TheStreet’s Jim Cramer is keeping an eye on Walgreens Boots Alliance (WBA) as the company prepares to post third quarter results on Thursday before the bell. Walgreens is a core holding in Cramer’s Action Alerts PLUS charitable trust portfolio. Cramer is watching Walgreens specifically because he says the company ‘is emblematic of the kind of company and stock that is working right now.’ Cramer says this is the case because Walgreens is a largely domestic company and is ‘really perceived as being a hiding place in light of the turmoil in China and the turmoil in Greece’ that is forcing some investors to dislike companies that get a larger portion of their revenues overseas. Cramer does posit that Walgreens has obviously gotten more international given its acquisition of Europe’s biggest pharmaceutical wholesaler Alliance Boots, back in 2014. Cramer even goes so far as to say that Walgreens earnings release will ‘set the pace even more than Alcoa (AA)… in terms of where the money is going’ coming into this earnings season. Analysts are expecting Walgreens to report earnings of $0.88 per share on revenue of $29.6 billion.
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