The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
Shares of McKesson plunged 22.67 percent Friday after the company posted earnings and revenue that missed forecasts.
The company also cut its outlook for the full-year amid recent drug pricing scrutiny in the U.S.
McKesson shares posted their worst session since April 1999 when it fell 47.5 percent.
The company reported fiscal second-quarter earnings on Thursday of $2.94 per share on revenue of $49.96 billion, missing expectations for $3.05 per share on sales of $51.43 billion.
The company lowered its full-year outlook to a range of between $12.35 a share and $12.85 a share, from a previous range of between $13.43 a share and $13.93 per share.
"Our updated outlook for fiscal 2017 reflects McKesson's expectation of a lower profit contribution resulting from recent customer pricing activities and lower operating profit as a result of further moderating branded pharmaceutical pricing trends compared to previous expectations," Chairman and CEO John Hammergren said in a statement.
Several firms on Friday downgraded the stock. RW Baird downgraded it to "neutral" from "outperform" with a price target of $164 from $200. Leerink Partners downgraded the stock to "market perform" from "outperform," pricing it at $160 from $230. And Deutsche Bank downgrades it to a "hold" from a "buy" and priced it at $153 from $196.
McKesson's stock is down 37 percent year-to-date.