What to Watch: June 19, 2012

Financial News Network
July 10, 2012 AT 9:16 PM
Good morning, welcome to the Financial News Network, your source for the latest business news. Here's a few things to watch for in the financial world today June 19.The Federal Reserve is meeting this week to discuss the U.S. economy and whether or not it will take action to stimulate it. With the favorable election results in Greece, the global economy is safe, for now anyway. But, U.S. regulators are still on high alert over the unstable financial crisis in Europe and could reveal a new plan after the two-day meeting ends on Wednesday. If the Fed does take action, it could be even bolder than Operation Twist, where the reserve sells shorter-term securities and buys longer-term bonds.FedEx (NYSE:FDX) reported its fourth quarter earnings morning. Excluding charges, the company posted an EPS of $1.99 per share, above the average analyst estimate of $1.92 per share. Revenue for the quarter rose 3.8% to $11 billion, just below estimates of $11.1 billion. Overall, the company's earnings slipped 1.4% from the previous year due to decreases in express shipping volumes. This hasn't deterred investors though, FedEx stock is currently up over 2% to $90.60.Finally, Walgreens (NYSE:WAG) picking up some more stock that could allow for another acquisition. The American drug store chain as agreed to buy a 45% stake in Alliance Boots, a European pharmacy. The deal come to $6.7 billion and would allow Walgreens to take full control of the company by 2015. If successful, it would create the largest pharmacy chain in the world, with more than 11,000 stores in 12 countries. That's what to watch for here on the Financial News Network. For more coverage and analysis of the business world check us out at or follow us on twitter @FNNOnline. I'm Chuck Pierce, thanks for watching.