Raymond James: Lowered CVS Health (NYSE:CVS) price target to $110 from $115 Outperform

/ / Health Care / ,

Raymond James analyst John Ransom lowered its price target on CVS Health (NYSE:CVS) to $110 from $115 and maintained the stock’s “outperform” rating. The analyst told investors in a research note that CVS Health’s fourth-quarter results were in line with their pre-announcement, that guidance for 2023 remained unchanged, and that the company announced the acquisition of Oak Street Health, a health firm on Oak Street.

Raymond James: Lowered CVS Health (NYSE:CVS) price target to $110 from $115 Outperform Read Post »

CVS Health (NYSE:CVS) Total revenues increased to $83.8 billion, up 9.5% YoY in Q4 2022

/ / Health Care /

February 8, 2023 – CVS Health Corporation (NYSE: CVS) today announced operating results for the three months and year ended December 31, 2022. Q4 adjusted earnings Wednesday of $1.99 per diluted share,Analysts polled by Capital IQ expected $1.93. Revenue for the quarter ended Dec. 31 was $83.8 billion, Analysts surveyed by Capital IQ expected $76.4 billion. The company said it expects full-year 2023 adjusted earnings of $8.70 to $8.90 per diluted share. Analysts polled by Capital IQ expect $8.86. FOURTH QUARTER HIGHLIGHTS： Total revenues increased to $83.8 billion, up 9.5% compared to prior year. GAAP diluted EPS of $1.75 and Adjusted EPS of $1.99. Announced a 10% increase to the quarterly shareholder dividend, which became effective with the February 1, 2023 dividend distribution. Returned $2.9 billion to shareholders through dividends, while repurchasing 34.1 million shares of common stock and authorizing a new $10.0 billion share repurchase program. Increased unique digital customers by seven million

CVS Health (NYSE:CVS) Total revenues increased to $83.8 billion, up 9.5% YoY in Q4 2022 Read Post »

UBS: Maintain Alphabet (NASDAQ:GOOGL) Buy rating with a $120 price target

/ / Technology / ,

UBS analyst Lloyd Walmsley told investors in a research note that Alphabet’s (NASDAQ:GOOGL) “Google Paris Live” event was disappointing because Google failed to respond directly to Microsoft’s integration of ChatGPT into Bing Search, which fully shows Google’s current dilemma. UBS said Google could launch a robust product in generative AI and augment existing products with its leading technology, but may need more training before expanding its model broadly.

UBS: Maintain Alphabet (NASDAQ:GOOGL) Buy rating with a $120 price target Read Post »

Ford Motor (NYSE:F) continues to sell Rivian (NASDAQ:RIVN) shares, its holdings fall to nearly 1%

/ / Consumer Discretionary / ,

Ford Motor Co (NYSE:F) further reduced its stake in electric car maker Rivian according to SEC public filings. Ford currently owns 1.15% of Rivian (NASDAQ:RIVN), or about 10.5 million shares, according to the filing. At the end of last year, Ford owned 86.9 million shares of Rivian Corp., equivalent to 9.49 percent of the shares.

Ford Motor (NYSE:F) continues to sell Rivian (NASDAQ:RIVN) shares, its holdings fall to nearly 1% Read Post »

The MSCI World Index added 34 constituents and eliminated 24

/ / Financials /

MSCI said it would add 34 new securities and exclude 24 securities after the February index review. The top three new components of the MSCI World Index by total market capitalization will be Atlassian, Axon Enterprise and Reliance Steel & Aluminium. The three largest new components of the MSCI Emerging Markets Index by total market capitalization will be Bank of Baroda, AiXu and South Korea’s Kakaopay. The three new constituents include HNA Holdings, Hainan Airport and Zhonggong Education. The changes will take effect at the close of trading on February 28. Since the MSCI China Index is nested into the MSCI Emerging Markets Index, the entry of stocks into the MSCI China Index means entering the MSCI Global Standard Index series and will receive a large number of passive capital tracking.

The MSCI World Index added 34 constituents and eliminated 24 Read Post »

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