US03073E1055 - Common Stock
The US market is yet to commence its session on Friday, but let's get a preview of the pre-market session and explore the top S&P500 gainers and losers driving the early market movements.
The Relative Strength (RS) Rating for McKesson stock jumped into a new percentile Wednesday, as it got a lift from 70 to 75.
In a welcome move, Cardinal Health stock saw its Relative Strength (RS) Rating rise from 65 to 71 on Friday.
The retail pharmacy giant faces ever-mounting headwinds.
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(Reuters) -The three largest U.S. drug distributors have agreed to pay $300 million to resolve claims by health insurers and benefit plans that they helped fuel the deadly U.S. opioid epidemic, according to court papers filed on Friday. The proposed class action settlement with McKesson Corp, Cencora Inc and Cardinal Health Inc was disclosed in a filing in federal court in Cleveland, Ohio, and requires a judge's approval. Paul Geller, a lawyer for the plaintiffs, said in a statement that Friday's deal covered third-party payers like union funds that "largely paid for the overprescribed and overmarketed pills and for the treatment required when their plan beneficiaries inevitably suffered opioid use disorder."
There are plenty of red flags surrounding the business.
McKesson earnings beat estimates, but the drug and health supplies distribution giant badly missed sales estimates. MCK stock dived.
COR stock results show that Cencora beat analyst estimates for earnings per share and beat on revenue for the third quarter of 2024.