CVS' stock slips after earnings beat by a wide margin but full-year outlook was cut due to higher medical costs

Shares of CVS Health Corp. CVS, +1.82% fell 0.3% in premarket trading Wednesday, after the drugstore chain and health care services company’s fourth-quarter results beat expectations by wide margins, but lowered its full-year outlook because of “elevated medical cost trends.” Net income fell to $2.05 billion, or$1.58 a share, from $2.33 billion, or$1.77 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.12 beat the FactSet consensus of$1.98. Revenue grew 11. ...