Diamonds and Dogs

6/28/18

Consultants like Accenture (ACN). The consulting, technology, and outsourcing firm rose 5% not far from a 52-week high following earnings. The company beats estimate by 7 cents as revenues rose 16.3% year to $10.31 billion. New bookings for the quarter beat estimates as gross margins came in at 32%. Accenture gave in-line guidance for the rest of the year.

So much for being added to the Dow. Walgreens Boots Alliance (WBA) is down over 10% following better than expected earnings, a boost to the dividend and a $10 billion share buyback. All great news, but Amazon buying acquiring PillPack, a pharmacy designed to provide the best possible customer experience in the U.S. for people who take multiple daily prescriptions, has shareholders hitting the sell button. Merrill downgraded the stock to Underperform from Neutral with a $60. Thanks for nothing.