Traders work on the floor of the New York Stock Exchange, July 12, 2023. Brendan Mcdermid | Reuters Discover the latest trending companies during midday trading. Oracle witnessed a 13.5% decline following disappointing earnings and revenue projections for the second quarter. Analysts expected Oracle’s revenue to reach $12.47 billion, but it fell short at $12.45 …
Kroger announced on Friday that it has reached a settlement of $1.2 billion with U.S. states, local governments, and Native American tribes to resolve most of the claims accusing the company of contributing to the opioid epidemic through inadequate oversight of its pill sales. The agreement, which was disclosed ahead of Kroger’s fiscal second-quarter earnings …
CVS Health has partnered with Sandoz, a drugmaker, to develop a biosimilar version of the popular arthritis medication Humira. This biosimilar drug will be sold at a price that is 80% lower than the branded version. CVS Health is focused on obtaining and, in some cases, co-producing biosimilar drugs, which are the equivalent of generic …
Pharmacy retailers like Walmart, Kroger, and Rite Aid have seen an increase in sales due to the demand for prescription weight loss drugs. However, analysts caution that these drugs are not highly profitable for retail pharmacies and can even result in margin challenges. Drugs like Wegovy and Ozempic by Novo Nordisk, which are classified as …
Bed Bath & Beyond, once a brick-and-mortar retail powerhouse, may not see a revival, but its subsidiary brands Buy Buy Baby and Harmon are getting ready to make a comeback. The new owners of Buy Buy Baby, the owners of baby goods retailer Dream on Me, plan to reopen 11 stores in the Northeast this …
The Walmart logo is seen near its store in Williston, Vermont, on June 19, 2023. Image source: Jakub Porzycki | Nurphoto | Getty Images Discover the top performers in premarket trading. Walmart— Walmart’s stock rose by up to 1% following the company’s raised full-year forecast and impressive earnings and revenue beats. The adjusted earnings per …
A CVS pharmacy in Bloomsburg, Pennsylvania. Paul Weaver | LightRocket | Getty Images Explore the latest developments of prominent companies during midday trading on Thursday. Cisco Systems — Shares of the renowned computer networking giant surged by 4% following the release of their postmarket earnings report that surpassed Wall Street’s expectations. The company’s adjusted earnings …
A woman walks past a CVS Pharmacy in Washington, DC, on November 2, 2022. Brendan Smialowski | AFP | Getty Images Shares of CVS Health plunged 9% on Thursday after Blue Shield of California announced its decision to discontinue its pharmacy benefit management (PBM) services provided by CVS and instead partner with Mark Cuban’s Cost …
Source: Blue Shield of California In a strategic move aimed at reducing drug costs for its 4.8 million members, Blue Shield of California is partnering with Mark Cuban’s Cost Plus Drug Company and Amazon Pharmacy. This collaboration signifies a departure from traditional drug store chains, including CVS, which has been a health giant in the …
A collection of injector pens for Saxenda, a weight loss drug, is featured in a photo illustration in Chicago, Illinois, US, on March 31, 2023. A recent clinical trial has shown that Novo Nordisk’s obesity drug Wegovy can reduce the risk of serious heart problems by 20%, which is a significant finding that could increase …