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Stock Market & Financial Investment News

News Breaks
February 5, 2014
12:00 EDTCVS, PM, LO, MO, RAICVS 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
Check below for free stories on CVS;PM;LO;MO;RAI the last two weeks.
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September 22, 2014
07:58 EDTPMPhilip Morris estimates lowered on FX headwinds at Morgan Stanley
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September 19, 2014
09:53 EDTRAIRJ Reynolds Tobacco appoints Debra Crew Chief Commercial Officer
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07:22 EDTCVSNational Press Club holds a luncheon meeting
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September 18, 2014
11:55 EDTCVSRite Aid falls as drugstore chain trims FY15 view
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September 16, 2014
07:49 EDTMOBofA/Merrill to hold a conference
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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 10, 2014
16:00 EDTMOOptions Update; September 10, 2014
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05:41 EDTPMPhilip Morris raises dividend by 6.4% to $1.00 per share from 94c per share
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September 8, 2014
08:11 EDTMOAltria Group price target raised to $46 from $43 at Stifel
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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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