UnitedHealth earnings last Friday may also be a factor buoying CVS stock.
CVS stock was rising on Monday after rival drugstore operator Rite Aid filed for bankruptcy—but that’s likely not the only factor buoying the shares.
Shares in CVS Health advanced 2.2% in premarket trading on Monday. The move higher for CVS stock came amid news that Rite Aid filed for Chapter 11 bankruptcy protection late Sunday as it faces lawsuits related to the opioid epidemic, with the group poised to close more stores as it faces a restructuring.
The prospect of reduced competition from Rite Aid may be only one factor lifting CVS shares. The healthcare company may also be benefiting from blowout earnings from UnitedHealth Group on Friday, with the insurer’s quarterly results crushing Wall Street’s expectations and sending shares across companies in managed care skyward.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
1 Stock to Buy, 1 Stock to Sell This Week: Lululemon, PfizerStocks Analysis by Investing.com (Jesse Cohen) covering: Pfizer Inc, Lululemon Athletica Inc. Read Investing.com (Jesse Cohen)'s latest article on Investing.com
Read more »
Week 7 Trades: Stock Up, Stock DownWhile Travis Etienne has been a hot fantasy commodity, a trio of prized receivers are causing stress.
Read more »
CVS CFO Shawn Guertin to take leave of absence for family health reasonsCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Read more »
“Strong Girl Namsoon” Ratings Hit New All-Time High As “My Dearest” Part 2 Rises“Strong Girl Namsoon” Ratings Hit New All-Time High As “My Dearest” Part 2 Rises
Read more »
Netanyahu vows to 'demolish' Hamas as emergency war council convenes, death toll risesIsrael’s PM Netanyahu vows to ‘demolish’ Hamas as ground invasion looms, death toll rises
Read more »
Apple, Nvidia and Pfizer fall premarket; Lululemon risesApple, Nvidia and Pfizer fall premarket; Lululemon rises
Read more »