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Stock Market & Financial Investment News

News Breaks
February 5, 2014
12:00 EDTLO, RAI, PM, MO, CVSCVS plans to stop selling cigarettes and other tobacco products
CVS Caremark (CVS) earlier today announced its decision to cease selling tobacco at all locations starting October 1. WHAT'S NOTABLE: CVS Caremark said its choice to exit the tobacco category does not affect the company's 2014 segment operating profit guidance, 2014 earnings per share guidance, or the company's five-year financial projections. The company estimates that it will lose approximately $2B in revenues on an annual basis from the tobacco shopper, equating to approximately 17c per share. Given the anticipated timing for implementation of this change, the impact to 2014 earnings per share is expected to be in the range of 6c-9c per share. The company has identified incremental opportunities that are expected to offset the profitability impact, CVS added. WHAT'S NOTABLE: Deutsche Bank believes CVS Caremark's decision to stop selling tobacco products is in-line with its strategy to become more of a healthcare services company. Deutsche thinks the move could improve CVS' competitive positioning and it keeps a Hold rating on the stock. PRICE ACTION: During late morning trading, shares of CVS Caremark were down 1.5% to trade near $65. Like the broader S&P 500, shares of a number of tobacco product makers were generally lower. Philip Morris (PM) fell 0.88% to $76.20, Reynolds American (RAI) fell 0.7% to $47.17, Lorillard (LO) fell 2.5% to $47.64 and Altria Group (MO) fell 1.2% to $34.02.
News For CVS;PM;LO;MO;RAI From The Last 14 Days
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August 27, 2015
20:06 EDTRAIFDA issues warning letter to Reynolds American, others over tobacco packaging
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19:14 EDTCVSExpress Scripts to cover both Repatha, Praluent for now, Bloomberg says
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08:32 EDTCVSCVS Health enters into two new clinical affiliations
CVS Health has entered into new clinical affiliations with two health systems, St. Luke's University Health Network in Bethlehem, Pennsylvania and TriHealth in Cincinnati, Ohio. Through these clinical affiliations, CVS Health will provide prescription and visit information to the participating health care organizations.
August 26, 2015
08:32 EDTCVSCVS Health to partner with telehealth providers to improve patient care
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August 25, 2015
16:01 EDTCVSTarget sees $550M pretax gain after closing CVS transaction
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August 24, 2015
06:17 EDTRAI, PM, MOTobacco groups consolidate brands to maintain customers, WSJ reports
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August 21, 2015
12:04 EDTMOOn The Fly: Top stock stories at midday
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11:01 EDTMOAltria Group increases quarterly dividend 8.7%
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August 19, 2015
16:00 EDTCVSTarget shares driven higher after earnings, cool after hot open
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11:03 EDTCVSTarget says sees Q3 SSS up 1%-2%
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August 18, 2015
13:01 EDTCVSEarnings Watch: Target to report Q2 results after management changes
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10:09 EDTCVSCVS Health completes Omnicare acquisition for total enterprise value of $12.9B
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August 17, 2015
07:13 EDTPMPhilip Morris should be bought at current levels, says Wells Fargo
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