Volume Spike Investor

Rite Aid Corp. (NYSE: RAD) is a stock to watch for a volume spike this morning, after a close inspection of its mixed-bag results shows it was fairly positive relative to weak expectations.

The biggest positive is that Rite-Aid reaffirmed fiscal year sales and adjusted EBITDA guidance, and the company made progress in cleaning up its balance sheet, as well as boosting cash flow and liquidity. The Street may initially focus on a net loss that was slightly lower than expectation, and revenue for the quarter that was only in line.

But the overall picture looked positive. Provided the company doesn’t have very negative things to say about consumer demand on its conference call, the first-take is that it was a deceptively positive report.

Walgreen Co. (NYSE: WAG) and CVS (NYSE: CVS) may also be stocks to watch, depending on the tone of the Rite-Aid analyst call. — Mike Tarsala.