Why Walgreen Shares Are Moving Higher Despite OK Q4 Earnings

Prescription drug sales helped Walgreen post its best quarterly sales figures in three years.
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Prescription drug sales helped Walgreen post its best quarterly sales figures in three years. Fiscal fourth quarter earnings came in at 74 cents per share, in line with analyst forecasts. The acquisition of the Alliance Boots chain in Europe added about 6 cents to the bottom line in the latest quarter. On the top line, the drugstore chain posted revenue of $19.06 billion in the fourth quarter, that was slightly better than Wall Street estimates. The country's biggest drug retailer said it filled 211 million prescriptions in the quarter, that was up a little more than 4% from a year ago. Walgreen shares are up roughly 9% over the past year, and up 4% since the beginning of 2014, that's compared to the Standard & Poor's 500 index which is up 7% for the same period. TheStreet's Ruben Ramirez reports from New York.