Why CVS Stock Is Trading Lower Tuesday
Portfolio Pulse from Erica Kollmann
CVS Health Corporation (NYSE:CVS) shares are trading lower on Tuesday in sympathy with Walgreens Boots Alliance (NASDAQ:WBA) after the company lowered its fiscal year 2023 guidance. Walgreens has lowered its 2023 adjusted EPS guidance to $4.00 - $4.05 from the previous $4.45 - $4.65.
June 27, 2023 | 2:57 pm
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NEGATIVE IMPACT
CVS shares are trading lower due to Walgreens' lowered fiscal year 2023 guidance, which may indicate a challenging market environment.
CVS shares are trading lower as a direct result of Walgreens' lowered fiscal year 2023 guidance. This may indicate a challenging market environment for pharmacy retailers, which could negatively impact CVS's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Walgreens Boots Alliance (NASDAQ:WBA) lowered its fiscal year 2023 adjusted EPS guidance to $4.00 - $4.05 from the previous $4.45 - $4.65, causing its stock price to drop.
Walgreens has lowered its fiscal year 2023 adjusted EPS guidance, which is a direct cause for the drop in its stock price. The lowered guidance may indicate a more challenging market environment for the company, negatively impacting its stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100