Six years ago, Walgreens announced a merger with Boots and told investors that it would make at least $9 billion in profit in 2016. Finally, in August 2014, two years after it first announced the Boots merger, Walgreens admitted it wouldn't meet its profit forecast. It drastically cut its 2016 adjusted operating profit target down to $7.2 billion, shocking investors. According to the SEC, Walgreens' (WBA) internal forecasts said management knew the risk of missing the 2016 projection had increased "significantly." Walgreens' stock was unchanged on the news.

Source: CNN September 28, 2018 16:07 UTC