CVS Health Corp (CVS.N)
2 Dec 2016
Drugstore chain and pharmacy benefits manager CVS Health Corp cut its profit forecast for this year and projected weak growth for 2017, saying it expected to lose more than 40 million retail prescriptions to other pharmacy chains, sending its shares down as much as 17 percent to a more than two-year low. | Video
* Shares fall to a more than 2-year low (Adds Breakingviews link; updates shares)
* Q3 GAAP earnings per share $1.43 from continuing operations
* CVS Health executive says for Q4 2016 total same-store sales at retail are expected to be flat to down 1.75 percent -conf call
* In Q4 of 2016, expects to deliver gaap diluted EPS of $1.52 to $1.58 and adjusted EPS of $1.64 to $1.70
Nov 8 CVS Health Corp, the No. 2 U.S. drugstore chain by store count, reported a 15.5 percent rise in quarterly revenue, helped by strong demand for its pharmacy benefit management (PBM) services.
CVS Health Corp said it would cut about 600 jobs, mostly at its corporate offices in Rhode Island, Illinois and Arizona over the next two months, citing an increasingly competitive environment.
Nov 3 CVS Health Corp said it would cut about 600 jobs, mostly at its corporate offices in Rhode Island, Illinois and Arizona over the next two months, citing an increasingly competitive environment.
* CVS Health Corp - eliminating a small percentage of positions at CVS health in November and December 2016
* CVS Health Inc to eliminate 600 jobs - WSJ, citing statement