Walgreens has approval to buy Rite Aid
Walgreens has approval to buy Rite Aid. They will buy 1,932 Rite Aid stores for $4.38 billion. With the addition of the Rite Aid stores, Walgreens will have about 10,000 locations in the U.S.. Integration will begin in October and be completed in the spring of 2018. The remaining 1,200 Rite Aid stores will go to another buyer. (OregonLive)
The National Association of Realtors said existing home sales fell 1.7% in August. That is the fourth decline in five months. To blame is a lack of available homes to buy. The median existing-home price in August was $253,500, up 5.6%. Total housing inventory in August declined 2.1% and is 6.5% lower than a year ago.
Supermarket chain Albertsons, is buying meal-kit delivery service Plated. Financial terms of the deal were not disclosed. Albertsons says Plated meal kits will be offered at its stores, online, and through other distribution options. (Reuters)
The index of leading economic indicators increased 0.4% in August, more-than-expected. The index projects the economy in 6 to 12 months. It tracks 10 components, including manufacturers’ new orders, stock prices and average weekly initial claims for unemployment insurance. (CNBC)
The S&P 500 is down 2 and the NASDAQ is down 14. The MSCI international index is lower.
Oil is down 12 cents at $50.43 a barrel.
Gold is up $4 at $1298 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.