Tag: $CVS

CVS Health’s board has engaged advisors to conduct a strategic review of its business, according to people familiar with the matter, as the company contends with potential activist pressure and a severely depressed stock price.

Glenview Capital, a major CVS Health shareholder, is expected to meet with company leadership on Monday to lay out proposed fixes for the struggling business, according to people familiar with the matter, a potential precursor to an activist push.

CVS Health on Wednesday reported second-quarter earnings that topped expectations, but slashed its full-year profit outlook, citing higher medical costs that have been squeezing the U.S. insurance industry

CVS Health stock tumbled Wednesday after pharmacy chain missed Wall Street’s expectations for quarterly earnings and dramatically slashed its full-year financial guidance. To blame was soaring Medicare Advantage costs that have similarly slammed its peers.

Shares of CVS Health Corp. gained ground Wednesday, after the healthcare-services and drugstore chain beat fourth-quarter profit expectations by a wide margin, but lowered its full-year outlook because of “elevated medical cost trends.”

Investors didn’t seem pleased with a solid earnings and revenue beat from CVS Health with shares in the healthcare company heading lower on Wednesday after the company slashed its full-year guidance for the third consecutive quarter.

CVS Health  stock fell Thursday on a report that a major health insurer will drop its pharmacy-benefit management service in favor of a system partially operated by Amazon.com.  

CVS Health CVS –0.99% on Wednesday reported second-quarter earnings that beat analysts’ expectations.

CVS Health Corp. will slash about 5,000 jobs in a cost-cutting move, the Wall Street Journal reported Monday night. According to the report, the layoffs are primarily in corporate positions, and the company doesn’t expect customer-facing positions in its stores, clinics and pharmacies to be affected.