CVS Deal With Aetna, Amazon Drugs: Friday's Top Stories
Jane King has Friday's top stories:
CVS In Talks To Buy Aetna:
CVS (CVS) - Get Report wants to be so much more than a drugstore. The company is reportedly in talks to buy insurance company Aetna (AET) . The Wall Street Journal says it would be a $66 billion deal. With Aetna, CVS could secure new members for its pharmacy-benefits management business, as well as customers for its drugstores.
Amazon Looking into Healthcare:
Amazon (AMZN) - Get Report may also be looking at healthcare. Drug stocks fell on a report in the St. Louis Dispatch that it had gotten approval to be a wholesale distributor of pharmaceuticals in 12 states. The news broke on the same day the company reported $256 million in profit and generated $43.7 billion in sales, up 34% from a year ago.
Google To Reach Valuation of $700B:
Alphabet (GOOGL) - Get Report parent of Google, is set to become the second company to reach a valuation of $700 billion. Only Apple (AAPL) - Get Report has reached that lofty valuation so far.
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