Walgreens partners with Prime Therapeutics for pharmacy network agreement, mail-service business

Walgreens Boots Alliance Inc. announced Monday that it has partnered with Prime Therapeutics, a pharmacy benefit manager owned by 14 Blue Cross and Blue Shield health plans, on a retail pharmacy network agreement and mail-service business. The alliance will bring Prime’s 22 million members preferred access to the Walgreens pharmacy network, including chances to save money when prescriptions are filled and an integration of pharmacy and health information. Walgreens will become Prime’s national preferred pharmacy network starting Jan. 1. The allied services will have its own board of directors and executive team, to be announced later this year. Walgreens shares are up 1.4% early Monday but are down 8% for the past year. The S&P 500 Index is up 9.5% for the last 12 months.

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From:: Stock Market News

Foreign hackers break into two state election systems

WASHINGTON (MarketWatch) – Hackers outside the U.S. allegedly accessed voter information in election databases in Illinois and Arizona, prompting an alert from the FBI, according to Yahoo News. Federal authorities have warned state officials to tighten their security and have offered FBI help to make their systems more secure. In Illinois, hackers downloaded personal data for as many as 200,000 voters, forcing the state to briefly shut down its voter registration system, Yahoo reported. The Arizona incident involved the introduction of malware. Government officials worry that foreign hackers may be trying to disrupt U.S. elections.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Starbucks to open first location in Trinidad and Tobago

Starbucks Corp. said Monday that it is opening its first cafe on the island of Trinidad. The new store in San Fernando adds to the company’s Caribbean presence. Starbucks opened its first store in the region in San Juan, Puerto Rico in 2002, and now also has locations in the Bahamas, Aruba and Curacao. Starbucks shares are down 0.5% in Monday trading, and down 5% for the year so far. The S&P 500 Index is up 6.5% for the year to date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Macy’s to air pre-New York Fashion Week show on the E! Network

Macy’s Inc. said Monday that it will air a one-hour primetime program on the E! Network on Thursday, September 15 ahead of New York Fashion Week. “Macy’s Presents Fashion’s Front Row” will feature musical performances by Ariana Grande and Flo Rida along with fashion and other entertainment, filmed at The Theater at Madison Square Garden on September 7. The retailer will also have in-store events in 25 markets across the country between September 15 and September 17, including Chicago, San Francisco and Miami. New York Fashion Week takes place September 8 through September 14. Macy’s shares are nearly flat in Monday trading, but down 34.6% for the last year. The S&P 500 Index is up 9.3% for the last 12 months.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. stocks open higher as investors weigh rate-hike prospects

U.S. stocks opened slightly higher on Monday as investors weighed the possibility of an interest-rate hike in the coming months. The S&P 500 gained 2 points, or less than 0.1% at 2,171. The Dow industrials added 42 points, or 0.2%, to 18,442. The Nasdaq Composite climbed 7 points, or 0.2%, to 5,226.

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From:: Stock Market News

ABC Supply to expand business with $670 mln acquisition of L&W Supply

ABC Supply on Monday said it has entered an agreement with USG Corp. to buy L&W Supply for $670 million in cash and is expected to close before the end of 2016. Selling off L&W Supply is expected to help USG reduce debt and reach its target leverage ratio. For ABC Supply, one of the country’s largest wholesale distributor of roofing, siding, windows and gutters, the acquisition expands its business and offers the ability to provide materials on the interior of buildings as well. L&W is one of the largest distributors of gypsum wallboard and suspended ceiling tiles. J.P. Morgan Securities and Goldman, Sachs & co. are serving as financial advisers to USG and RBC Capital Markets and Deutsche Bank are financial advisers for ABC Supply.

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From:: Stock Market News

Inovio launches Zika vaccine trial in Puerto Rico

Inovio Pharmaceuticals Inc. said Monday it has launched a trial of a Zika virus vaccine involving 160 patients in Puerto Rico. The vaccine is being developed with GeneOne Life Science Inc. and academics from the U.S. and Canada, who are also working on Inovio’s Ebola and MERS vaccines. The Center for Disease Control is expecting more than 25% of Puerto Ricans to contract Zika by year-end. “Inovio and its collaborators are moving ahead with this second Zika vaccine clinical trial to evaluate safety, immune responses, and possible signals of vaccine efficacy,” Inovio Chief Executive Joseph Kim said in a statement. Inovio shares were indicating higher in premarket trade, and are up 32% in the year so far, while the S&P 500 has gained 6%.

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From:: Stock Market News

FDA grants Roche Zika test emergency authorization

Swiss drug maker Roche Holding AG said on Monday the U.S. Food and Drug Administration has issued an “emergency use authorization” for the its Zika test in another step to tackle the virus that is spreading across the U.S. “The LightMix Zika test is an easy-to-use molecular diagnostic test that enables healhhcare professionals to quickly detect the virus,” said Uwe Oberlaender, Head of Roche molecular diagnostics, in a statement. The FDA on Friday told all U.S. blood banks to start screening for the Zika virus, a major expansion compared to previous guidelines. There have been nearly 2,500 cases of Zika in the U.S. linked to travel to outbreak areas and about 40 cases caused by mosquito bites in Florida.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Monday Morning Cup of Coffee: Judge tosses Ocwen, Altisource kickback lawsuit

It’d be pretty safe to say that Ocwen Financial struggled the past few years. But, the company got a little bit of good news last week, when a judge dismissed a lawsuit accusing Ocwen and Altisource Portfolio Solutions of overcharging homeowners for service. The question now becomes are the company’s next steps forward? Backward? Or right into the eye of another storm? All that and more in your Monday Morning Cup of Coffee. …read more

From:: Real Estate Wire

Market Conditions Improve Chances of Rate Hike, Says Yellen

By Susanne Dwyer

In a recent speech at Jackson Hole, Federal Reserve Chairwoman Janet Yellen supported the anticipation of two possible rate hikes this year, noting that the case for a rate hike has strengthened.

“In light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal-funds rate has strengthened in recent months,” Yellen said.

Job gains have averaged 190,000 over the past three months, and in addition to the rising labor market, experts believe that the “strengthening” Yellen points to could be based on the bolstered dollar and the recovery of economic confidence post-Brexit, which stalled rate predictions back in June.

Yellen commented heavily on the need to refresh the Fed’s toolkit in order to hold off the next recession. Friday’s release of the August jobs report will likely offer insight into when the next rate hike may occur.

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From:: Finance and Economy