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Walgreens stock falls to lead the Dow’s losers, after rival CVS cut its full-year profit outlook

Clyde Edgerton by Clyde Edgerton
May 3, 2023
in Markets
Walgreens stock falls to lead the Dow’s losers, after rival CVS cut its full-year profit outlook
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Shares of Walgreens Boots Alliance Inc. WBA slumped 3.4% toward a six-week low, on the heels of CVS Health Corp.’s CVS earnings report in which the fellow health care services and drugstore chain cut its full-year profit outlook. Walgreens’ stock, which paced the Dow Jones Industrial Average’s DJIA declines, has dropped 8.2% amid a three-day losing streak. When Walgreens reported fiscal second-quarter results in late March, the company’s results beat expectations, boosted by an “acceleration” in sales in February, and affirmed its full-year earnings outlook. On Wednesday, CVS’s stock fell 3.4% after the company topped…



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