Walgreen Beats Estimates, Investors Await News of Coming Merger

Walgreens, America's largest drugstore chain, reported earnings for their first quarter of 2015. Earnings of $0.81 beat estimates of $0.75 and were $0.09 higher than during the same period in the prior year. Sales of $19.6 billion was roughly on target with estimates but showed growth from the $18.3 billion reported last year. Walgreen's beat the overall retail market in year-over-year sales growth leading up to this holiday season. On December 29th the retailer will hold a vote in New York City on the second step of their merger with Alliance Boots regarding the potential for a holding company reorganization and the issuance of Walgreens Boots Alliance shares. Shares of Walgreens are up over 30% for the year. Whalen MacHale reports for TheStreet from New York.