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CVS jumps on earnings beat as its merger with insurance company Aetna begins to pay off

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The company's new HealthHUB locations will represent the direction CVS plans to take following the $70 billion Aetna merger.

CVS traded as much as 5.6% higher on Wednesday after beating second-quarter earnings expectations and raising its yearly profit forecast for the second time in 2019. The earnings beat arrives as the company plans to open about 50 HealthHUB stores by the end of the year. The new venture represents the direction CVS hopes to go in after acquiring health insurer Aetna for $70 billion in November. The earnings beat comes after rival Walgreens announced Tuesday it plans to close 200 US stores.

CVS traded as much as 5.6% higher on Wednesday after beating second-quarter earnings expectations and raising its yearly profit forecast for the second time in 2019. The earnings beat arrives as the company plans to open about 50 HealthHUB stores by the end of the year. The new venture represents the direction CVS hopes to go in after acquiring health insurer Aetna for $70 billion in November. The earnings beat comes after rival Walgreens announced Tuesday it plans to close 200 US stores.

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