CVS drops $7B in market cap as it predicts rough year ahead
Coming off a $69 billion merger with national insurer Aetna, CVS is predicting a difficult year ahead, and investors aren ’t happy.
The stock lost nearly 8 percent on Wednesday — representing a loss of more than $7 billion in market capitalization — after the Rhode Island-based company (NYSE: CVS) reported fourth quarter earnings. The stock drop to $64.22 a share at the close of markets was the worst day for the company's shares since November 2016, according to CNBC.
The loss came after the…
Source: bizjournals.com Health Care:Physician Practices headlines - Category: American Health Authors: Jessica Bartlett Source Type: news
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