CVS Health shares are trading lower following reports suggesting Blue Shield of California has decided to discontinue its utilization of CVS Health's Caremark.
Portfolio Pulse from Benzinga Newsdesk
CVS Health's shares are trading lower after reports indicated that Blue Shield of California has decided to stop using CVS Health's Caremark.
August 17, 2023 | 12:37 pm
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NEGATIVE IMPACT
CVS Health's stock price is expected to be negatively impacted in the short term due to Blue Shield of California discontinuing its use of CVS Health's Caremark.
Blue Shield of California discontinuing its use of CVS Health's Caremark is a loss of business for CVS Health, which could negatively impact its revenues and thus its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100