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NEW YORK (TheStreet) -- Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
CVS data by YCharts
CVS (CVS) and Target (TGT): Cramer spoke with CVS Health President and CEO Larry Merlo and Target CEO Brian Cornell to dig deeper into CVS' acquisition of Target's pharmacy and clinic business. Target is a holding in Cramer's charitable trust, Action Alerts PLUS.
Cornell said the partnership will strengthen Target's position in the wellness space with an expert that brings scale, experience and capabilities. Cornell said the CVS portion of his stores will operate as a store-within-a-store and have the look and feel of a CVS pharmacy. More than 1,660 Target pharmacies in 47 states will be rebranded as CVS pharmacies.
This deal expands CVS' presence in new markets, Merlo told Cramer, and said that while there may be some one-time costs in the short term, the transaction will be at least 12 cents accretive in 2018 and beyond. Cornell added the deal is all about growth and expects the deal to drive traffic to Target stores and return cash to shareholders. In addition, the deal allows Target to increase focus on its signature product categories.