Content about finance

January 26, 2011

The Motley Fool on Tuesday suggested all three national pureplay drug chains were in a better position today than five and three years ago based on a metric called the “cash king margin.”

NEW YORK — The Motley Fool on Tuesday suggested all three national pureplay drug chains were in a better position today than five and three years ago based on a metric called the “cash king margin.”

January 20, 2011

A new quarterly index developed by eBillme found that 19% of shoppers will spend more on Valentine's Day this year.

RYE BROOK, N.Y. — A new quarterly index developed by eBillme found that 19% of shoppers will spend more on Valentine's Day this year.

The index polled 1,200 consumers to measure projected online spending for the quarter and the influencing factors, eBillme said. Of the consumers polled, the index revealed, 32% of shoppers will purchase Valentine's Day gifts online.

This quarter, respondents also were asked what they planned to purchase for Valentine's Day. Findings included:

January 19, 2011

The drive by Republicans to overturn the landmark health-reform legislation enacted last year threatens the health of as many as 129 million Americans with pre-existing conditions, the Obama administration’s top health official warned Tuesday.

WASHINGTON — The drive by Republicans to overturn the landmark health-reform legislation enacted last year threatens the health of as many as 129 million Americans with pre-existing conditions, the Obama administration’s top health official warned Tuesday.

January 12, 2011

Nearly half (48%) of Americans between the ages of 45 and 70 years have no financial plans in place to protect themselves against outliving their assets and the rising cost of health care, should they live longer than they expected, according to a survey released last week by the Society of Actuaries.

SCHAUMBURG, Ill. — Nearly half (48%) of Americans between the ages of 45 and 70 years have no financial plans in place to protect themselves against outliving their assets and the rising cost of health care, should they live longer than they expected, according to a survey released last week by the Society of Actuaries.

January 11, 2011

Marking its eighth consecutive year of dividend increases, CVS Caremark on Tuesday said its board of directors approved a near 43% increase of its quarterly dividend to 12.5 cents per share of common stock.

WOONSOCKET, R.I. — Marking its eighth consecutive year of dividend increases, CVS Caremark on Tuesday said its board of directors approved a near 43% increase of its quarterly dividend to 12.5 cents per share of common stock.

The dividend is payable Feb. 2 to holders of record on Jan. 21.

At its Analyst Day in October 2010, the company announced that it set a targeted dividend payout ratio of approximately 25% to 30% by 2015, which implied a compounded dividend growth rate of nearly 25% per year.

January 10, 2011

Aurora Health Care has appointed a Wisconsin state official as its SVP and CFO.

MILWAUKEE — Aurora Health Care has appointed a Wisconsin state official as its SVP and CFO.

The nonprofit health system, which runs Aurora Health Care Pharmacy in Wisconsin, announced the appointment of Gail Hanson to the two positions, replacing David Eager, who will continue with Aurora’s finance group under Hanson’s leadership.

January 5, 2011

MEDINA, Ohio — The family-owned-and-operated Discount Drug Mart added a line of wigs to its already deep presence within durable medical equipment for oncology patients. Discount Drug, which generated $530.6 million in 2009, is in its second year as an accredited provider under Medicare Part B.

January 4, 2011

Sears Holdings' SVP procurement and finance has been promoted.

HOFFMAN ESTATES, Ill. — Sears Holdings' SVP procurement and finance has been promoted.

Deidra Cheeks Merriwether now holds the title of SVP and president of retail services, succeeding James Haworth. In this role, Merriwether, who joined the corporation in 2001, will be responsible for the oversight and leadership of retail services for the broadline retailer's Kmart and Sears stores.

Merriwether currently serves as a member of Sears Canada's board of directors and is the executive sponsor of the company's African-American Associate Network.

January 4, 2011

Paris Presents, the maker of the EcoTools cosmetic and bath accessories line, has secured an investment from private equity firm Mason Wells.

GURNEE, Ill. — Paris Presents, the maker of the EcoTools cosmetic and bath accessories line, has secured an investment from private equity firm Mason Wells. Mason Wells, along with Paris Presents' existing management team and other investors, acquired the equity of the company from the Zall family.

December 16, 2010

A subsidiary of Pfizer has extended the expiration date of its tender offer to acquire all outstanding shares of common stock of King Pharmaceuticals.

NEW YORK — A subsidiary of Pfizer has extended the expiration date of its tender offer to acquire all outstanding shares of common stock of King Pharmaceuticals.

Parker Tennessee's tender offer now is scheduled to expire Jan. 21, as certain conditions to the tender offer wouldn't have been satisfied by the previously scheduled expiration date — which was Dec. 17 — including the expiration or earlier termination of any waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

December 14, 2010

Bankrupt grocer A&P has announced that the U.S. Bankruptcy Court for the Southern District of New York has approved the $800 million debtor-in-possession financing provided by JPMorgan Chase. Of the total DIP facility, a $350 million term loan immediately has been made available.

MONTVALE, N.J. — Bankrupt grocer A&P has announced that the U.S. Bankruptcy Court for the Southern District of New York has approved the $800 million debtor-in-possession financing provided by JPMorgan Chase. Of the total DIP facility, a $350 million term loan immediately has been made available.

As previously reported, A&P filed for bankruptcy on Sunday and will keep its 395 stores open and operational during the proceedings.

In addition, the court granted A&P's motion to approve its request for "first day orders," including:

December 8, 2010

Johnson & Johnson made its courtship with Dutch biotech company Crucell official by acquiring all of the company for $2.3 billion, the two companies said Wednesday.

NEW BRUNSWICK, N.J. — Johnson & Johnson made its courtship with Dutch biotech company Crucell official by acquiring all of the company for $2.3 billion, the two companies said Wednesday.

In a deal that won the full support of Crucell’s management, J&J will pay $32.74 per share for the remainder of Crucell that it doesn’t already own; J&J indirectly controls around 18% of Crucell’s stock through a Dutch affiliate, while Delta Lloyd Asset Management, Robeco and the Van Herk Group control around 15.5%, according to published reports.

December 8, 2010

Safeway's board of directors declared a regular quarterly cash dividend of 12 cents per share. The cash dividend will be payable on Jan. 13, 2011, to stockholders of record at the close of business on Dec. 23.

PLEASANTON, Calif. — Safeway's board of directors declared a regular quarterly cash dividend of 12 cents per share. The cash dividend will be payable on Jan. 13, 2011, to stockholders of record at the close of business on Dec. 23.

In related news, the retail chain's board also increased the authorized level of the company’s stock repurchase program by $1 billion to $7 billion. Through the end of third quarter 2010, Safeway repurchased approximately $5.2 billion of its stock and had approximately $800 million remaining under its stock repurchase program, Safeway said.

December 1, 2010

Regional specialty pharmacy chain ReCept has appointed several people to new executive positions, the company said Wednesday.

FORT WORTH, Texas — Regional specialty pharmacy chain ReCept has appointed several people to new executive positions, the company said Wednesday.

ReCept, which owns 15 stores in Texas and specializes in compounding pharmacy services for people with such conditions as HIV/AIDS and cancer, announced the appointments of Nicky Otts as chairman and CEO, Carmine DeNardo as president and COO, Rob Jarvis as EVP sales and chief marketing officer, Jeff Brumbaugh as chief information officer and Stephanie Romero as VP finance.

November 18, 2010

No matter how you slice it, the flexible spending account changes that are part of...

WHAT IT MEANS AND WHY IT’S IMPORTANT — No matter how you slice it, the flexible spending account changes that are part of the overall Affordable Care Act aren’t doing a whole lot by way of saving healthcare dollars, at least not for patients. Indeed, about the only benefactors are those folks who have to make dollars and cents out of what might become the first casualty of the Obamacare healthcare package — those who have to explain how the administration plans to pay for this package, you know, by not raising taxes.

November 15, 2010

A location-based retail app now is available for Target shoppers in select markets....

MINNEAPOLIS — A location-based retail app now is available for Target shoppers in select markets.

November 14, 2010

A panel of healthcare thought leaders has concluded that a recent IRS rule change going...

WASHINGTON — A panel of healthcare thought leaders has concluded that a recent IRS rule change going into effect Jan. 14, 2011, will demand retail system challenges that are operationally impossible to overcome in the limited time frame required.

And the National Association of Chain Drug Stores couldn’t agree more.

November 9, 2010

PNC Bank has made its branded automated teller machines available for customer use in 135...

INDIANAPOLIS PNC Bank has made its branded automated teller machines available for customer use in 135 CVS/pharmacy locations throughout Indiana.

The PNC-branded ATMs, which are owned and operated by Cardtronics, are accessible to all CVS/pharmacy customers. PNC Bank customers will enjoy surcharge-free withdrawals and the ability to check their balances at 135 stores identified with a PNC logo in the window, PNC said.

November 2, 2010

Retailers can look to last-minute holiday shoppers to bring in the big bucks, according to...

October 24, 2010

Many retail CFOs are adjusting their outlooks as the holiday season approaches, according to a...

October 24, 2010

Kroger announced that it has teamed up with U.S. Bank to offer credit cards and...

October 18, 2010

The National Association of Chain Drug Stores on Tuesday released a letter addressed to the...

October 12, 2010

Walgreens' board of directors on Wednesday announced the authorization of a new $1 billion share...

October 10, 2010

Your company’s ideas may be as valuable as your products. Many of today’s most relevant and distinct brands, such as Oakley sunglasses, Under Armour, Axe, Aveeno, Apple, Method, Stonyfield yogurt and Whole Foods, have one thing in common: Each of these brands may not be the largest in its category, but it is the best at creating emotional connections with its core consumer.

Your company’s ideas may be as valuable as your products.

Many of today’s most relevant and distinct brands, such as Oakley sunglasses, Under Armour, Axe, Aveeno, Apple, Method, Stonyfield yogurt and Whole Foods, have one thing in common: Each of these brands may not be the largest in its category, but it is the best at creating emotional connections with its core consumer. They are brands that are well positioned in the consumer’s mind and supported by an array of corporate assets—many of them intangible. What is their secret?

October 5, 2010

A few weeks after Johnson & Johnson announced it would purchase the remainder of Dutch...

NEW YORK A few weeks after Johnson & Johnson announced it would purchase the remainder of Dutch biotech firm Crucell it doesn't already own for about $2.4 billion, J&J received backing for the bid.

Crucell recommended the offer to the shareholders but not without receiving some criticism from shareholders Delta Lloyd Asset Management, Robeco and the Van Herk Group, which said the offer from J&J "undervalued" Crucell's worth. The fund managers jointly control at least 15.5% of Crucell, according to Reuters.