Walgreen Dips Despite Solid Earnings

Advertisement

Here’s what’s hot in the market today:

Walgreen (NYSE: WAG) fell almost 5% just above $43 by midday as the drug store chain reported quarterly earnings. Revenue totaled more than $18 billion, an increase of more than 6% year-on-year for the period. Net income was up significantly, totaling $603 million, a 30% year-on-year rise.

Century Casinos (NASDAQ: CNTY) was up more than 10% to $3.10 on almost 26 times typical trading volume. Shares in the hotel and casino operator spiked up to almost $6 in early Tuesday trading before falling back midday. More than 713,000 shares were exchanged.

Tower Bancorp (NASDAQ: TOBC) was up 31% to more than $26.70 on 31 times normal trading volume. Susquehanna Bancshares (NASDAQ: SUSQ) announced on Monday that it would pay $343 million in cash and shares to acquire all the common stock of TOBC,  a bank holding company based in Greencastle, Penn. SUSQ was down more than 9% to $7.55.

Country Style Cooking (NYSE: CCSC) was up a smidge on about twice its normal trading volume. The Chinese fast food chain announced that it expects to report nearly $36 million in earnings for the quarter ending in June, a 38% increase over the same period in 2010. Shares were trading near $10.60 midday.

Blue Nile (NASDAQ: NILE), the online diamond and jewelry retailer, was up more than 3% on nearly twice its normal trading volume. The stock fell from $60 at the beginning of May, when the company announced earnings that failed to exceed analyst expectations. Shares are trading just below $45.

As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at @ajohnagnello and become a fan of InvestorPlace on Facebook.


Article printed from InvestorPlace Media, https://investorplace.com/2011/06/walgreen-wag-ccsc-tobc-nile-cnty/.

©2024 InvestorPlace Media, LLC