23 years on, people in the US and around the world are remembering the day when almost 3,000 people lost their lives in the September 11 terror attacks. Today we’re exploring:

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Squeezed by the rise of online pharmacies, falling reimbursement rates for prescription drugs, and giants like Amazon eating into their general retail sales, Walgreens investors have had a disappointing year — and nowhere does that show up more clearly than on the ticker tape.

Indeed, Walgreens (WBA) stock has now shed 63%+ of its value this year, more than any other in the S&P 500 Index, per data from FactSet. Some shareholders are even suing the company and its management, alleging that they breached their fiduciary duty by inflating Walgreens’ performance projections.

For the interactive graph, comparing stock performance across industries, visit here.

An Rx for Walgreens

So, how does Walgreens turn its ship around? In recent years the company was betting on getting closer to patients, spending more than $5 billion to acquire a majority stake in VillageMD in 2021, as part of an effort to turn its stores into primary-care destinations, as well as just being prescription fillers.

That didn’t really work. Indeed, in June Walgreens announced that it would be cutting its stake in VilageMD, after the company booked an eye-watering $5.8 billion write-down of its value earlier this year. It also said it would begin to dramatically slim its store portfolio, with as many as one-quarter of its 8,600 stores set to close.

But Walgreens’ new CEO, who was appointed last October, doesn’t have the luxury of lots of time on his side. Not just because the company faces a number of headwinds, but because it has billions of dollars of debt.

As of May 31, the company had $703 million of cash and cash equivalents on its balance sheet and $8.9 billion of interest-bearing debt.

But it also has hundreds of leases. These are, primarily, agreements for the stores, warehouses, office space, and distribution centers that it rents. Although they aren’t technically “debt,” they can behave a lot like it. And, once included, the company’s financial position looks very different. Indeed, all told, the company reported having “Lease adjusted net debt” of $29.8 billion at the end of May.

After more than 100 years, a few iconic pieces of art, and well over 20 billion cans of tomato soup, Campbell’s has decided it’s high time for a rebrand. The 155-year-old company, which officially became the Campbell Soup Company in 1922, is cropping the middle section of its name, as the brand continues to shift away from the product that made it famous.

The Campbell Company, as it will now be officially known, has built out its snack portfolio to make up a very healthy chunk of the business in recent years, with its popular Goldfish crackers as a key growth driver. In 2018, Campbell acquired Snyder’s-Lance (the company behind Kettle Chips and Snyder’s of Hanover) for ~$6.1 billion, and it’s been making most of its money from its snack division ever since, with snacks contributing $4.6 billion, or almost 50%, of the company’s sales in 2023.

Soup sales, by comparison, have gone a little cold over the same period: in 2015, the company’s famous cans added $2.8 billion to the top line, 8 years later it notched $2.7 billion.

Closing Tomorrow: Secure an 8% Dividend by Investing Before the Offering Ends on 9/12

Monogram (Nasdaq: MGRM), known for its autonomous robotic surgical systems, completed a crowd funded public offering and NASDAQ listing last year. What’s next?

They just filed for FDA approval* to market and commercialize their patented AI joint replacement tech. By the year 2027, 50% of knee replacement surgeries will be robotic. 

Now, Monogram’s offering a new chance for investors: the opportunity to invest in preferred stock with an 8% dividend (in cash or kind). 

Pulling a Buffett

At 68, Bill Gates is co-chair of one of the largest charitable foundations in the world; an advisor at Microsoft, the tech giant he co-founded almost 50 years ago; and (soon, at least,) the host of a new five-part Netflix documentary series. To him, stepping away from full-time work “sounds awful”.

In a recent interview with CNBC, the billionaire said that he aims to follow in the footsteps of his 94-year-old friend Warren Buffett and delay retirement — “at least 10 years… hopefully it’ll be more like 20 or 30”. Unsurprisingly, the majority of workers in the US don’t feel the same way. In fact, many Americans are looking to stop working earlier.

Feelin’ Sixty-Two

According to the Fed Reserve Bank of New York’s most recent analysis of the triannual Survey of Consumer Expectations, American workers thought there’d be a 46% chance that they’d still be working full-time when they were 62+, on average. That’s down significantly on the 58% likelihood that the survey reported back in 2016. Respondents also cut the likelihood to just 31% by the time they reach 67, 2 years younger than Gates will be in October.

While the thought of bowing out might not appeal to the former head of Microsoft, the reality of retirement actually comes as a pleasant surprise to millions of Americans, with 74% of retirees saying they’re financially comfortable in retirement, compared to just 45% who expected to be, per a recent Gallup poll.

Monogram (Nasdaq: MGRM) is offering the public preferred stock with an 8% dividend (in cash or kind) that’s convertible to its public stock. Learn more on their website.**

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Off the charts: Which 3 regional grocery store chains have kept their locations pretty concentrated, building local cult-like followings in the process? [Answer below].

Answer here.

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Advertiser’s disclosures:

* A filing for FDA approval is no guarantee of an actual FDA approval.

** This is a paid advertisement for Monogram Technologies Series D Preferred Stock offering. A prospectus supplement and accompanying base prospectus have been filed with the SEC. Before making any investment, you are urged to read the prospectus supplement and accompanying base prospectus carefully for a more complete understanding of the issuer and the offering. 

The securities offered by Monogram are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. There is no existing public trading market for the Series D Preferred Stock. Monogram does not intend to apply for listing of the Series D Preferred Stock or the common stock purchase warrants on a national securities exchange or quoted on an over the counter market.  

DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.

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