Walgreens stock plummets on Q3 earnings miss and slashed guidance.

Walgreens Boots Alliance (WBA) warned that profits will be lower than expected due to declining demand for COVID-19 vaccines and a weakening consumer spending environment. The company administered 800,000 COVID-19 vaccines in the most recent quarter, an 83% decline from the same period last year. Walgreens cut its full-year adjusted earnings per share guidance to a range of $4.00-$4.05 from a range of $4.45-$4.65. The company attributed its troubles to the overall macro economy and a "more cautious and value-driven" consumer. Shares of Walgreens slumped nearly 10% on the news, closing at their lowest levels since 2010.