Financial News

BENTONVILLE, Ark. — The Walmart Foundation has donated $5 million to the Meals On Wheels Association of America to help fight senior hunger in communities across the nation.

Through the grant, MOWAA will boost the efforts of senior nutrition programs, organizations that provide critical services to more than 6 million seniors in the United States currently facing the threat of hunger.

NEW YORK — A new report released this week unveiled the top go-to markets for retailers that are looking to boost their national presence.

In the ChainLinks/Terranomics' 2011 U.S. national retail report, the healthiest retail market in the nation was Washington, D.C., followed by San Francisco; New York; Boston; San Diego; San Jose/South Bay, Calif.; Baltimore; Philadelphia; Seattle and Pittsburgh.

NEW YORK — Colgate-Palmolive is bolstering its foothold in the European personal care market by acquiring from Unilever the Sanex personal care brand for about $940 million.

Sanex is a multicategory personal care brand with 2010 net sales of about $260 million, primarily in western Europe. Liquid body cleansing and deodorants each represent nearly 50% of the business.

The deal is structured as an all-cash acquisition for shares and net assets. The transaction is expected to close by the end of the second quarter this year.

GOODLETTSVILLE, Tenn. — Though Dollar General's fourth-quarter sales growth came in at slightly below analysts' expectations, the company still is considered a good investment.

"Overall, longer term, the stock remains one of our top picks given the company's robust store growth opportunity and strong execution of its merchandising and operational initiatives," according to analysts at Bernstein Research.

FRAZER, Pa. — Cephalon plans to acquire a privately owned company developing treatments for cancer, Cephalon said Monday.

The Frazer, Pa.-based drug maker said it would pay $225 million upfront for Malvern, Pa.-based Gemin X, and Gemin X stockholders would be eligible to receive up to $300 million in milestone payments related to products under development.

Gemin X specializes in cancer treatments that target and kill cancer cells. Its lead product is GX15-070 (obatoclax), currently in phase-2b clinical development as a treatment for small cell lung cancer.

NEW YORK — Private equity firm Leonard Green & Partners is considering an offer to acquire BJ’s Wholesale Club, according to a recent filing with the Securities and Exchange Commission.

Leonard Green, which already has a 9.3% ownership stake in the wholesale club operator, said in the SEC filing that it is examining confidential information provided by BJ's as it evaluates an offer.

BJ's revealed in February that it was considering putting the company on the sales block.

DEERFIELD, Ill. — Walgreens announced on Tuesday record sales and earnings for the second quarter as it celebrated a milestone of filling 1-in-every-5 retail prescriptions for the first time in the company's history.

Net earnings for the quarter were $739 million, or 80 cents per diluted share, compared with $669 million, or 68 cents per share, in the year-ago period.

DEERFIELD, Ill. — With record second-quarter sales and earnings under its belt, a grasp on 20.1% of the retail prescription drug market and a sharpened focus on core assets, Walgreens' executives expressed optimism on future growth — despite such external challenges as a soft economy and continued pressure on Medicaid reimbursement — and reiterated the company's focus on core strategies.