Dow Component Prepares for First Earnings Call of 2024

Walgreens Boots Alliance is gearing up for earnings on Thursday, Jan. 4

Blue-chip name Walgreens Boots Alliance Inc (NASDAQ:WBA) is gearing up for its fiscal first-quarter earnings report, which is due out before the open on Thursday, Jan. 4. Below, we will explore the equity’s technical performance and previous post-earnings activity. 

On the charts, Walgreens Boots Alliance stock is still recovering from its late-November dip to record lows below the $20 area. The equity’s 180-day moving average — a long-term trendline of resistance — is keeping a lid on any attempted gains today. Last seen up 0.2% at $26.65, WBA is down 30.5% over the last 12 months.

WBA Chart December 272023

The security has a negative history of post-earnings reactions. Over the past two years, WBA finished five of these eight next-day sessions lower. Options traders are pricing in a 9.7% swing for the security this time around, which is much higher than the 5.8% move Walgreens Boots Alliance stock averaged after its last eight reports, regardless of direction. 

Options look like a good way to go when weighing in on WBA. Its Schaeffer’s Volatility Scorecard (SVS) of 88 out of 100 means the stock usually exceeds volatility expectations.

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