CVS Shares Fall 10% After Replacing CEO—Lowering Earnings Projections
CVSCVS Health(CVS) Forbes·2024-10-18 21:24

ToplineShares of CVS dropped by 10% on Friday morning, pacing what would be the company’s worst loss in three years, after the company replaced its chief executive while cutting its earnings projections well below analyst expectations.The retail pharmacy chain has suffered from higher medical costs and a drop in consumer spending.NurPhoto via Getty Images Key FactsCVS Health shares fell below $58 during premarket trading on Friday, on track for the pharmacy chain’s worst loss since a 12% dip on March 15, 20 ...