CVS Caremark (CVS) Falls 20% On Cautious Comments on PBM From Call
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Shares of CVS Caremark (NYSE: CVS) are falling following negative comments from the conference call. Shares are down nearly 20%
CVS said $3.7 billion in contract losses in the quarter. Lost more in PBM business than expected. PBM margin will fall 10% in 2010.
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