Wall Street Grand, LLC., a leading investor newsletter is pleased to announce to the investment community and Wall Street Grand members market moving news about CVS Caremark Corp.. (NYSE:CVS) shows elevated growth in the fourth quarter. CVS Corp. (NYSE:CVS) trades on the “New York Stock Exchange” under the stock symbol “CVS”. To learn more about “CVS”, make sure to visit our exclusive website http://www.wallstreetgrand.com/.
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CVS Caremark Corp. (NYSE:CVS) which is one of the nation's biggest drugstore operators, said its profit rose 11 percenton Monday in the fourth quarter as results improved for its pharmacy benefits management business. Caremark processed 151.4 million claims during the quarter, a drop of 6 percent from a year earlier. It filled 16.7 million claims by mail, up 4 percent. CVS shares rose 82 cents, or 2.6 percent, to $31.89 in premarket trading as well as a7 percent growth to $25.82 billion from $24.14 billion.
Revenue from CVS drugstores rose 4.5 percent, to $14.46 billion. Sales at stores open at least a year grew 4.9 percent. Results from those stores are considered an important reading of retailer health. At those stores, CVS said pharmacy revenue rose 7.3 percent. But sales of discretionary "front-end" items edged up only 0.3 percent. For the year, CVS said its profit grew 16 percent to $3.7 billion, or $2.55 per share, from $3.2 billion, or $2.18 per share. Revenue rose 13 percent to $98.73 billion from $87.47 billion.
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