“CVS shares plummet as health company slashes profit outlook on higher medical costs”
May 7, 2024
“CVS Health on Wednesday reported first-quarter revenue and adjusted earnings that missed expectations and slashed its full-year profit outlook, citing higher medical costs that are dogging the U.S. insurance industry.
Shares of the company closed more than 16% lower on Wednesday, and were headed for their worst day since November 2009. The drugstore chain expects 2024 adjusted earnings of at least $7 per share, down from a previous guidance of at least $8.30 per share…”
https://www.cnbc.com/2024/05/01/cvs-health-cvs-earnings-q1-2024.html