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Jim Cramer's Action Alerts PLUS

Cutting Back on Walgreens

By Jim Cramer and Jack Mohr | 2017-01-17 11:34:17.0
Actions Taken:
Symbol Action # Shares Traded Recent Price % of Portfolio* Shares Owned*
WBA Sell 150 $84.4 0.0325 1000

* Indicates results after trade.

We will trim our Walgreens (WBA:Nasdaq) position after you receive this Alert, selling 150 shares at roughly $84.40. Following the trade, WBA will represent approximately 3.25% of the portfolio.

Consistent with our commentary last week, we are trimming our WBA position in order to lessen our exposure to the name, which has been stuck in a range-bound trading pattern as investors await a decision on the impending merger with Rite Aid (RAD:NYSE). Last week, the New York Post reported the deal was nearing approval (our commentary is included in the Alert linked above), but we have seen similar reports over the past year that have proven to be unreliable. We discussed our view on the news in depth during last week's members-only call -- you can watch the replay on the video player at the top right of this page or on TheStreet Premium mobile app.

We simply want to take some off the table on today's upswing above $84 in order to both protect from a further drawn-out merger review process and also make room for additional shares should there be a meaningful pullback below $80. In addition, given increased confusion regarding border-tax policies -- discussed in our Danaher (DHR:NYSE) trader Alert this morning -- we find it prudent to take action today. We will continue to follow any news developments on the WBA front and keep members updated accordingly.

Regards,

Jim Cramer, Portfolio Manager & Jack Mohr, Director of Research
Action Alerts PLUS

DISCLOSURE: At the time of publication, Action Alerts PLUS was long WBA and DHR.

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Markets

Chart of I:DJI
DOW 19,826.77 -58.96 -0.30%
S&P 500 2,267.89 -6.75 -0.30%
NASDAQ 5,538.7270 -35.3890 -0.63%

Action Alerts PLUS Holdings

Holdings 1

Stocks we would buy right now

Symbol % Portfolio
Weighting
Industry
AAPL 0.03770222458872649 Consumer Durables
ADBE 0.03103536780169559 Computer Software & Services
AEP 0.024448973079335745 Utilities
AGN 0.04526144398822837 Drugs
APA 0.03868309547233564 Energy
ARNC 0.034964981779154726 Industrial
DHR 0.012400353623877482 Industrial
FB 0.04899373433089895 Internet
GE 0.02815578376819382 Industrial
GOOGL 0.047556528594798204 Internet
HPE 0.017387469022727725 Telecomm
MMP 0.008605992545603514 Energy
NWL 0.0329043866181977 Consumer Durables
NXPI 0.02431218756939494 Electronics
PEP 0.03915437327969472 Food & Beverage
TJX 0.045580801754434706 Retail
Holdings 2

Stocks we would buy on a pullback

Symbol % Portfolio
Weighting
Industry
C 0.039144794462471974 Banking
CMCSA 0.02780155910729669 Media
COST 0.025105696788127182 Retail
CSCO 0.03791947216333836 Computer Hardware
DOW 0.03240006189142015 Chemicals
KHC 0.026949427527161247 Food & Beverage
PNRA 0.02431218756939494 Leisure
SBUX 0.03888999792434694 Leisure
SLB 0.033115886902475924 Energy
WBA 0.032269119459985215 Retail
WFC 0.03915130805818344 Banking
Holdings 3

Stocks we would sell on strength

Symbol % Portfolio
Weighting
Industry
OXY 0.008015171099304568 Energy