10 Stocks Firm Up Amid Cautious Trading

6. Walgreens Boots Alliance Inc. (NASDAQ:WBA)

Walgreens firmed up for a second day on Tuesday, adding 5.18 percent to close at $11.38 apiece, as investors continued to gobble up shares over brewing reports that its planned acquisition deal with Sycamore Partners is making progress.

On Monday, credit information provider Octus said in its social media handle on X that Morgan Stanley, UBS, and other private lenders are working on a $10 billion package to back Sycamore Partners’ potential buyout.

Recent reports earlier suggested that Sycamore and WBA’s negotiations remained alive after being considered mostly dead a few weeks ago.

Reports about the potential acquisition broke out in December last year, with the deal expected to be successfully closed this year.

According to the report, Sycamore “would likely sell off pieces of the business or work with partners.”

In October last year, WBA announced that it was closing around 1,200 stores over the next three years, including 500 for this year alone, as it scrambles to turn around its ailing business.