Jan 20, 2017

Rite Aid stock cratering on concerns that FTC will block Walgreens merger

Rite Aid stock fell as much as 18.5% in morning trading after a Bloomberg report that the FTC is "worried" about the details of Walgreens planned buyout of its smaller rival. It's since pared about half of those losses.

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Data: Money.net; Chart: Andrew Witherspoon / Axios

Walgreens had planned to sell hundreds of its stores to regional pharmacy chain Fred's, but reports are that the FTC may not see these divestitures as bold enough to avoid antitrust concerns.

Why it matters: The Obama Administration ramped up antitrust oversight and one of the big question marks of the Trump Administration is whether it will get tough on mergers or take a more traditional Republican stance. The Walgreens-Rite Aid merger could be an important clue in this puzzle.

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Concern over coronavirus spread: Italy, South Korea and Iran report more cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The number of novel coronavirus cases in South Korea, Italy and Iran jumped on Sunday as infections in mainland China continued to grow, the latest figures show.

The big picture: As South Korea and Italy stepped up emergency measures amid rising case numbers, World Health Organization officials expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,619 people and infected almost 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperArrowUpdated 2 hours ago - Health

Sanders reveals free childcare plan for preschoolers

Democratic presidential candidate Sen. Bernie Sanders speaks during a campaign rally on Saturday in El Paso, Texas. Photo: Cengiz Yar/Getty Images

Democratic presidential candidate Sen. Bernie Sanders announced on CBS' "60 Minutes" Sunday a new plan to guarantee free child care and pre-kindergarten to all American children from infancy to age four.

Details: In the wide-ranging interview, Sanders told Anderson Cooper he planned to pay for universal childcare with a wealth tax. "It's taxes on billionaires," he said.

Go deeperArrowUpdated 3 hours ago - Politics & Policy

Joe Biden places second in Nevada caucuses, ahead of Pete Buttigieg

Democratic presidential candidate and former Vice President Joe Biden a Nevada Caucus watch party in Las Vegas on Saturday. Photo: Ronda Churchill/AFP via Getty Images

Former Vice President Joe Biden secured second place in the Nevada Democratic caucuses with former Southbend Mayor Pete Buttigieg third, according to NBC News projections Sunday.

Why it matters: It's a boost for Biden, who's widely tipped to be endorsed by House Majority Whip Jim Clyburn (D-S.C.) on Wednesday, ahead of this week's South Carolina primary.

Go deeperArrowUpdated 3 hours ago - Politics & Policy