Drugstores were among the top-performing industry groups Tuesday morning, as some investors sought the relative safe haven of defensive stocks, but they then faded. Excluding two low-priced Chinese names, the group consists of just three national and international chains, Walgreens Boots Alliance (WBA), Rite Aid (RAD) and CVS Health (CVS). All three finished lower in the afternoon decline. The industry group was ranked No. 71 out of 197 groups
The recent global sell-off in stock markets provides a solid buying opportunity of quality Internet stocks such as Facebook (FB), says Mizuho Securities. “If the global economy will start to slow, we believe that consumers and businesses would choose to utilize best-in-class services first,” wrote Mizuho analyst Neil Doshi in a research report Tuesday. “As such, we remain long on our top picks in the large cap Internet sector. Facebook remains our
Rising generic-drug maker Lannett Co. (LCI) beat Wall Street’s fiscal Q4 expectations but guided 2016 sales shy of estimates after the close Tuesday. Lannett’s earnings totaled 91 cents a share in the quarter ended June 30, up 42% from the year-earlier quarter, with sales up 23% to $99 million. Analysts expected earnings of 86 cents a share on revenue of $97.6 million, according to Thomson Reuters. Lannett stock was up nearly 1% in after-hours