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Egyptian pharma-tech startup Grinta is expanding into primary healthcare through its acquisition of Citi Clinic, a chain that serves over 150,000 patients. This strategic shift from B2B distribution to direct patient care is supported by funding from Beltone Venture Capital and Raed Ventures. Grinta also plans to establish a pharmacy chain in Tanzania and develop export partnerships with Egyptian pharmaceutical manufacturers.
Stocks plummeted as the Dow dropped 697 points following a robust jobs report, which heightened inflation expectations and dampened rate-cut hopes. Constellation Energy surged 25.2% after announcing a $26.6 billion acquisition of Calpine, while Walgreens Boots Alliance and Delta Air Lines saw significant stock increases after exceeding earnings expectations.
US stocks fell sharply on Friday, with the Dow Jones down 1.4%, the S&P 500 also down 1.4%, and the Nasdaq dropping 1.7%, erasing all year-to-date gains. The sell-off followed a robust jobs report showing over 250,000 jobs added in December and rising inflation expectations, prompting concerns about prolonged high interest rates. Despite some companies like Walgreens and Delta reporting strong earnings, Nvidia faced pressure due to anticipated chip export restrictions.
US stocks fell sharply on Friday, with the Dow down 1.3% and the Nasdaq dropping 1.6%, as a strong jobs report raised concerns about potential interest rate hikes. The economy added over 250,000 jobs in December, while unemployment fell to 4.1%, prompting fears of inflation. Despite the market downturn, companies like Walgreens and Delta reported positive earnings, with Walgreens shares soaring over 20%.
The Dow Jones Industrial Average plunged 600 points, or 1.4%, following a stronger-than-expected December jobs report, which showed 256,000 new jobs and a drop in the unemployment rate to 4.1%. Nvidia's shares fell 4% amid reports of impending restrictions on AI chips, while oil prices surged to their highest since October. Other notable stock movements included Constellation Brands dropping 4.2% and Delta Air Lines rising over 6%.
US stocks declined on Friday following a robust jobs report, with the Dow Jones falling 0.5%, the S&P 500 down 0.6%, and the Nasdaq Composite dropping 0.9%. The report revealed over 250,000 jobs added in December and a decrease in the unemployment rate to 4.1%, raising concerns about potential interest rate hikes by the Fed.Despite the market pullback, companies like Walgreens and Delta reported strong earnings, with Walgreens shares rising over 20% and Delta's stock jumping more than 9%. However, Nvidia faced pressure due to anticipated chip export restrictions from the White House.
U.S. stocks closed higher on Friday, but all major indexes posted weekly declines, with the S&P 500 marking its third loss in four weeks. This week, focus shifts to the U.S. employment report and the Federal Reserve's meeting minutes, while Advanced Micro Devices (AMD) is highlighted as a buy ahead of its CES 2025 GPU showcase, and Constellation Brands is recommended as a sell due to disappointing earnings.
Financial markets will close Thursday for the funeral of former President Jimmy Carter, leading to a shortened trading week. Key data releases include the December jobs report on Friday, FOMC meeting minutes on Wednesday, and various corporate earnings reports, notably from Delta Air Lines and Walgreens Boots Alliance. Investors will also focus on private-sector employment data and consumer sentiment updates throughout the week.
The Dow opened higher following the CPI inflation report, with the likelihood of a quarter-point rate cut by the Federal Open Market Committee on December 18 rising to 96.7%, up from 88.9%. Additionally, the odds of a half-point cut through January increased to 20.7%, while the chances of no cuts dropped to 2.6%.
Walgreens Boots is in talks for a sale to Sycamore Partners, while Domino’s bids for Wingston’s UK franchise. In a significant move, a federal judge blocked Kroger's $24.6bn merger with Albertsons, favoring antitrust regulators. Meanwhile, Evergrande's liquidation efforts face challenges as its assets are primarily in mainland China, complicating recovery for investors.
Walgreens Boots Alliance, Inc.
Companies
| Symbol | WBA |
| Name | Walgreens Boots Alliance, Inc. |
| Currency | USD |
| Sector | Health Care |
| IndustryGroup | Pharmaceuticals, Biotechnology & Life Sciences |
| Industry | Pharmaceuticals |
| Market | NASDAQ Global Select |
| Country | United States |
| State | IL |
| City | Deerfield |
| Zipcode | 60015 |
| Website | http://www.walgreensbootsalliance.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
grinta expands into primary care with acquisition of citi clinic
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