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CVS Health Corporation

Company NameCVS Health Corporation
Stock SymbolCVS

On May 1, 2024, CVS released its first quarter 2024 financial results, stating that adjusted earnings for the year would be approximately $7 a share, down from previous expectations of at least $8.30. Additionally, the Company lowered its forecast for cash flow from operations by $1.5 billion. The Company cited increased medical costs in its Medicare insurance business as the cause of the lowered guidance.

On this news, CVS’s stock price fell $11.40, or 16.8%, to close at $53.31 per share on May 1, 2024, thereby injuring investors.

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