Health care companies lead US stocks ... Walgreens pursues AmerisourceBergen ... Fed chair says global economic strongly recovering
NEW YORK (AP) — Health care companies are leading stocks broadly lower in early trading on Wall Street as the market gives back some of its big gain from the day before. At 10:26 a.m. Eastern Time, the Dow was down 54 points, to 24,546. The S&P 500 dropped 5 points to 2,651. And the Nasdaq was down 3 points to 6,985.
NEW YORK (AP) — Shares of AmerisourceBergen soared before the opening bell today on reports that Walgreens is pursuing a complete takeover of the huge drug distributor. The Wall Street Journal reported late Monday that Walgreens Boots Alliance Inc. reached out to AmerisourceBergen Corp. about a potential deal several weeks ago. Data provider FactSet says Walgreens already owns about 26 percent of the company.
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the global economy is recovering strongly for the first time in a decade, but the central bank needs to remain alert to any emerging risks to financial stability. Powell says the central bank is in the process of “gradually” raising interest rates and trimming its massive holdings of Treasury bonds.
PARIS (AP) — A leading energy watchdog says that the boom in U.S. oil production is reminiscent of the rise in output that eventually led to the 2014 crash in crude prices. The International Energy Agency, a policy adviser to countries, says in its monthly report that “in 2018, fast rising production in non-OPEC countries, led by the U.S., is likely to grow by more than demand.”
NEW YORK (AP) — Blue Apron Holdings Inc. is reporting a loss of $39.1 million in its fourth quarter. On a per-share basis, the New York-based company says it had a loss of 20 cents. The meal-kit seller posted revenue of $187.7 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $182.8 million.