America Breaking News: Rite Aid Posts Third Straight Quarterly Profit

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America Breaking News: Rite Aid Posts Third Straight Quarterly Profit

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America Breaking News: Rite Aid Posts Third Straight Quarterly Profit

by Wochit 1:03 mins

America Breaking News: Rite Aid Posts Third Straight Quarterly Profit

by Wochit 1:03 mins

Rite Aid Corp , the No. 3 U.S. drugstore chain, posted its third consecutive quarterly profit, helped by sales of higher-margin generic drugs. The company earned $89.7 million, or 9 cents per share, in the fiscal first quarter ended June 1, versus a loss of $28 million, or 3 cents per share, a year earlier. Stock futures fell, adding to a more than 1 percent drop in U.S. equities a day earlier, after Federal Reserve Chairman Ben Bernanke outlined the start of a wind-down of stimuli that has been instrumental to the market's rally. Bernanke said that the U.S. economy was expanding strongly enough for the Federal Reserve to begin slowing the pace of its bond-buying stimulus later this year. FBI Director Robert Mueller testified that his agency has used drones, in a very limited capacity,to conduct surveillance within the United States.

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