MarketFoolery: 09.03.2014
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 3 September 2014
⏱️ 19 minutes
🧾️ Download transcript
Summary
CVS Caremark kicks the tobacco habit one month early and rebrands as CVS Health. Plus we analyze Apple’s iCloud problems in the run-up to next week’s unveiling of the iWatch and iPhone 6.
Transcript
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| 0:00.0 | It's Wednesday, September 3rd. |
| 0:03.6 | Welcome to Market Fullry. |
| 0:04.8 | I'm Chris Hill joining me in studio today |
| 0:06.6 | from Motley 401, Jason Nosar. |
| 0:08.1 | Thanks for being here, man. |
| 0:08.9 | Yes, sir, thanks for having me. |
| 0:10.4 | I always mean it when I say thanks, |
| 0:11.7 | but I especially mean it today because I basically |
| 0:13.6 | gave you about 15 minutes heads up well like I said I mean it was on my calendar |
| 0:18.0 | already so I was actually thinking I was you know slated to be in here and then I thought well you know it's getting close to time and |
| 0:25.1 | I haven't seen any emails so he probably you know lucky for me I wake up and the first thing I |
| 0:29.7 | check is you know Twitter and Wall Street Journal and catch up on the news so all sorts |
| 0:35.5 | of stuff going on there's a lot going on let's let's start with CVS because |
| 0:41.4 | back in February CVS Caremark Corporation, the formal name of the company, and again, |
| 0:47.8 | this is the leading drugstore chain in America. |
| 0:51.6 | Back in February, CVS announces effective October 1st, we are done selling cigarettes, |
| 0:58.4 | we are done selling tobacco products. Our business is consumer health. |
| 1:04.3 | And on that day, shares were down, shares of Walgreens were up, because, by the way, that's about |
| 1:09.9 | $2 billion in revenue that they're kissing goodbye and there were investors at the time |
| 1:15.2 | and prognosticators at the time saying this might not work out well for them. |
| 1:21.2 | They come out today and announce, first of all, forget October 1st, we're doing |
| 1:26.2 | it a month early. So now, 7,800 locations across America no longer have these products and they also announced they are |
... |
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