CVS Health Corp (CVS) News & EventsCVSCVS Health Corp

Nasdaq Composite Falls 1.3% as Tech Stocks Struggle

S&P 500 slipped for the second consecutive day while losses on the tech-dominant Nasdaq Composite accelerated, with the index finishing lower by 1.3% on Thursday.  Technology was by far the worst-performing sector in the benchmark S&P as AI buildout theme was thumped by a Financial Times report, stating that OpenAI's annualized revenues were closer to $50B at the end of September -  well below the $70B figure previously circulated.  Micron, Sandisk, Intel, Broadcom, Seagate, AMDand Oraclewere among the 20 worst stocks in the S&P 500, with losses of at least 4%.  Meanwhile, software and IT services stocks such as Accentureand Gartner- names viewed to be most exposed to AI disruption - rallied by at least 5%.In the opening hour of the evening session, S&P e-minis and Nasdaq 100 contracts are up a decimal. In commodities, WTI Crude Oil was off the highs but still above $91 per barrel.  Energy prices rallied sharply this morning on reports that U.S. may conduct heavy strikes on Iran before the US midterm elections.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Park Aerospace Corp.up 2.7%Oil-Dri Corporation of Americaup 1.0%ALSO HIGHER -XORTX Therapeuticsup 23.9% as company outlines anticipated clinical trial application for XRx-026Humanaup 12.7%, Clover Healthup 10.9%  after CMS published 2027 MA - Medicare Part C - and Part D Star RatingsGinkgo Bioworks Holdings, Inc.up 1.0% after announcing it will provide autonomous lab access to NSF X-Labs researchersLOWER -AT&Tdown 6.6%, T-Mobiledown 6.6%, Verizondown 6.2% following announcement by SpaceXthat it has acquired a nationwide low-band spectrum license portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band.Alignment Healthcaredown 23.1%, CVS Healthdown 3.1%, Cignadown 1.8%, Elevance Healthdown 1.6% after CMS published 2027 MA - Medicare Part C - and Part D Star RatingsBraemar Hotels & Resortsdown 3.3% after FY27 guidanceAmerican Expressdown 1.8% after announcing consent to Federal Reserve and OCC compliance orders

McKesson Extends Partnership with CVS to 2032

McKesson Corporation (MCK) signed an agreement in principle to extend its partnership with CVS Health (CVS) to distribute pharmaceuticals to mail order and specialty pharmacies, retail pharmacies, and distribution centers through June 2032.