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CVS/Caremark Corp....

 
By admin at Mon, 2008-11-03 12:35

Performance: CVS/Caremark stock outperformed the S&P 500 index and the S&P 500 Food & Staples Retail Group index over a five-year period. A $100 investment in CVS in 2002 jumped to $329 at year-end 2007; a similar investment rose to $183 on the S&P 500 and to $111 on the Food & Staples index.

Special notes: On Thursday, CVS/Caremark announced the completion of its $2.7 billion acquisition of Longs Drug Stores Corp., with 521 stores in California, Hawaii, Nevada and Arizona, and pharmacy benefits manager Rx America.

The company reported third-quarter net income of $736 million, or 50 cents a share, on sales of $20.9 billion. That compares with net income of $689.5 million, or 45 cents, on sales of $20.5 billion a year earlier. CVS officials project a profit this year of $2.44 to $2.48 a share, excluding the effect of the Longs acquisition.

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