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Stock Market & Financial Investment News

News Breaks
February 5, 2014
12:00 EDTMO, CVS, LO, RAI, PMCVS 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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March 30, 2015
13:01 EDTRAIOptions with increasing volume
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10:59 EDTCVSUnitedHealth in 'ring' with largest competitors after deal, say Piper Jaffray
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10:12 EDTRAIHigh option volume stocks
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05:58 EDTRAIReynolds American implied volatility of 34 at upper end of index
March 29, 2015
16:28 EDTRAI, LOReynolds American, Lorillard to meet with FTC this week, WSJ says
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March 25, 2015
16:37 EDTCVSSpecialists On Call names Hammad Shah as CEO
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11:45 EDTCVSLeerink healthcare tech/pharma analysts hold analyst/industry conference call
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05:52 EDTPMStocks with implied volatility movement; VALE PM
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March 23, 2015
15:53 EDTLO, RAICapitol Forum: FTC timing agreement for Lorillard deal extended, Bloomberg says
Capitol Forum reported earlier, citing a person familiar with the matter, that the FTC timing agreement for the review of Reynolds American's (RAI) proposed acquisition of Lorillard (LO) has been extended by one week to March 31.
06:59 EDTRAI, PM, MOBig Tobacco accused of trying to dampen e-cigarette sales, Reuters says
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March 17, 2015
06:31 EDTCVSStudies find Gilead's hepatitis C drugs cost effective, Reuters says
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