CVS Health Bounces Back with Strong Profit Forecast

CVS Health boosts its full-year profit expectations following robust quarterly results, indicating a rebound from last year's struggles. The company attributes its success to cost-cutting measures, management reshuffles, and strategic exits from certain markets. Shares surged 8.4% on the announcement.

CVS Health announced an increase in its full-year profit forecast after reporting strong quarterly results, signaling a recovery following last year's financial challenges.

Shares of the healthcare conglomerate soared by 8.4% in premarket trading, reflecting investor confidence in the company's renewed strategy under CEO David Joyner.

The firm is realigning operations, including exiting the individual exchange business and modifying drug reimbursement plans, to enhance financial performance and cut costs.

(With inputs from agencies.)