Apple, Walgreens, and McKesson Among Monday’s Market-Shaking Stocks

The markets have bounced back after opening in the red this morning, due to concerns that a Brexit might lead to potential chaos in the financial sector. The Dow Jones, S&P, and crude futures are all in the green, while the Nasdaq is only modestly lower. Among the stocks trending today are Walgreens Boots Alliance Inc (NASDAQ:WBA), Williams-Sonoma, Inc. (NYSE:WSM), McKesson Corporation (NYSE:MCK), Apple Inc. (NASDAQ:AAPL), and UnitedHealth Group Inc (NYSE:UNH). Let’s find out how and why traders are buying and selling these equities today and check in on what the world’s greatest investors think of each stock.

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Walgreens Breaks Up With Theranos

Theranos suffered another set-back after Walgreens Boots Alliance Inc (NASDAQ:WBA) terminated its relationship with the embattled blood-testing startup. Walgreens will close all 40 Theranos wellness centers in Arizona and the startup’s testing services will no longer be available at any Walgreens stores. The company decided to terminate the relationship after Theranos voided a number of test results and the Centers for Medicare and Medicaid Services rejected Theranos’ plan of correction. Walgreens Boots Alliance Inc (NASDAQ:WBA) shares are 0.25% in the green and were in the portfolios of 72 investment firms in our system at the end of March.

Bullish Write Up of Williams-Sonoma

According to a column published on June 11, writers at Barron’s are pretty bullish on Williams-Sonoma, Inc. (NYSE:WSM), whose shares are flat in morning trade. In the article, writer Avi Salzman notes that over half of Williams-Sonoma’s sales are generated online, making it more “Amazon-proof” than more traditional brick-and-mortar stores. Due to its larger internet operations, Mr. Salzman believes that the sell-off in Williams-Sonoma shares is unwarranted and that the retailer’s stock could soar by 25% or more in a year’s time. Cliff Asness‘ AQR Capital Management was a big shareholder of Williams-Sonoma, Inc. (NYSE:WSM) at the end of the first quarter.

On the next page we examine the latest activity concerning McKesson Corporation, Apple, and UnitedHealth Group.

Barron’s Likes McKesson Corporation 

Although McKesson Corporation (NYSE:MCK) isn’t the beneficiary of a Barron’s bounce today either, with its stock off by 0.46%, writers at the esteemed financial magazine think McKesson shares have 15% upside. The writers note that the sell-off in the drug wholesaler’s stock has caused its forward P/E ratio to trade for 15% below that of the S&P 500 index, when the company has traditionally kept pace with the index in terms of that metric. They also note that McKesson Corporation (NYSE:MCK) is targeting $300 million in cost cuts and savings and that management is buying back shares and making smart acquisitions. Of the 766 funds in our database, 66 owned McKesson holdings at the end of the first quarter, up by three from the close of the previous quarter.

Apple Trending on Developer Conference

Apple Inc. (NASDAQ:AAPL)‘s annual WWDC conference is kicking off today and traders are anticipating that the conference will focus on Siri and whether Apple will allow outside developers to build applications on top of the smart personal assistant. Analysts are also expecting Apple to revamp some of its software offerings, including updating Apple Music. With iPhone sales declining due to over-saturation and weakening economic conditions, Apple needs more innovation in its software to grow its profits again. Apple Inc. (NASDAQ:AAPL) is down by 1% in morning trading and was in the portfolios of 152 of the funds in our database at the end of March.

UnitedHealth Tries to Facilitate More Kidney Donations

UnitedHealth Group Inc (NYSE:UNH) said over the weekend that it will pay up to $5,000 for travel and lodging expenses for people who are donating kidneys to its customers, beginning in 2017. Kidneys are in short supply relative to demand, and kidney donations will help UnitedHealth save money in the long run. A typical kidney transplant costs $150,000 and dialysis for a person in need of a kidney transplant costs $260,000 per year. UnitedHealth Group Inc (NYSE:UNH) shares are slightly in the red this morning. 50 funds that we track owned shares of UnitedHealth as of the most recent 13F reporting period.

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