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Stock Market & Financial Investment News

News Breaks
February 27, 2013
08:02 EDTCVSMinuteClinic signs clinical affiliation with North Shore-LIJ
MinuteClinic, the retail health care division of CVS Caremark, and North Shore-LIJ Health System have signed a clinical collaboration to enhance access to health care services in Nassau and Suffolk counties and the boroughs of Manhattan, Queens and Staten Island. Under the agreement, North Shore-LIJ physicians will serve as medical directors for MinuteClinic walk-in medical clinics open seven days a week inside two CVS/pharmacy stores in Bellport and Syosset, Long Island, and one on Staten Island. The agreement also includes plans for future clinics in the region as part of a national expansion that includes 150 new clinics in 2013 to reach a total of 1,500 clinics in the U.S. by 2017.
News For CVS From The Last 14 Days
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April 22, 2014
07:25 EDTCVSNatural E Creative Group to hold a summit
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April 21, 2014
14:24 EDTCVSCVS wants price competition to Gilead's hepatitis C drug, Bloomberg says
CVS said it may try to slow uptake of Gilead's new hepatitis C drug, which costs $1,000 per pill. Bloomberg cites an interview with CVS's CMO Troy Brennan.
April 10, 2014
11:23 EDTCVSRite Aid hits 52-week high after results, sales view top estimates
Shares of retail drugstore Rite Aid (RAD) are rallying after the company's fourth quarter results and fiscal 2015 revenue outlook topped analysts' consensus estimates. WHAT'S NEW: This morning, Rite Aid reported fourth quarter adjusted earnings per share of 10c and revenue of $6.6B, compared to expectations of 4c and $6.54B, respectively. Q4 same store sales increased 2.1%. Rite Aid forecast FY15 EPS of 31c-42c, compared to the consensus of 35c. FY15 revenue was seen at $26B-$26.5B, ahead of the consensus $25.75B. FY15 same-store sales are expected by the company to be up 2.5%-4.5%. WHAT'S NOTABLE: Rite Aid also announced it has acquired RediClinic, which currently operates 30 clinics in the greater Houston, Austin and San Antonio areas. Rite Aid CEO John Standley said, “Our recent acquisitions of Health Dialog and RediClinic, our expanded partnership with McKesson and our continued commitment to investing in our store base have positioned us to transition our strategy from turnaround to growth as we more aggressively pursue opportunities to become a growing retail healthcare company.” PRICE ACTION: In late morning trading, Rite Aid rose 71c, or about 11%, to $7.11 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $7.39. Including today's advance, the stock is up approximately 300% over the past twelve months. OTHERS TO WATCH: Other retail drugstore operators include Walgreen Company (WAG) and CVS Caremark (CVS).

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