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CVS Caremark's 4th-quarter profit jumps more than 12 per cent, 1st-quarter forecast rises

CVS Caremark shares outpaced the broader market Tuesday after the drugstore chain raised its earnings forecast for the start of 2014 and reassured investors that its business can absorb the financial hit coming from a decision to stop selling tobacco products. The Woonsocket, R.I., company also reported fourth-quarter earnings that climbed more than 12 per cent and edged past Wall Street expectations. CVS Caremark Corp. gained national attention last week after it promised to phase out sales of tobacco products from its more than 7,600 drugstores nationwide.

CVS Caremark's 3rd-quarter profit rises 25 per cent; drugstore operator raises 2013 forecast

CVS Caremark's third-quarter earnings climbed 25 per cent as generic drugs and an improving pharmacy benefits management business helped the drugstore chain beat Wall Street expectations. The Woonsocket, R.I., company also raised its 2013 earnings forecast when it announced results Tuesday morning. Investors pushed the company's shares to another all-time high price in trading.

Drugstore operator CVS Caremark's 2nd-Qtr profit climbs 16 per cent, guidance narrows

CVS Caremark Corp.'s second-quarter earnings jumped 16 per cent, as the drug store operator and pharmacy benefits manager continued to reap bottom-line gains from generic drugs. But the Woonsocket, R.I., company's shares slid Tuesday afternoon after it also dropped the top end of its 2013 earnings forecast a penny below the Wall Street consensus due to a delay in share buybacks, which can boost earnings per share by lowering the share count.

Stocks slide on Wall Street; IBM drops after Credit Suisse rating cut

NEW YORK, N.Y. - U.S. stocks are closing lower after retailers disappointed the market with weaker profit forecasts. Investors also worried that the Federal Reserve may be close to reducing its economic stimulus. The Dow fell 93 points, or 0.6 per cent, to close at 15,518 points Tuesday. The Standard The Nasdaq composite index fell 27 points, or 0.7 per cent, to 3,665. American Eagle slid 12 per cent to $17.57 after the teen retailer slashed its earnings forecast, blaming weak sales.

CVS Caremark's 1st quarter profit jumps 23 per cent, helped by impact from generic drugs

CVS Caremark's first-quarter net income jumped 23 per cent to top Wall Street's expectations, as generic drugs continued to improve profitability even though those prescriptions hurt revenue. Generic drugs, which are cheaper, copycat versions of brand-name medicines, help a drugstore's bottom line because they provide a wider margin between the cost for the pharmacy to purchase the drugs and the reimbursement received. But they hurt drugstore revenue because generics cost less than brand-name drugs.
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