- CVS Caremark (CVS) says it will stop selling tobacco products by October 1, 2014.
- The company estimates it will lose $2B in annual revenue and $0.17 in profit per year. The impact on 2014 EPS will be $0.06-$0.08.
- The end game is that CVS could be in a much position than Walgreen (WAG) or Rite Aid (RAD) to strike deals with medical groups and insurance companies.
- CVS -1.7% premarket
at Nasdaq.com (Nov 18, 2014)