Financial News

SUNBURY, Pa. — Weis Markets earlier this week reported a sales increase of 15.4% to $852.2 million in the first quarter. Comparable store sales, adjusting for the New Year's and Easter holiday shift in 2017, increased 1.1%, the company reported, representing the grocer's 12th consecutive quarter of increased comparable store sales.

During the 13-week period ended April 1, net income declined 41.2% to $11.8 million while earnings per share totaled $0.44 compared to $0.75 in 2016.

NEW YORK — Pfizer and Sangamo Therapeutics announced an exclusive, global collaboration and license agreement for the development and commercialization of gene therapy programs for Hemophilia A, including SB-525, which Sangamo expects will enter the clinic this quarter.

ZAANDAM, the Netherlands — Ahold Delhaize, parent company to several U.S. supermarket chains, including Stop & Shop, Giant, Food Lion and Hannaford, revealed in its 2017 first quarter in the United States, sales were impacted by continuing price deflation, adverse weather and the timing of Easter, but were offset by the delivery of strong synergy savings in the quarter.

DEERFIELD, Ill. — The clock for the Walgreens Boots Alliance and Rite Aid merger was definitively set Monday evening as the two companies announced that they have certified substantial compliance with the Federal Trade Commission's Request for Additional Information.

NEW HAVEN, Conn. — Biohaven Pharmaceutical Holding Co. commenced an IPO of 9.9 million common shares at an initial public offering price of $17 per share. In addition, Biohaven has granted the underwriters a 30-day option to purchase up to an additional 1,485,000 common shares at the initial public offering price, less underwriting discounts and commissions. The shares began trading on the New York Stock Exchange on May 4 under the ticker symbol “BHVN.”

ISSAQUAH, Wash. — Costco Wholesale reported net sales during April came in at $9.42 billion, an increase of 5% compared to the $8.98 billion it earned in the same month in 2016. The company noted it also had one fewer sales day due to the timing of Easter, which likely affected net and comparable sales by 1.5% to 2%.

CAMP HILL, Pa. — In a 10-K filing to the Securities and Exchange Commission Wednesday, Rite Aid expressed its belief that the proposed per share merger acquisition would likely fall to $6.50 per share, suggesting the divestiture of an additional 335 stores to secure approval from the Federal Trade Commission.

DUBLIN, Ohio — Cardinal Health shareholders are about to see their pockets get deeper.

Cardinal Health’s board of directors approved a 3% increase to the company's quarterly dividend. The dividend will increase from $0.4489 per share to $0.4624 per share and will be payable on July 15 to shareholders of record on July 3. 

The dividend increase means Cardinal Health’s stock provides approximately a 2.5% dividend yield based on its current price.