Rite Aid Strikes Deal to Hand Control to Creditors, Settle Opioid Claims

Rite Aid has reached preliminary agreements to transfer ownership of the bankrupt drugstore operator to its senior bondholders while settling certain lawsuits over its alleged role in overprescribing opioids, according to court papers filed Thursday. 


 
Semtech's stock pops after sales hike shows business has 'progressed from stable to growing'

Semtech Corp.'s stock initially soared 17% before cooling a bit in extended trading Thursday after the company rang up better-than-expected sales and strong sales guidance for its current quarter. 


 
Disney, Trian Blitz Shareholders for Votes in Last Stretch of Proxy Fight

Neuberger Berman supports Trian's slate, citing the company's succession woes. Others are backing Disney CEO Bob Iger. 


 
Federal Government Backs Tourists in Atlantic City Casino Hotel Suit

The case, originally brought in May 2023 by two tourists, named Caesars Entertainment and MGM Resorts International as defendants, among others. 


 
Home Depot Buys Roofing Distributor in $18 Billion Deal

The retailer said it would acquire SRS Distribution in a deal with a value of $18.25 billion, which includes assumed debt. 


 
First Medicare Health Plans to Start Paying for Weight-Loss Drug Wegovy

The first major U.S. health insurers have agreed to start paying for the popular anti-obesity drug Wegovy for certain people on Medicare with heart-related conditions. 


 
AMC Tumbles After Stock Sale Announced. The Box Office Downturn Is Biting.

The movie-theater chain says it will sell up to $250 million of stock through an at-the-market offering. 


 
Spotify to Add New Features for Universal Music Artists

As part of an expanded partnership, Spotify Technology will introduce new features that will help Universal Music artists promote new releases and better engage with their fans. 


 
Walgreens Boots Alliance Posts Higher 2Q Sales, Narrows Earnings Guidance

The pharmacy chain posted adjusted earnings of $1.20 a share, compared with analysts' expectations of 82 cents a share. 


 
Super Micro's AI Boom Carries a Big Price Tag

The maker of Nvidia-based AI servers has a hot hand, but a high-cost business model leaves the stock looking overheated.


(END) Dow Jones Newswires

03-28-24 1915ET