Why Walgreens Boots Alliance Stock Is Sinking Today

Shares of Walgreens Boots Alliance (WBA -7.04%) were sinking 6.5% lower at 11:10 a.m. ET on Thursday and had been down as much as 11.7% earlier in the morning. The decline came after the pharmacy retailer and wholesaler announced its fiscal 2024 first-quarter results and reduced its dividend payout by 48%.Walgreens' fiscal Q1 revenue of $36.7 billion was better than the consensus Wall Street estimate of nearly$34.9 billion. Its adjusted earnings per share of $0.66 also topped the average analysts' estimate ...