Bullish Positioning Continues in CVS Health (CVS), Targeting Upside in Shares -Susquehanna

Lowe's Cos. (LOW) Announces David Denton as New EVP & CFO

August 22, 2018 6:17 AM EDT

Lowe's Companies, Inc. (NYSE: LOW) today announced the appointment of David M. Denton as executive vice president, chief financial officer. Denton currently serves as executive vice president and CFO of CVS Health (NYSE: CVS) and will join Lowe's shortly after the closing of the CVS acquisition of Aetna, which is expected in the second half of... More

Lowe's new chief shuts Orchard stores, promises streamlining

August 22, 2018 6:08 AM EDT

By Aishwarya Venugopal

(Reuters) - Lowe's Cos Inc (NYSE: LOW) on Wednesday promised to cut back slow-moving products and unsuccessful business projects as new Chief Executive Marvin Ellison seeks to turn around a company that has trailed bigger rival Home Depot (NYSE: HD) for years.

Shares of the company reversed course to rise as much as 10 percent and hit a record high as investors cheered better-than-expected quarterly sales and profit as well as Ellison's move to shut struggling Orchard Supply Hardware stores.

Ellison also... More

U.S. health secretary says agency can eliminate drug rebates

August 20, 2018 7:06 AM EDT

By Yasmeen Abutaleb

WASHINGTON (Reuters) - U.S. Health and Human Services Secretary Alex Azar said it was within his agency's power to eliminate rebates on prescription drug purchases, a key element of the Trump administration's plan to lower prescription medicine costs.

Such rebates are negotiated in the United States by pharmacy benefits managers (PBMs) to lower the cost of medicines for their clients, including large employers and health plans that cover tens of millions of Americans.

Drugmakers say they are under pressure to provide rebates to the few PBMs that dominate the market, which include... More