Why Rite Aid, Hudbay Minerals, and NovoCure Jumped Today
Stocks started the week on a positive note Monday as several major benchmarks pushed further into record territory. The Dow Jones Industrials continued their march toward 23,000, and investors seemed to feel that the beginning of third-quarter earnings season has gone well thus far. Rhetoric from the White House connected to potential healthcare reform rattled the markets briefly during the day, but favorable sentiment quickly re-established itself. Good news from several companies also helped improve the mood. Rite Aid (NYSE: RAD), Hudbay Minerals (NYSE: HBM), and NovoCure (NASDAQ: NVCR) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of Rite Aid rose 7%, adding to its rebound from Friday that pulled the stock up from levels not seen since early 2013. The drugstore chain has lost nearly 80% of its value since early this year, due to a succession of changes to its planned transaction with Walgreens Boots Alliance (NASDAQ: WBA). The latest iteration of the deal involves a sale of only some of Rite Aid's stores, and investors fear that the remaining company will struggle to find ways to compete against its bigger rivals in the space. With major executives now leaving the company, Rite Aid will have to fight harder than ever in order to reassure shareholders that it can recover fully.
Image source: Rite Aid.
Source: Fool.com
Walgreens Boots Alliance Inc. Stock
Currently there is a rather negative sentiment for Walgreens Boots Alliance Inc. with 3 Buy predictions and 5 Sell predictions..
On the other hand, the target price of 32 € is above the current price of 16.06 € for Walgreens Boots Alliance Inc., so the potential is actually 99.23%.
