Sep 19, 2013

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Morning Movers: Rite Aid Corp. (NYSE:RAD) and Agilent Technologies (NYSE:A)

Morning Movers: Rite Aid Corp. (NYSE:RAD) and Agilent Technologies (NYSE:A)

Shares of Agilent Technologies (NYSE:A) jumped in the premarket session on Thursday in New York.

Agilent Technologies Inc. shares climbed up almost 10% as it reported that it would divide itself into two public firms. The initial firm would consist of the life sciences, diagnostics and applied markets operations and hold on to the Agilent name, while the second firm would be composed of the electronic-measurement products business. The agreement is predicted to end by the conclusion of 2014.

Rite Aid Corp. (NYSE:RAD) jumped to an unanticipated fiscal second-quarter profit, courtesy to persisted sales growth and robust margins.

Shares climbed up 11% to $4.10 in the latest premarket session, as the drugstore chain also lifted its outlook for the year. Till Wednesday’s ending, the stock has surged this year, consisting of a hike of 19% in the last three months.

This logs the fourth straight quarter in the black for Rite Aid after years of decline after its 2007 takeover of Brooks and Eckherd that loaded the firm with debt.

For the year, Rite Aid lifted its per-share earnings forecast to around 18 cents and 27 cents on sales of $25.1 billion to $25.3 billion and comparable store sales of plus or minus 0.5%.

The company’s formally lowered forecast had been for a per-share profit around a penny and 15 cents on sales of $24.9 billion to $25.3 billion and same-store sales of plus or minus 0.75%.

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