Connect with us

Hi, what are you looking for?

Stocks

CVS Shares Up Amid Great Earnings Results

CVS shares have shot up as the company’s second quarter earnings beat expectations.

Shares were up 5.6% Wednesday morning as the company beat Q2 expectations. CVS has managed to exceed earnings expectations while the company continues with the integration of Aetna, a health insurance company. Furthermore, the company followed up by increasing their full-year profit guidance for 2019 once again.

The report released by CVS came with an assurance to investors that the company is financially stable following their acquisition of Aetna for $70 billion in November of 2018. In the report CVS CEO Larry Merlo explains “While still early, we remain confident that we will be able to realize the potential of our innovative and powerful new business model to deliver enhanced value to our clients and the customers we serve.”

CVS closed on Tuesday at $54.09 per share, a 17% decrease for the year-to-date. While the company hasn’t been doing brilliantly recently, there are some ambitious projects underway. CVS plans to open 1500 locations for its new HealthHUB project by the end of 2021. About 50 of these stores are expected to be opened by the end of the year. The HealthHUB locations are coming as a part of Aetna’s integration with the pharmaceutical giant. The first three HealthHUB stores already opened up in Houston earlier this year.

You May Also Like

News

In the past year, Peloton, manufacturers of stationary exercise bicycles and treadmills, has been experiencing some severe financial difficulties. The company went through a...

News

While the ongoing supply chain problems affecting the global economy have had the expected effects, they’ve also had some decidedly unexpected effects. Specifically, many...

News

As gas prices continue to rise and consumer confidence drops, not to mention the ongoing war in Ukraine, the European economy is taking a...

News

As the environmental need for electric vehicles becomes more pressing, and the car-buying public becomes more eager for them, automotive manufacturers are getting ready...

News

This morning, Coinbase CEO Brian Armstrong sent a mass email out to his company informing everyone that, as stock and crypto prices slip and...

News

As Russia’s invasion of Ukraine continues, many global businesses have pulled their dealings out of Russian territories due to a mix of sanctions and...

News

In the last few weeks, fears have begun to surface of another potential recession striking the United States economy. Economists have been working to...

News

It’s no secret that the highs of the COVID-19 pandemic cost movie theater chain AMC an unprecedented amount of money. As people isolated at...