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Stock Market & Financial Investment News

News Breaks
February 27, 2014
11:29 EDTCTRX, ESRX, CVSCatamaran plunges after full year profit outlook trails expectations
Shares of Catamaran (CTRX), a provider of pharmacy benefit management services, are sinking after the company's fiscal 2014 profit outlook significantly trailed expectations. WHAT'S NEW: This morning, Catamaran reported fourth quarter earnings per share of 56c and revenue of $4.53B, topping expectations of 54c and $4.04B, respectively. The company forecast FY14 adjusted EPS of $2.04-$2.19, compared to consensus of $2.41. FY14 revenue was guided to $20B-$21B, versus consensus of $20.16B. ANALYST REACTION: This morning, analyst commentary was positive. Research firm Jefferies said weakness in the shares of Catamaran was a buying opportunity. The firm recommended buying the stock on weakness saying Catamaran is likely to sustain its strong top-line growth. Jefferies had a Buy rating on the stock with a $70 price target. Another firm, Leerink, said Catamaran's long-term growth drivers remained intact despite its weaker than expected 2014 outlook. It kept an Outperform rating on the stock. PRICE ACTION: In late morning trading, Catamaran fell $6.03, or about 11.6%, to $45.78 on nearly four times its average daily trading volume. Including today's slide, the stock has lost about 17% over the past twelve months. OTHERS TO WATCH: Other firms that provide pharmacy benefit management services include Express Scripts (ESRX) and CVS Caremark (CVS).
News For CTRX;ESRX;CVS From The Last 14 Days
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October 30, 2014
06:28 EDTCTRXCatamaran sees FY14 adjusted EPS $2.20-$2.25, consensus $2.21
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06:28 EDTCVSMajor merchant group could accept NFC technology, NY Times says
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06:27 EDTCTRXCatamaran reports Q3 adjusted EPS 58c, consensus 56c
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06:04 EDTCVSMCX says unauthorized parties obtained email addresses of CurrentC participants
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October 29, 2014
07:53 EDTCVSMCX member stores block Apple Pay amid threat of fines, NY Times says
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October 28, 2014
16:07 EDTESRXExpress Scripts sees Q4 adjusted EPS $1.36-$1.40, consensus $1.38
Sees Q4 adjusted claims 317M-337M.
16:06 EDTESRXExpress Scripts narrows FY14 EPS view to $4.86-$4.90, consensus $4.88
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16:05 EDTESRXExpress Scripts reports Q3 adjusted EPS $1.29, consensus $1.29
Reports Q3 revenue $25.78B, consensus $24.93B. Reports Q3 adjusted claims 328.3M.
07:21 EDTCVSCBI to hold a conference
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06:38 EDTCVSApple says Apple Pay in 220,000 locations already, Business Insider reports
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06:05 EDTCVSApple head responds as retailers bar Pay service, Reuters says
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October 27, 2014
13:03 EDTCVSCVS says 'cannot accept' Apple Pay at this time, CNBC says
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07:15 EDTCVSWal-Mart, Best Buy among companies rejecting Apple Pay, Business Insider says
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07:13 EDTCVSMinuteClinic enters into clinical collaboration agreement
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06:09 EDTCVSCVS may be disabling NFC to shut down Apple Pay, Google Wallet, MacRumors says
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October 22, 2014
09:23 EDTESRXExpress Scripts getting more aggressive on pricing, says Cleveland Research
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October 21, 2014
08:03 EDTCVSCVS offering drug plan with higher co-pay at stores selling tobacco, WSJ says
CVS Health (CVS), which stopped selling tobacco products last month, is now offering a prescription-drug plan via its pharmacy benefits unit Caremark that charges patients copayments that are up to $15 higher on prescriptions filled where tobacco is sold, which includes at rival pharmacies operated by Walgreen (WAG) and Rite-Aid (RAD), reported The Wall Street Journal. Reference Link

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