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Retail Distributors

  • WASHINGTON, Sept 8- U.S. wholesale inventories rose 0.6 percent in July as stocks for a variety of goods, including autos, posted gains. The Commerce Department said on Friday that wholesale inventories rose 0.6 percent, matching the rise in each of the previous two months. Slowing demand for autos has left manufacturers with an inventory glut, but economists say...

  • Sept 7- New Mexico on Thursday sued eight opioid manufacturers and wholesale distributors, becoming the latest state or local government to file a lawsuit seeking to hold corporations accountable for a national drug addiction epidemic. New Mexico Attorney General Hector Balderas accused Purdue Pharma LP, Johnson& Johnson, Allergan Plc, Endo International...

  • Sept 7- New Mexico on Thursday sued eight opioid manufacturers and wholesale distributors, becoming the latest state or local government to file a lawsuit seeking to hold corporations accountable for a national drug addiction epidemic. New Mexico Attorney General Hector Balderas accused Purdue Pharma LP, Johnson& Johnson, Allergan Plc, Endo International...

  • Sept 5- Fuel distributors and traders in Florida braced for a second supply shock as Hurricane Irma barreled toward the state on the heels of disruptions from Hurricane Harvey in Texas. Irma, described by forecasters as a potentially catastrophic Category 5 hurricane is forecast to reach southern Florida on Saturday, prompting Governor Rick Scott to declare...

  • CHICAGO, Aug 30- Chicago fuel distributor Olson Service Company snapped up gasoline this week to pre-empt a potential supply crunch in the third-most populous U.S. city as fuel supplies dry up from Texas because of Tropical Storm Harvey. On Tuesday, a major fuel artery from the Gulf Coast to Chicago shut down because there was no fuel to pump through it.

  • CHICAGO, Aug 30- Chicago fuel distributor Olson Service Company snapped up gasoline this week to pre-empt a potential supply crunch in the third-most populous U.S. city as fuel supplies dry up from Texas because of Tropical Storm Harvey. On Tuesday, a major fuel artery from the Gulf Coast to Chicago shut down because there was no fuel to pump through it.

  • The Commerce Department said on Monday the goods trade gap increased 1.7 percent to $65.1 billion last month. "Early on in the third-quarter data cycle, we think trade will be a slightly positive factor for growth during the quarter," said Daniel Silver, an economist at JPMorgan in New York. "The readings on consumer and capital goods imports are consistent with our...

  • Aug 22- Specialty pharmacy firm US Bioservices Corp has agreed to pay $13.4 million to settle U.S. government claims that it pushed patients to refill prescriptions of Novartis AG's iron overload drug Exjade in exchange for referrals from the Swiss drugmaker. US Bioservices, a unit of drug wholesaler AmerisourceBergen, agreed to pay $10.6 million to the...

  • *Second-quarter productivity rises at 0.9 percent rate. WASHINGTON, Aug 9- U.S. worker productivity rose more than expected in the second quarter as hours increased at their fastest pace in 1-1/ 2 years, keeping labor costs under control. The Labor Department said on Wednesday that nonfarm productivity, which measures hourly output per worker, increased at a 0.9...

  • WASHINGTON, Aug 9- U.S. wholesale inventories increased more than previously reported in June, recording their biggest gain in six months, as automobile stocks rose further amid declining sales. The Commerce Department said on Wednesday that wholesale inventories rose 0.7 percent after an unrevised 0.6 percent increase in May. The department reported last...

  • However, net income fell to $50.4 million, or 23 cents per share, in the third quarter ended June 30, from $349.2 million, or $1.55 per share, a year earlier. Operating expenses rose to $909.5 million from $579.2 million. Excluding items, the company earned $1.43 per share, beating analysts' average estimate of $1.37, according to Thomson Reuters I/B/E/S.

  • *Canadian dollar at C $1.2558 or 79.63 U.S. cents. "Today it's taking part in the broad dollar corrective move," said Bipan Rai, executive director and senior macro strategist at CIBC Capital Markets. "So I don't think it's anything endogenous to Canada itself."

  • *Core capital goods orders fall 0.1 percent in June. WASHINGTON, July 27- Shipments of key U.S.-made capital goods increased in June for a fifth straight month, suggesting that business spending on equipment helped to boost economic growth in the second quarter. The only risk we see is that the economy is running out of workers to do the heavy lifting and make us...

  • *Core capital goods orders fall 0.1 percent in June. WASHINGTON, July 27- New orders for key U.S.-made capital goods unexpectedly fell in June, but a fifth straight monthly increase in shipments suggested that business spending on equipment helped to boost economic growth in the second quarter. The only risk we see is that the economy is running out of workers to...

  • *Q1 adj. earnings of $2.46/ share vs est of $2.83/ share. *Raises fiscal 2018 earnings forecast to $11.80- $12.50/ share. "We entered this year with an assumption of branded inflation in the mid-single digits, and our first quarter experience was slightly ahead of this assumption," McKesson Chief Executive John Hammergren said.

  • *Canadian dollar at C $1.2481, or 80.12 U.S. cents. *Touches two-year high of C $1.2414, or 80.55 U.S. cents. TORONTO, July 27- The Canadian dollar touched a new two-year high against the greenback on Thursday before slipping in the wake of a slew of U.S. data that indicated an acceleration in growth during the second quarter.

  • WASHINGTON, July 27- New orders for key U.S.-made capital goods unexpectedly fell in June, but a fifth straight monthly increase in shipments suggested that business spending on equipment supported economic growth in the second quarter. The pick-up in gross domestic product, together with a tightening labor market, would likely keep the Federal Reserve on...

  • Leerink analyst David Larsen noted that the company's distribution business performance was a significant surprise given commentary around a stabilizing environment in independent pharmacy networks and improving sentiment around brand pricing. Net income attributable to McKesson fell to $309 million, or $1.45 per share, in the first quarter ended...

  • Net income attributable to McKesson fell to $309 million, or $1.45 per share, in the first quarter ended June 30, from $542 million, or $2.38 per share, a year earlier. Excluding items, the company earned $2.46 cents per share, below analysts' average estimate of $2.83, according to Thomson Reuters I/B/E/S. Revenue rose nearly 3 percent to $51.05 billion, missing...

  • July 27- Drug wholesaler McKesson Corp reported a 43 percent fall in quarterly profit due to slower increase in drug prices and intensifying competition. Net income attributable to McKesson fell to $309 million, or $1.45 per share, in the first quarter ended June 30, from $542 million, or $2.38 per share, a year earlier. Revenue rose to $51.05 billion from $49.73...