This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

[video] CVS Caremark Tops Estimates on Strong Drug Sales

Stocks in this article: CVS

NEW YORK ( TheStreet) -- TheStreet's Brittany Umar reports shares of CVS Caremark (CVS)  climbing after the drugstore and pharmacy chain reported fourth-quarter earnings that beat analysts forecasts.  The company said pharmacy revenue at its established drugstores grew 6.8% during the quarter.  

VIDEO TRANSCRIPT:

Shares of CVS Caremark (CVS) are climbing after the drugstore and pharmacy chain reported fourth-quarter earnings rose more than 12% over the same period a year ago.

The company said results were boosted by pharmacy revenue at its established drugstores, which grew nearly 7% during the quarter.  CVS managed to fill almost 4% more prescriptions and sell more generic drugs despite two main challenges.  The company processed fewer network claims and saw a decline in store traffic, which prompted a nearly 2% slide in sales of general merchandise.

Overall, revenue in the period rose 4.6% to about $32.8 billion, beating analyst forecasts of about $32.6 billion, according to Thomson Reuters.

Last week, CVS became the first U.S. drugstore chain to announce it would stop selling cigarettes and other tobacco products.  It plans to take the products off all of its shelves by October.

Shares of CVS were most recently climbing about 2% to $68.34.

In New York, I'm Brittany Umar for TheStreet.

-- Written by Brittany Umar in New York.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs