Rite Aid struck on Amazon challenge; Intelsat falls on earnings, Bombardier recovers a little

By Paul Deckelman

New York, Oct. 26 – Rite Aid Corp. notes dropped by multiple points in trading Thursday amid news reports that internet retailing giant Amazon.com had received pharmaceutical wholesale licenses from a number of states, sparking investor fears that it could try to enter the drugstore market.

Similar fears of Amazon competition had sparked a fall in Staples, Inc. bonds on Tuesday and again on Wednesday – but those bonds were seen on the rebound on Thursday.

Intelsat SA’s notes fell, along with the communications satellite company’s shares, on disappointing third-quarter numbers.

And traders saw some improvement Thursday in aircraft maker Bombardier Inc.’s notes. On Wednesday, that paper had lost altitude across the board as the company said it is reviewing delivery plans for its new C-Series aircraft in light of problems with the separately manufactured engines, while rival Boeing Co. said it will continue to press its unfair trade practices case against Bombardier despite the recently announced deal to have Airbus take control of Bombardier’s C-Series aircraft program and do final assembly on the planes in Alabama.

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