Why we're kicking CVS out of our Bullpen watchlist. Plus, Intel's CEO makes a stand
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
The move would reverse the company's $78 billion acquisition of Aetna, and dismantle the vertically integrated healthcare conglomerate it created in 2018.
CVS Health said Wednesday it is splitting into two companies, marking one of the largest shakeups in the healthcare industry. It’s a major reversal of the mergers that brought together the nation’s largest drugstore retailer along with health insurance giant Aetna and pharmacy benefit manager Caremark.
Analysts say that after a roughly two-year turnaround the company's retail pharmacy business and other units may be strong enough to stand on their own.
Here are some of the companies making headlines in midday trading.
The $2.1 billion lender has told its investors that conditions in the property market are worsening, and warned of a “significant tightening of credit”.