Same-store prescriptions filled also rose 2.8% last month, while total monthly sales rose 6.1% from year-ago levels, to $5.37 billion. The company reported that overall same-store sales for the current fiscal year-to-date are up 1.9%. Walgreen shares rose 37 cents, or +1.2%, in morning trading Tuesday. We have avoided shares of WAG since our early June coverage began, when the stock was trading at $35.53. The company has a 1.45% dividend yield, based on last night's closing stock price of $31.14. The stock has technical support in the $26-$28 price area. If the shares can firm up, we see overhead resistance around the $33-$34 price levels. We would remain on the sidelines for now. Walgreen is not recommended at this time, holding a Dividend.com DARS Rating of 3.2 out of 5 stars.
American Express Prices $500 Million Share Offering
Credit card giant American Express ( AXP) joined the share offering party Tuesday, announcing it will sell about $500 million of its shares. The New York City-based company will price around 19.8 million shares of its common stock at $25.25 per share, which is less than a 1% discount from its Monday closing price of $25.99. After the sale is completed, the company will garner around $500 million in funds. American Express shares fell $1.41, or -5.5%, in late morning trading Tuesday. We continue to avoid shares of AXP, as we have since our early June coverage began, when the stock was trading at $44.65. The company has a dividend yield of 2.77%, based on last night's closing stock price of $25.99.