Stocks End Slightly Higher: Walgreen and CVS Reach PBM Agreement

O:8:"stdClass":52:{s:2:"id";s:5:"42114";s:3:"pid";s:1:"0";s:5:"pr_id";s:21:"42114-1276998920.html";s:6:"pr_url";s:81:"42114-1276998920-stocks-end-slightly-higher-walgreen-cvs-reach-pbm-agreement.html";s:7:"pr_body";s:1805:"Positive sentiment also flowed through the markets from the announcement of European bank stress tests. E.U. leaders say they will reveal the tests' results by the end of July.

Meanwhile, despite a small daily decline, the euro posted its best weekly advance versus the dollar in nine months. The dollar index also moved up slightly to 85.7 from 85.6 posted on Thursday.

The Dow finished 0.2% higher, while the S&P 500 and Nasdaq ended 0.1% higher.

CVS Caremark (CVS) and  Walgreen (WAG) ended a roughly week-and-a-half long spat on Friday and announced an agreement on new terms under which Walgreen will continue participating in CVS Caremark's pharmacy benefit management network. Although financial terms of the deal weren't disclosed, Helene Wolk, an analyst at Sanford C. Bernstein, suspects Walgreen may have received some sort of payment from CVS Caremark to resolve the dispute. CVS' shares ended 1.9% higher, while Walgreen's shares finished up 2.7%.

Moody's Investors Service Friday downgraded  BP's credit rating three notches as costs and exposure to litigation from the Gulf of Mexico oil spill continue to mount. This is the third recent hit on BP's rating. Moody's lowered BP's senior unsecured ratings to A2 from Aa2, after a June 3 downgrade to Aa2 from Aa1. BP's shares dropped 0.3% Friday.

Adolor (ADLR) announced disappointing Phase II trial results for its two pain compounds, ADL5859 and ADL5747, which did not show a statistically significant improvement from placebo in reducing pain in patients with osteoarthritis.

Morningstar analyst Meera Venu does not believe Adolor or its partner  Pfizer (PFE) will move these compounds ahead in this indication. Shares for Adolor fell 9.3%, while Pfizer's ended down 1.8%, by Kevin O'Shaughnessy, Morningstar.com.";s:20:"pr_about_the_company";s:0:"";s:6:"pr_img";s:0:"";s:10:"pr_img_alt";N;s:11:"pr_img_info";s:0:"";s:10:"pr_anchors";s:72:"a:3:{i:0;a:2:{i:0;N;i:1;N;}i:1;a:2:{i:0;N;i:1;N;}i:2;a:2:{i:0;N;i:1;N;}}";s:10:"pr_summary";s:115:"Stocks ended slightly higher Friday, but experienced lower volume than usual for a quarterly option-expiration day.";s:8:"pr_title";s:65:"Stocks End Slightly Higher:  Walgreen and CVS Reach PBM Agreement";s:11:"pr_category";s:7:"finance";s:12:"pr_embedcode";s:0:"";s:19:"dateline_city_state";N;s:15:"dateline_source";N;s:8:"pr_state";s:2:"Va";s:7:"pr_city";s:12:"Newport News";s:10:"pr_country";s:13:"United States";s:6:"pr_zip";s:5:"23606";s:10:"media_name";s:15:"Billy A. Miller";s:12:"company_name";N;s:11:"media_phone";s:12:"757-927-3760";s:10:"media_addr";s:19:"1000 Jefferson Ave.";s:11:"media_email";s:19:"stocksnet@yahoo.com";s:9:"media_url";s:24:"http://seo--services.net";s:7:"pr_type";s:4:"free";s:10:"pr_payment";s:4:"done";s:6:"userid";s:4:"2730";s:7:"pr_date";s:10:"1276998886";s:11:"pr_approved";s:10:"1277037031";s:11:"is_approved";s:3:"yes";s:8:"shorturl";s:0:"";s:8:"pr_audio";s:0:"";s:8:"pr_files";s:6:"a:0:{}";s:5:"draft";s:1:"0";s:9:"docstocid";s:0:"";s:10:"iframe_url";s:0:"";s:14:"note_to_editor";s:0:"";s:14:"disable_iframe";s:3:"yes";s:10:"as_soon_as";s:0:"";s:14:"scheduled_time";s:1:"0";s:6:"quotes";s:0:"";s:4:"live";s:3:"yes";s:12:"email_status";s:3:"old";s:18:"is_unresponsive_pr";s:1:"0";s:22:"user_last_updated_date";s:10:"1298666920";s:17:"facebook_page_url";N;s:19:"show_facebook_feeds";s:2:"no";s:14:"twitter_id_url";N;s:18:"show_twitter_feeds";s:2:"no";s:21:"editorial_suggestions";s:1:"0";}

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Stocks ended slightly higher Friday, but experienced lower volume than usual for a quarterly option-expiration day.

Online PR News – 20-June-2010 –Positive sentiment also flowed through the markets from the announcement of European bank stress tests. E.U. leaders say they will reveal the tests' results by the end of July.

Meanwhile, despite a small daily decline, the euro posted its best weekly advance versus the dollar in nine months. The dollar index also moved up slightly to 85.7 from 85.6 posted on Thursday.

The Dow finished 0.2% higher, while the S&P 500 and Nasdaq ended 0.1% higher.

CVS Caremark (CVS) and Walgreen (WAG) ended a roughly week-and-a-half long spat on Friday and announced an agreement on new terms under which Walgreen will continue participating in CVS Caremark's pharmacy benefit management network. Although financial terms of the deal weren't disclosed, Helene Wolk, an analyst at Sanford C. Bernstein, suspects Walgreen may have received some sort of payment from CVS Caremark to resolve the dispute. CVS' shares ended 1.9% higher, while Walgreen's shares finished up 2.7%.

Moody's Investors Service Friday downgraded BP's credit rating three notches as costs and exposure to litigation from the Gulf of Mexico oil spill continue to mount. This is the third recent hit on BP's rating. Moody's lowered BP's senior unsecured ratings to A2 from Aa2, after a June 3 downgrade to Aa2 from Aa1. BP's shares dropped 0.3% Friday.

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