NEW YORK (TheStreet) -- Shares of Rite Aid Corp. (RAD) - Get Report are higher by 4.70% to $8.25 on heavy volume in late morning trading on Wednesday, as the drug store retailer joins up with American Express (AXP) - Get Report and several other brands to launch the first U.S.-based coalition loyalty program known as "Plenti."

Macy's (M) - Get Report, AT&T (T) - Get Report, and ExxonMobil (XOM) - Get Report are also joining American Express as it looks to give customers a new kind of rewards program that doesn't limit them to a single brand.

"Plenti" will officially launch in the spring and American Express is expecting to add more brands in a range of different categories.

"Recent research indicates that nearly three-quarters (72%) of Americans say they would prefer a rewards program that allows them to shop at many stores versus a single brand. Plenti is designed to address that need, giving consumers options to earn points and additional value through special offers and product discounts," American Express said in a statement.

Additionally, Rite Aid stock may also be getting a boost today as speculation resurfaces regarding a buyout offer from Walgreens Boots Alliance (WBA) - Get Report.

Last Week, Walgreens Boots Alliance stock gained after company CEO Stefano Pessina said that the company may make more deals in the healthcare sector and that its next big purchase will likely be in the U.S.

Insight from TheStreet's Research Team:

Henry Schwartz commented on Rite Aid in a recent Options Profits post. Here is what Schwartz had to say about the stock:

While global macroeconomic issues dominated headlines this week (Fed, Putin, Oil, Greece), much of the action in the options markets is decidedly micro-focused, with a number of names seeing significant amounts of heavy speculative trading in the form of upside call buyers opening new positions.

Top of the list is Rite Aid where call volume exploded in the first hour of the day as shares jumped.

This is not small potatoes speculative trading, this is millions of dollars of premium going into the April 9 strike. Earliest buys were at $0.15, but the lions share printed at $0.20-$0.25 as shares blew through the $8 handle. RAD has been a chatter name in the past (and was almost left for dead last fall around $4.50) and today's flow is remarkable in size and follow through, with implied volatility spiking nearly 13pts to 61%, the highest level seen in over a year.

-'Henry Schwartz Analysis: Micro-Focused, Massive Trades on Fed Day' Originally published on Options Profits on 3/18/2015

Want more news like this from Henry Schwartz and more of Wall Street's sharpest minds BEFORE your stock moves? Learn more about Options Profits now.

Separately, TheStreet Ratings team rates RITE AID CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate RITE AID CORP (RAD) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• RAD's revenue growth has slightly outpaced the industry average of 0.2%. Since the same quarter one year prior, revenues slightly increased by 5.3%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
• Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Despite the fact that it has already risen in the past year, there is currently no conclusive evidence that warrants the purchase or sale of this stock.
• The gross profit margin for RITE AID CORP is currently lower than what is desirable, coming in at 30.30%. Regardless of RAD's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 1.56% trails the industry average.
• Net operating cash flow has significantly decreased to $111.73 million or 54.21% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.
• You can view the full analysis from the report here: RAD Ratings Report