Business News

Today is the last trading day of the third quarter. Ahead of the open, the Dow was up 1.4% for the third quarter. The S&P 500 was up about 1%. The Nasdaq is up more than 2%, while the small-cap Russell 2000 has lost more than 6%. (CNBC)

US drugstore chain operator, Walgreen, reported a 6.2% rise in quarterly sales, helped by higher prescription sales. Prescription sales, which made up nearly two thirds of the company's total sales, rose 9.3%. The company reported a loss of $239 million due to the amendment and exercise of its Alliance Boots call option.  (Reuters)

FedEx (FDX) has approved the repurchase of up to 15 million shares or about 5.2% of its outstanding shares. The cost would be more than $2.4 billion based on the package delivery company’s current stock price. (Associated Press)

Fewer Americans signed contracts to buy homes in August, suggesting that real estate sales will remain sluggish over the next few months. The pending home sales index fell 1% over the past month. Higher prices and weak wage growth has limited buying, as the index is 2.2% below its level from a year ago. (Associated Press)




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