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: Source Type: news