Why did wba stock go down today

Walgreens Boots Alliance (WBA) stock decline can be attributed to several factors:

1. Earnings Miss: Walgreens Boots Alliance reported third-quarter fiscal year 2024 sales of $36.35 billion, which beat the consensus of $36 billion. However, adjusted operating income was $613 million, a decrease of 36.3% on a constant currency basis, and adjusted EPS was $0.63, down 36.6% on both a reported and constant currency basis, missing the consensus of $0.71. This earnings miss could have negatively impacted investor sentiment.
2. Guidance Reduction: The company lowered its 2024 guidance below consensus estimates, reflecting challenging pharmacy industry trends and a worse-than-expected U.S. consumer environment. This guidance reduction suggests that the company's future performance may not meet market expectations, leading to a decline in stock price.
3. Sector Performance: The Consumer Staples sector, which WBA operates in, has faced challenges with revenue growth and has been affected by inflation and consumer spending environment. The sector's performance can impact WBA's stock price as it reflects the overall health of the industry.

In conclusion, the decline in WBA stock is likely a result of a combination of company-specific factors (earnings miss, guidance reduction) and the broader sector performance.