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Fred's Inc. (FRED) Is Up Sharply After Sale Of Pharmacy Files To Walgreens

Fred's Inc. (FRED) announced Monday morning that it has agreed to sell pharmacy patient prescription files and related pharmacy inventory from 185 of its locations in the Southeast to Walgreens (WAG) for $165 million.

Fred's gapped open sharply higher this morning and is now up 0.82 at $2.46 on above average volume. The stock has jumped to a 2 1/2 month high.

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