Because they lowered guidance
CNBC analyst just said bUY!
here is an answer...
You started bashing CVS at $30. Today it is $60.
It's up $3 since last months low
How is that crumbling?
You are DUMB just plain DUMB!
You said it was Kind of fun to watch last month when it hit $57
You are DUMB just plain DUMB
The street brought CVS from $23 to $60
You have been on the wrong side of the trade
You cant win
It needs to go to $36 for you to break even on your short
You are so underwater you are drowning in your own urine
By NANCY GONDO, INVESTOR'S BUSINESS DAILY
Walgreen's shift to a private health insurance exchange for its employees isn't necessarily a harbinger of doom for pharmacy benefits managers (PBMs) like Catamaran (CTRX) and Express Scripts (ESRX).
In fact, PBMs could pick up business as private exchanges grow, BMO Capital Markets analyst Jennifer Lynch suggested in a research note Thursday.
Walgreen's announcement Wednesday that it plans to send its employees to a private health insurance exchange rather than provide coverage options served as the catalyst for Wednesday's 8% plunge in Catamaran shares.
Lynch estimates Catamaran could lose up to 2 million annual prescriptions since it provides drug coverage for Walgreen employees.
But that's a small part of its overall customer base for next year — estimated at more than 400 million prescriptions — and is likely a low-profitability business for the company, she said.
Reaction to the Walgreen news was "overblown," she added, reiterating an outperform rating and 63 price target on Catamaran, which was trading up 4% at 52.60 in early-afternoon trading in the stock market today.