribution channels. The Curry Two recently launched in Asia as part of Curry’s first-ever Under Armour tour of the region, and it will launch in the U.S. and globally on October 24.
The brand will continue to grow Curry’s signature footwear line and collection of products through year-round initiatives and raised global availability.
In addition, Curry will continue to play a central role in global brand marketing campaigns, counting training, lifestyle offerings and Under Armour’s Connected Fitness™ platforms. Curry’s integration into the brand’s suite of Connected Fitness apps, which will assist elevate his game and enhance his fitness regimen, will comprise designing new training programs that will be accessible for all consumers.
Under Armour, Inc., together with its auxiliaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America. The company offers its apparel in compression, fitted, and loose types to be worn in hot, cold, and in between the extremes.
Aerie Pharmaceuticals Inc (NASDAQ:AERI), ended its Friday’s trading session with -7.35% loss, and closed at $27.87.
Aerie Pharmaceuticals, Inc. (AERI), a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of first-in-class glaucoma therapies, recently stated the successful results of its second Phase 3 trial for Rhopressa™, a novel once-daily, triple-action eye drop being tested for its ability to lower intraocular pressure (IOP) in patients with glaucoma or ocular hypertension.
Rhopressa™ Phase 3 Highlights for Rocket 2
- Rhopressa™, dosed both once-daily and twice-daily, achieved its primary efficacy endpoint demonstrating non-inferiority contrast to twice-daily timolol. The primary efficacy endpoint evaluated subjects with pre-study baseline IOPs of above 20 to below 25 mmHg (millimeters of mercury).
- The Rocket 2 efficacy results for Rhopressa™ demonstrated a comprising level of IOP lowering across all baseline IOPs and throughout the 90-day efficacy period.
- The most common Rhopressa™ adverse event was hyperemia, or eye redness, which was stated as raised in 35 percent of patients and was scored as mild for 83 percent of patients in the Rhopressa™ once-daily arm of the trial. The adverse event profile for the Rhopressa™once-daily arm comprised with the results of Rocket.
Aerie Pharmaceuticals, Inc., a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of first-in-class therapies for the treatment of glaucoma and other eye diseases.
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