CVS slashes profit guidance, will cut $2 billion in expenses as insurance costs climb
Publishing timestamp: 2024-08-07 10:32:56
Summary
CVS Health slashes profit outlook, announces cost-cutting plan to address higher medical costs. Company's insurance segment facing challenges, leading to leadership changes and lowered profit guidance. CVS also saw decline in sales in health services segment.
Sentiment: NEGATIVE
Tickers: CVS, ELV, UNH, HUM, AMZN,
Keywords: business, breaking news: business, humana inc, amazon.com inc, elevance health inc, pharmaceuticals, cvs health corp, united states, health care industry, earnings, breaking news: earnings, business news, biotech and pharmaceuticals, biotechnology, unitedhealth group inc,
Source: https://www.cnbc.com/2024/08/07/cvs-health-cvs-earnings-q2-2024.html