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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
Check below for free stories on CTRX;ESRX;CVS the last two weeks.
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September 15, 2014
09:59 EDTCVSOn The Fly: Analyst Upgrade Summary
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07:24 EDTCVSCVS Health upgraded at Cowen
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06:07 EDTCVSCVS Health upgraded to Outperform from Market Perform at Cowen
September 11, 2014
10:00 EDTESRXOn The Fly: Analyst Downgrade Summary
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05:30 EDTESRXExpress Scripts downgraded to Neutral from Buy at Goldman
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September 8, 2014
08:01 EDTCVSCVS Health completes purchase of Navarro Discount Pharmacy
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07:26 EDTCVSMorgan Stanley to hold a conference
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September 3, 2014
06:07 EDTCVSCVS to change name, end tobacco sales early
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06:04 EDTCVSCVS Caremark changes name to CVS Health
CVS Caremark announced that it is changing its corporate name to CVS Health to reflect its broader health care commitment and its expertise in driving the innovations needed to shape the future of health. Larry J. Merlo, president and CEO, CVS Health announced, "For our patients and customers, health is everything and CVS Health is changing the way health care is delivered to increase access, lower costs and improve quality. As a pharmacy innovation company at the forefront of a changing health care landscape, we are delivering breakthrough products and services, from advising on prescriptions to helping manage chronic and specialty conditions." CVS Health includes the company's retail business, which continues to be called CVS/pharmacy; its pharmacy benefit management business, which is known as CVS/caremark; its walk-in medical clinics, CVS/minuteclinic; and its growing specialty pharmacy services, CVS/specialty. With 7,700 retail pharmacies, 900 walk-in medical clinics, a leading pharmacy benefits manager with nearly 65M plan members, and expanding specialty pharmacy services, CVS Health enables people, businesses and communities to manage health in more affordable, effective ways.

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