Stock Market Update

[BRIEFING.COM] The major averages continue to trade modestly higher at midday. 

CVS Health (CVS 78.63, +2.10, +2.74%) boosted its FY25 outlook again, lifting EPS to $6.60--$6.70 from $6.55--$6.65, and revenue to at least $400 billion from $397.3 billion, marking its fourth EPS upward revision and sending shares sharply higher. FY26 EPS guidance of $7.00-$7.20 aligns with consensus, while FY26 revenue of at least $400 billion trails expectations, suggesting measured top-line growth against tighter utilization trends. Still, long-term goals impressed: CVS now targets mid-teens adjusted EPS CAGR through 2028, supported by improving claims costs, higher-margin care delivery, PBM repricing tailwinds, cost discipline, and scaling of its value-based primary care platform.

Meanwhile, the broader health care sector (-0.3%) now holds the widest loss of S&P 500 sectors, giving back a nice opening gain and furthering the sector's slide in December (-4.3% MTD) after outperforming in November.