The stock market’s climb to record highs in 2024 leaves investors with few cheap stocks. In Nov. 2023, B. Riley (RILY) plunged. One of its companies, Franchise Group, faces fraud charges. B. Riley has a $500 million investment in the unit.
In its last dividend declaration, the financial firm slashed its dividend by 50% to $0.50 per share quarterly.
Watch RILY stock as the company gets an extension from lenders to file its financial report for 2023. It will post results on or before April 29, 2024. It is working with auditors to finalize the report.
In the drugstore segment, watch Walgreens Boots Alliance (WBA). The firm posted sales rising by 6.3% Y/Y to $37.1 billion. Its EPS of $1.20 is above the 82 cents a share consensus estimate.
Under new leadership, the firm may turn itself around. It has a new Chief Human Resources Officer and Chief Legal. In the quarter, it navigated through a tough U.S. retail environment by managing its costs. Looking ahead, the firm has efforts to optimize the pharmacy model, improve customer service, and execute its strategic plans. This should turn WBA stock around from the downtrend.
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