Rite Aid: No Profit Today, No Profit Tomorrow

Stock price added.

Close, as we all know, is good only in horseshoes, handgrenades and hydrogen bombs. But will the market reward Rite Aid (RAD Quote) today for getting closer to profit, despite not actually achieving it -- or, for that matter, planning on achieving it anytime soon?

The answer is yes. Shares of Rite Aid jumped 4% to $1.31 in morning trading.

The drugstore announced this morning that it narrowed its loss in the first quarter -- but said it actually expects a greater deficit for the year because of refinancing expenses. ...