Hot Stock Blurp – CVS

CVS Caremark Corp. (NYSE: CVS) reported earnings of $0.65 per share for the quarter ended September 30, besting  consensus estimate by a penny; net revenues came to $24.6 billion, 17% higher than the year-ago period’s $20.9 billion. According to the drugstore and pharmacy benefits company, “net revenues were positively impacted by one more reporting day during the third quarter of 2009 compared to the third quarter of 2008.” However, shares were down more than 20% on Thursday morning on news that its Caremark pharmacy benefits management unit had lost major contracts totaling $2 billion in the period.

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