Wall Street takes a breather, Walgreens slumps on profit warning

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U.S. stocks opened flat on Tuesday, pausing after a three-day surge on Wall Street as investors looked for more signs of strength in the economy ...

REUTERS: U.S. stocks pulled back on Tuesday after a three-day surge, as a profit warning from drugstore chain Walgreens Boots hit the pharma sector, while investors looked for more signs of strength in the economy in the wake of growth worries.

"We had a pretty good rally yesterday and I think part of it was overdone," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. Drug retailer CVS Health Corp fell 2.5per cent, while drug wholesalers including McKesson Corp and AmerisourceBergen Corp dropped more than 1per cent.

 

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