CVS rises on strong earnings

Investor's Business Daily

The nation's top drugstore earned 85 cents in Q3, up 21% from last year and 1 cent better than expected. Sales rose 13% to $30.23 bil, topping. CVS Caremark's (CVS) revenue rose in part because it retained customers gained when archrival Walgreen (WAG) was in dispute with giant pharmacy benefits manager Express Scripts (ESRX). That spat ended in mid-Sept. CVS rose less than 1%. Express Scripts on Mon. reported EPS that beat views. But shares plunged 12.3% Tue. after it warned of '13 weakness.

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