CVS is the largest specialty pharmacy in the United States. Specialty sales came in at $31 billion in 2014 and are expected to rise to $37 billion this year.
CVS Health (CVS) will declare its 2Q15 earnings on August 4. Markets are expecting a solid quarter with consensus Wall Street analyst estimates projecting EPS of $1.196.
The PowerShares Multi-Strategy Alternative Portfolio ETF (LALT) is one of those rare alternative ETFs that tries to replicate the performance of its index by active management of its assets.
A liquid alternative ETF, the ProShares Large Cap Core Plus ETF (CSM) tracks a long-short index of Credit Suisse 130/30.
Company & Industry Overviews
PepsiCo (PEP) issued high-grade bonds worth $3.25 billion. The A1/A rated bonds were issued via the following five parts.
CVS Health has been aggressively expanding, announcing its intention to acquire long-term care provider Omnicare in May for $12.7 billion in an all-cash deal.
Walgreens Boots Alliance reported that net sales in the second quarter of 2015 increased by 35.5% to $26.6 billion. Q2 earnings increased by 21.6% to $1.18 per share.
Walgreens Boots Alliance is a firm created by the merger of Walgreens and Alliance Boots in December 2014.
Viking Global Investors started a new position in Walgreens Boots Alliance (WBA). The fund bought 18,933,712 shares of Walgreens Boots Alliance.
In its 13G filing, Iridian Asset Management slightly increased its holdings in SemGroup (SEMG). This resulted in a passive stake of 8.2% in the company.
Iridian increased its shares in Omnicare by approximately 18%, from 5,047,158 shares to 5,948,816. The fund holds a 6.1% passive stake in Omnicare.
Iridian raised its position in Avis Budget Group, Inc. (CAR) to 5,395,808 shares from 3,773,401, a 43% increase. Iridian has a passive 5.1% stake in Avis.