On Wednesday, Shares of Rite Aid Corporation (NYSE:RAD), lost -0.57% to $6.07.
Rite Aid Corporation 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.
“The second quarter was pivotal for Rite Aid as we accomplished the acquisition of EnvisionRx and worked as a team to accelerate our transformation into a retail healthcare company,” said Rite Aid Chairman and CEO John Standley. “EnvisionRx made positive contributions to our performance as our Pharmacy Services Segment* delivered results that were in line with our expectations. We will continue to focus on key initiatives like wellness+ with Plenti, flu immunizations and Wellness store remodels to drive performance in our retail segment as we also leverage EnvisionRx’s suite of services to create unique and integrated offerings in the healthcare marketplace.”
Rite Aid has updated its fiscal 2016 guidance to reflect more recent sales trends and additional predictable amortization expense from EnvisionRx. The midpoint of Adjusted EBITDA guidance remains unchanged. Total revenues are predictable to be between $30.8 billion and $31.1 billion. Retail drugstore sales are predictable to be between $26.7 billion and $27.0 billion and same store sales to range from an improvement of 1.5 percent to an improvement of 2.5 percent over fiscal 2015. Adjusted EBITDA (which is reconciled to net income on the attached table) guidance is predictable to be between $1.360 billion and $1.440 billion and net income is predictable to be between $125 million and $195 million or income per diluted share of $0.12 to $0.19. Capital expenditures are predictable to be about $665 million.
Rite Aid Corporation is a retail drugstore chain. The Company sells prescription drugs and a range of other merchandise, which are referred to as front-end products. The Company’s drugstores’ primary business is pharmacy services. It operates about 4,570 stores in 31 states across the country and in the District of Columbia.
Shares of Vodafone Group Plc (ADR) (NASDAQ:VOD), inclined 2.72% to $31.74, during its last trading session, after its Australian division signed two commercial agreements worth more than 1 billion Australian dollars with TPG Telecom.
TPG Telecom will extend its Dark Fibre transmission network infrastructure to provide services to more than 3,000 Vodafone Hutchison Australia sites over 15 years.
This will allow Vodafone to expand its available bandwidth and the possibility of expanding to 5G.
“Network data traffic will continue to grow through customers’ appetite for mobile content and the emergence of technologies such as the Internet of Things, and a Dark Fibre network will allow us to cater for future growth,” Vodafone CEO Iñaki Berroeta said in a statement.
TPG Telecom will spend 300 million to 400 million Australian dollars for the expansion that will lead to 900 million Australia dollars in revenue over the 15 years.
Vodafone Group Plc (Vodafone) is a mobile communications company which provides services to mobile voice, messaging, data and fixed line. The Company’s money transfer service, M-Pesa, enables people in emerging markets, to send and receive money through a mobile phone.
Shares of Horizon Pharma PLC (NASDAQ:HZNP), inclined 17.91% to $19.82, during its last trading session.
Horizon Pharma declared that Glass Lewis & Co. (“Glass Lewis”), one of the nation’s leading proxy advisory services, issued a report supporting Horizon Pharma’s efforts to call for two related special meetings of Depomed, Inc. (“Depomed”) shareholders — one to remove all of the current Depomed directors and repeal a series of recent amendments to Depomed’s bylaws (the “Removal and Bylaw Amendments Special Meeting”) and a second to elect replacement directors (the “Election Special Meeting”).
Glass Lewis recommended that Depomed shareholders PROVIDE CONSENT FOR Horizon Pharma’s solicitation for the calling of the special meetings by submitting their WHITE and BLUE proxy cards to Horizon Pharma’s proxy solicitor, MacKenzie Partners, Inc. Glass Lewis is the second proxy advisory service to make that recommendation. On September 28, 2015, Horizon Pharma declared that Institutional Shareholder Services (“ISS”) had recommended that Depomed shareholders should provide such consent.
Horizon Pharma plc, formerly Vidara Therapeutics International Public Limited Company, is a specialty biopharmaceutical company focused on identifying, developing, acquiring or in-licensing and commercializing differentiated products that address unmet medical needs.
Finally, Energy Transfer Partners LP (NYSE:ETP), ended its last trade with 10.35% gain, and closed at $41.05.
Bayou Bridge Pipeline, LLC (Bayou Bridge) declares the launch of a binding expansion open season to assess additional interest in transportation service from Nederland, Texas, to refining markets in Louisiana on the Bayou Bridge Pipeline (BBP). Bayou Bridge is jointly owned by auxiliaries of Phillips 66 (PSX), Energy Transfer Partners, L.P. (ETP) and Sunoco Logistics Partners L.P. (SXL).
Construction is already underway on the BBP 30-inch pipeline segment from Nederland, Texas, to Lake Charles, Louisiana. Bayou Bridge anticipates commercial operations for this segment to start in the first quarter of 2016. The results of the expansion open season will be used by Bayou Bridge to determine the diameter of the BBP pipeline segment from Lake Charles to St. James, Louisiana. At St. James, BBP has agreed to a connection with NuStar Energy L.P.’s crude oil terminal and is in negotiations with additional parties to connect to the extensive existing crude oil terminalling infrastructure in the region, counting the Plains Marketing, L.P.’s crude oil terminal. The in-service date for commercial deliveries by Bayou Bridge to St. James, Louisiana, is forecast for the second half of 2017.
The binding expansion open season will commence at 12 p.m. CDT October 1, 2015. Bona fide potential shippers that would like to receive copies of the expansion open season documents, the throughput and deficiency agreement, and projected tariffs must first sign a confidentiality agreement.
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally.
Energy Transfer Partners, L.P. is a master limited partnership. The Company’s operating segments comprise Intrastate Transportation and Storage segment; Interstate Transportation and Storage segment; Midstream segment; Liquids Transportation and Services segment; Investment in Sunoco Logistics segment; Retail Marketing segment and All Other segment.
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