Things are finally hitting the fan for Walgreens (WBA - Get Report) . It was one one thing when reports hint that tech giant Amazon (AMZN - Get Report)  is looking to get into healthcare. It was another when Amazon's founder, Jeff Bezos, says he's teaming up with arguably the most successful investor of all time in Warren Buffett and one of the brightest minds in finance in JPMorgan's (JPM - Get Report)  Jamie Dimon to tackle healthcare. Now, it's an entirely different ball game when Amazon actually makes a deal in healthcare and threatens one of the life bloods of Walgreens' businesses in drug sales. So on Thursday as Amazon announced its intention to acquire PillPack, a drug delivery company, Walgreens took it on the chin even though it simultaneously announced a profit growth. Shares of the drugstore chain dropped almost 10% on Thursday. Comparatively, they only fell 6% during the five days following the Bezos-Buffett-Dimon announcement.

Sports is big business, but theatre and live entertainment may not be so much. So seems to be the case at Madison Square Garden Co. (MSG - Get Report)  as the company announced plans to explore a spinoff of its sports assets: New York Knicks National Basketball Association franchise and the Rangers of the National Hockey League. The remaining live entertainment company would include the company's Madison Square Garden venue as well as Radio City Music Hall, Beacon Theater, the Forum in Inglewood, Calif., as well as other businesses, including MSG Productions, which includes the Radio City Rockettes. The company has a market cap of about $7 billion, but its holdings in the Knicks alone are valued at above $3 billion, according to Wall Street analysts, meaning almost half the company's value is tied up in one asset. The argument is you could unlock even more value by separating the sports franchises, which continue to appreciate in value from the legacy theater and entertainment businesses. Investors seem to agree as MSG closed up more than 14%.

Markets today: Stocks ended higher on Thursday as investors continued to count the cost of trade tariffs and protectionism among the world's biggest economies. Sentiment was soured a bit by signals that growth was starting to slow because of the tit-for-tat trade wars that have escalated since early March, and a statement from Donald Trump's top economic adviser that Trump was "not retreating" in his approach to trade with China. The Dow Jones Industrial Average rose 99 points, while the Nasdaq and S&P 500 also finished in the black.

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