Walgreens Boots Alliance Inc. (WBA) is the first global pharmacy-led, health and well-being enterprise in the world to help people across the world lead healthier lives. The stock is currently trading around $85.84 at the upper end of its 52 week range of $57.75-$93.42. The stock has been outperforming the market this year rallying 12.66% year to date. WBA is scheduled to report earnings before the opening bell tomorrow, and the stock is bearish today falling by $1.41 or 1.62% on the session ahead of the close amidst the Greece and China troubles.

Walgreens changed it’s ticker symbol from WAG to WBA and reported earnings once since then rallying with a move of 4.90%. The stock appears flat on a chart going into the release having traded in the Ichimoku Cloud for the past month since mid June on the daily bars. The stock looks as if it could reverse today’s trend and rip to the upside in today’s session. Investors are looking to see how the new initiative enacted to reduce costs as well as enhancement of operational efficiencies. This project was expected to result in $500 million in cost savings by 2017. In order to reach this target the company has closed 200 stores and reorganized corporate and field operations to drive operational efficiencies and streamline information technology.

The options market is currently implying a move of around $2.94 or 3.4% in WBA by this Friday’s close giving us targets of $82.90 and $88.78.

Andrew Keene

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