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president obama said cvs caremark sets an example. while rj reynolds tobacco said we respect their decision. >> clearly from a dollars and cents perspective, the long-term bet is on health care, not the cigarette business. >> reporter: but will other retailers follow the cvs lead? today walgreens said it's been evaluating this product category for some time to balance the choices our customers expect from us with their ongoing health needs. while most cigarettes are bought in convenience stores, not pharmacies, the pressure may be on the others to follow the leader. tom costello, nbc news, bethesda, maryland. >>> tonight a scathing report by united nations human rights group has slammed the vatican and the hierarchy of the catholic church. it accuses the church of allowing decades of sexual abuse of children by priests and continuing to protect the perpetrators through what it called a code of silence. nbc's mike taibbi has our report. >> reporter: pope francis greeting the faithful in st. peters square today had already been taking s
president obama said cvs caremark sets an example. while rj reynolds tobacco said we respect their decision. >> clearly from a dollars and cents perspective, the long-term bet is on health care, not the cigarette business. >> reporter: but will other retailers follow the cvs lead? today walgreens said it's been evaluating this product category for some time to balance the choices our customers expect from us with their ongoing health needs. while most cigarettes are bought in...
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obviously a hit for cvs caremark. re doing better f you look at the one-year though, cvs was doing great. today, not so much. adam: eckerds is gone. mccrory's is gone in coral gables, florida. >> exactly. adam: jeff flock, thank you very much. cheryl: the private sector adding 175,000 jobs in the month of january. that is according to adp. we got that this morning but that did fall short of the expected 180,000, that was the estimate. as overall job market struggles to recover, the technology sector is helping lead the way in job creation. could you think that adp has it right this morning? >> yeah, there is generally a pretty good correlation but they do different times. i think number will be a little higher from the bls. >> hope it is better than december, 74,000? >> it can't help but be better than december. cheryl: what do you think about that the january effect wasn't a market claim, it was unfortunately a jobs claim. trucking companies, construction companies. couldn't get workers out to the sites. what does tha
obviously a hit for cvs caremark. re doing better f you look at the one-year though, cvs was doing great. today, not so much. adam: eckerds is gone. mccrory's is gone in coral gables, florida. >> exactly. adam: jeff flock, thank you very much. cheryl: the private sector adding 175,000 jobs in the month of january. that is according to adp. we got that this morning but that did fall short of the expected 180,000, that was the estimate. as overall job market struggles to recover, the...
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cvs caremark says it decided it can't sell cigarettes at places where it also provides health care.sn't seem to match. let's go back to one of our top stories this week, microsoft. nadella's second day on the job as the microsoft ceo. bewith any new ceo he will tasked with examining corporate strategy and carving out the future for the software giant. olivia sterns has been digging into what the future is going to hold for microsoft. tell us where this company is headed. >> i think nadella's really big challenge is going to be trying to move microsoft away from the pc past and push faster into cloud and mobile. that is exactly what we heard them say just yesterday, it is a mobile and cloud world. yes, they are still making very healthy profits with pc's and windows and licensing out microsoft software but the growth now is consumer devices and enterprise or most recently nadella, as you know, he has been running the cloud and that is where he sees the biggest opportunity and brands that operate on the cloud, including menu know and recognize, being skype and xbox 1 -- but ha doesn't
cvs caremark says it decided it can't sell cigarettes at places where it also provides health care.sn't seem to match. let's go back to one of our top stories this week, microsoft. nadella's second day on the job as the microsoft ceo. bewith any new ceo he will tasked with examining corporate strategy and carving out the future for the software giant. olivia sterns has been digging into what the future is going to hold for microsoft. tell us where this company is headed. >> i think...
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here comes larry, the president of ceo of the bit of cvs caremark and he's saying, look, going forward we want to position as a more healthy company and feeling good about themselves and tabacco most definitely has no place in that. >> when we asked ourselves where we expect to be in the future as a healthcare company it is clear that removing tabacco products from our stores is the right thing to do. >> the price tag is 2 billion dal -- dollars. and that is okay. it is a lot of money, but fairly small compared to sales. robin is the ceo of legacy, which is really a foundation that advocates for not smoking and he's thinking that they have gone into this after long thinking and it is successful for them. take a look. >> in the long term, selling product that kills just half of the people that use it certainly can't be good for business. so i think it will prove to be very successful and other retailers will be following. >> it remains to be seen what walgreen's is going to do, all though they are looking at the place of those products on their shelves and they have reevaluating too. >>
here comes larry, the president of ceo of the bit of cvs caremark and he's saying, look, going forward we want to position as a more healthy company and feeling good about themselves and tabacco most definitely has no place in that. >> when we asked ourselves where we expect to be in the future as a healthcare company it is clear that removing tabacco products from our stores is the right thing to do. >> the price tag is 2 billion dal -- dollars. and that is okay. it is a lot of...
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cvs caremark, that chain is announcing it is going to remove cigarettes and tobacco from all 7,600 of its pharmacy locations by october 1st of this year. the president of cvs pharmacy explaining the decision to nbc's tom costello. >> this positions us really towards where health care is going because we know the sale of tobacco is extremely inconsistent with being a health care provider. we certainly expect other people who are in the pharmacy business to look at the mirror and ask themselves, where do they want to be in the next few years and what kind of role do they want to play in health care. but ultimately that will be their decision. >> tom costello joins us in about 15 minutes with more. i have to tell you, i know we're supposed to be journalists and not have views. i applaud this. the idea that they were selling cigarettes next to pharmaceuticals and drugs at a health care store never made sense to begin with. >> i think it's an interesting decision cvs is making. to me it sounds like cvs and walgreens has been doing this as well, going all in on health care, on obamacare, ma
cvs caremark, that chain is announcing it is going to remove cigarettes and tobacco from all 7,600 of its pharmacy locations by october 1st of this year. the president of cvs pharmacy explaining the decision to nbc's tom costello. >> this positions us really towards where health care is going because we know the sale of tobacco is extremely inconsistent with being a health care provider. we certainly expect other people who are in the pharmacy business to look at the mirror and ask...
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Feb 12, 2014
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cvs caremark sticking by its 2014 sales cast even though it announced it will stop selling cigarettes. cvs also beat fourth quarter earnings estimates helped by increased prescription sales. shares rose nearly 3% to 68.77. sprint lost money in the fourth quarter but not as much as analysts had expected. the third largest u.s. wireless carrier helped narrow its loss by growing subscribers. that surprised investors because in past quarters the company lost customers due to a massive overhaul of its network which weighed on the quality of its phone calls. shares rose nearly 3% to finish at 7.90. >>> rubbermaid is recalling its graco brand car seats that are defective and can trap children. the buckles on the problem products can jam. graco is not recalling all the seats the government believes it should. regulators want the recall to include another 1.8 million seats designed for infants. we'll see where this ends up. shares were off a fraction to $30.57. >>> charter communications is upping its efforts to buy out time warner cable. charter will nominate 13 directors to time warner's boa
cvs caremark sticking by its 2014 sales cast even though it announced it will stop selling cigarettes. cvs also beat fourth quarter earnings estimates helped by increased prescription sales. shares rose nearly 3% to 68.77. sprint lost money in the fourth quarter but not as much as analysts had expected. the third largest u.s. wireless carrier helped narrow its loss by growing subscribers. that surprised investors because in past quarters the company lost customers due to a massive overhaul of...
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. >> cvs caremark has positioned themselves as the leader. and that should put pressure on the other pharmacy chains, particularly walgreens and rite aid. >> reporter: walgreens issued a statement saying it continues to evaluate cigarette sales. cvs's decision was years in the making. former ceo thomas ryan talked about dropping tobacco in 2008. but his retail competitors like dollar stores have become bigger sellers of cigarettes, the move now may make more financial sense. >> when you think today about the fact that people used to smoke in airplanes, or that they used to smoke in restaurants, maybe this is the kind of decision that will change our industry in the future and people will look back and think about it in a very different way. >> reporter: social media about other products like e cigarettes, cvs says it doesn't sell them and may revisit the issue depending on what the fda determines about them. when it comes to sugary soft drink and alcohol, it says unlike cigarettes those can be consumed in moderation. bertha coombs, "nightly bu
. >> cvs caremark has positioned themselves as the leader. and that should put pressure on the other pharmacy chains, particularly walgreens and rite aid. >> reporter: walgreens issued a statement saying it continues to evaluate cigarette sales. cvs's decision was years in the making. former ceo thomas ryan talked about dropping tobacco in 2008. but his retail competitors like dollar stores have become bigger sellers of cigarettes, the move now may make more financial sense....
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today on "cbs this morning" the nation's second largest drugstore change, cvs caremark, announced it will stop selling cigarettes and all other tobacco products. it's a big move that will cost the company a fortune. so we asked dr. jon lapook to tell us more. >> reporter: c.v.s. will pull the tobacco products off the shelves of all 7,600 stores by october 1. the pharmacy chain says it will lose an estimated $2 billion in sales. c.v.s.' chief executive larry merlo made the announcement today on cbs "this morning" saying he didn't think selling cigarettes aligned with their mission as a health care company. >> it's a real contradiction to talk about all the things we're doing to help people on their path to better health. >> reporter: efforts to reduce smoking have stretched back nearly 50 years. in 1970, the government banned television ads. >> out here in marlboro country. >> reporter: since then, the percentage of adults who smoke has dropped from 37% to 18%. restrictions on smoking in public places has had a similar effect. in new york, the first city to enact a public smoking ban,
today on "cbs this morning" the nation's second largest drugstore change, cvs caremark, announced it will stop selling cigarettes and all other tobacco products. it's a big move that will cost the company a fortune. so we asked dr. jon lapook to tell us more. >> reporter: c.v.s. will pull the tobacco products off the shelves of all 7,600 stores by october 1. the pharmacy chain says it will lose an estimated $2 billion in sales. c.v.s.' chief executive larry merlo made the...
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in a statement, he says, as one of the largest retailers and pharmacies in america, cvs caremark sets a powerful example, and today's decision will help advance my administration's effort to reduce tobacco-related deaths, cancer, and heart disease, as well as bring down health care costs. nbc's tom costello reports on the major development concerning one of the nation's biggest pharmacy chains. >> reporter: the news this morning could be the start of something very big. one of the largest pharmacy chains in the country saying "no" to tobacco. by october 1st, all tobacco product also be off the shelves at cvs. cvs president helena folks says it simply makes no sense for cvs employees to sell cigarettes and chewing tobacco. >> they are working with our patients and our customers who have chronic conditions like high blood pressure and high cholesterol and diabetes, and we know that smoking is extreme ly against helping people with health care needs. >> reporter: it will cost cvs $2 billion in revenue, but it comes as it transitions to a health care pharmacy, focusing on pharmacy service
in a statement, he says, as one of the largest retailers and pharmacies in america, cvs caremark sets a powerful example, and today's decision will help advance my administration's effort to reduce tobacco-related deaths, cancer, and heart disease, as well as bring down health care costs. nbc's tom costello reports on the major development concerning one of the nation's biggest pharmacy chains. >> reporter: the news this morning could be the start of something very big. one of the largest...
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as we told you at the big inning of the broadcast, cvs caremark says it will stop selling tobacco productsstores nationally. it is the first pharmacy chain to make such a move. cvs says it will cut annual revenue by about $2 billion, or $.17 per share. herbalife is pays -- is facing more possible scrutiny. the federal trade commission chairman edith ramirez says. a call has been made to investigate herbalife. the second winter storm in three days is sweeping the northeastern united states, grounding more than 2000 flights, closing schools and downing power lines. new york governor andrew cuomo has declared a state of emergency and boston could get nine inches of snow and ice before the storm and later today. time for the commodities" stop su keenan joins us from the newsroom with the details. >> we go from wild weather to something wild in terms of volatility in the commodities. it does have something to do with the weather. of mildern word weather. we are receiving bigger gains in coffee. a rabbit to coffee futures are now on track for their biggest --ar gain -- a rabbit, abica coffee fut
as we told you at the big inning of the broadcast, cvs caremark says it will stop selling tobacco productsstores nationally. it is the first pharmacy chain to make such a move. cvs says it will cut annual revenue by about $2 billion, or $.17 per share. herbalife is pays -- is facing more possible scrutiny. the federal trade commission chairman edith ramirez says. a call has been made to investigate herbalife. the second winter storm in three days is sweeping the northeastern united states,...
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in a statement this morning, he said >> " cvs caremark says a powerful example, and today's a decisionfforts to reduce tobacco related deaths, cancer, heart disease. " >> a second raiderette has joined a lawsuit claiming that the team fails to pay is a cheerleading squad the minimum wage. a four seasons and person identified as sarah g. was added to and an amended version of the lawsuit. this was originally filed by lacy t. the lawsuit alleges that the cheerleader's contract it pay of $125 per home game, or 1002 much as $50 per season. they stated that this falls well below the state minimum wage of $8 an hour. the women contended that work nine hours on each game day and was also a 102 or 3 rehearsals. the suit also claims that the club operates in " flagrant violation. " >> the navy is investigating a cheating scandal. at least 36 sailors are accused of cheating on exams to become instructors. the accused and no longer have access to their training facilities in charleston, south carolina. this is the second, serious nuclear related cheating scandal to hit the military. last week, mo
in a statement this morning, he said >> " cvs caremark says a powerful example, and today's a decisionfforts to reduce tobacco related deaths, cancer, heart disease. " >> a second raiderette has joined a lawsuit claiming that the team fails to pay is a cheerleading squad the minimum wage. a four seasons and person identified as sarah g. was added to and an amended version of the lawsuit. this was originally filed by lacy t. the lawsuit alleges that the cheerleader's...
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to today'sso apply news that cvs caremark is going to phase out the sale of tobacco products in its storesat that is a generational wantssion of what someone to achieve? >> you can do it. that is exactly what deepak is all about. >> it is changing in the world. ok to hurt people. it is not ok to destroy their health. health reform is not health reform. it is insurance reform, as we look at it. true health reform will come when we take responsibility individually and collectively to create well-being for ourselves. >> you mentioned aarp. powerful force when it comes to government legislation. what role would something like as anarents.com play activist to change certain things? whether it be tobacco products being sold in cvs or other stores or even taking a stand on the affordable care act? >> we are not martyrs. >> ok. >> we are going to be advising. we are going to create trust. what you asked me before, one of the things we had with all of our groups, if you look at all of my acts, still performing today, they were not just throw away acts. the same thing with the brands that i created
to today'sso apply news that cvs caremark is going to phase out the sale of tobacco products in its storesat that is a generational wantssion of what someone to achieve? >> you can do it. that is exactly what deepak is all about. >> it is changing in the world. ok to hurt people. it is not ok to destroy their health. health reform is not health reform. it is insurance reform, as we look at it. true health reform will come when we take responsibility individually and collectively to...
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. >> cvs caremark saying that they will stop selling tobacco products by october 1. very interesting, they say they will stop selling tobacco products. >> a big change. the 7600 stores that they operate in the u.s. are going cold turkey. their largest provider of prescription drugs says that this will cut animal -- annual revenue by $2 billion. they are losing sales not only from cigarettes, but from people who might have been stopping in and buying other things. this is as they try to become more of a health care company. >> every day we are helping millions of patients manage tronic conditions, like high blood pressure, high cholesterol, and diabetes. all of these conditions are made worse by smoking. tobacco products have no place in a setting where health care is delivered. when we asked ourselves where we expect to be in the future as a health care company, it became clear that removing tobacco products from our stores is the right thing to do. >> president obama thinks it is the right thing to do as well. he put out a statement saying that as one of the largest
. >> cvs caremark saying that they will stop selling tobacco products by october 1. very interesting, they say they will stop selling tobacco products. >> a big change. the 7600 stores that they operate in the u.s. are going cold turkey. their largest provider of prescription drugs says that this will cut animal -- annual revenue by $2 billion. they are losing sales not only from cigarettes, but from people who might have been stopping in and buying other things. this is as they try...
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what is the hit for cvs caremark? look at those numbers. they may have kicked the habit today but they are kicking out $2 billion worth of sales, $0.17 per share out of their earnings. they say despite this. they changed 2014 profits, they have other ways, opportunities that upset profitability. the profitability impact. we don't know what they are. we also know in addition to all the other aforementioned people praising the news today, the smokeless cigarette folks loved it as well. look at what the folks at the m r product said, we applaud cvs for their bold and thoughtful decision but the fact is they do not sell smokeless cigarettes. we hope they will ultimately recognize the impact of electronic cigarettes which do not contain tobacco in this category. here is the aforementioned statement from walgreen's. they say you are holding the line on this, quote, from walgreen's we will continue to evaluate the choice of product our consumers want while also helping to lead duquesne them and providing smoking cessation products to reduce the de
what is the hit for cvs caremark? look at those numbers. they may have kicked the habit today but they are kicking out $2 billion worth of sales, $0.17 per share out of their earnings. they say despite this. they changed 2014 profits, they have other ways, opportunities that upset profitability. the profitability impact. we don't know what they are. we also know in addition to all the other aforementioned people praising the news today, the smokeless cigarette folks loved it as well. look at...
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. >> a major announcement this morning from cvs- caremark.onger sell tobacco kron 4's jackie sissel is at the c-v-s in walnut creek with more. >> this is a big statement by them. there are the second largest drugstore retail only behind walgreen's. a lot of people were caught off guard and they did not know this was coming. they announced that if you buy your products here you will have to go somewhere else because come october 1st, they are born to no longer sell any type of tobacco related products. the ceo basically stated the they have come to the conclusion the cigarettes have no setting for health care and it is being delivered. >> it will cost them, more than a little bit. they stated on an annual basis they generate about $2 billion in revenue. they stated that this is the right thing to do and that they're going to do it. that will start to do this almost immediately. i spoke with people earlier and some of them had this to say. >> well, i only go here for emergencies for cigarettes and it won't be too a conveyance. maybe is the pres
. >> a major announcement this morning from cvs- caremark.onger sell tobacco kron 4's jackie sissel is at the c-v-s in walnut creek with more. >> this is a big statement by them. there are the second largest drugstore retail only behind walgreen's. a lot of people were caught off guard and they did not know this was coming. they announced that if you buy your products here you will have to go somewhere else because come october 1st, they are born to no longer sell any type of...
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cvs caremark says the sale of tobacco products of any kind is inconsistent with our purpose. they will be gone by october 1st. our casey winans joins us from los angeles. why the decision now and why wait until october, months and months away, for this to be carried out? >> ashleigh, we just got off a conference call with larry merlot who says that selling toe back toe products, goes against all they stand for. it is sort of like a drug dealer owning a rehab facility. cvs say they are going to get out of the cigarette business. they are saying, ending the sale of cigarettes and tobacco products at cvs pharmacy is the right thing to do to help people on their path to better health. the put simply, the sale of tobacco products is inconsistent with our purpose. we are talking about 7600 cvs stores. the company saying it is the first national chain to do this. they are also saying they hope it sets an example for other stores, other pharmacies, that they will follow suit and do this as well. cvs admitting that just this move by the one company is not going to have a huge impact o
cvs caremark says the sale of tobacco products of any kind is inconsistent with our purpose. they will be gone by october 1st. our casey winans joins us from los angeles. why the decision now and why wait until october, months and months away, for this to be carried out? >> ashleigh, we just got off a conference call with larry merlot who says that selling toe back toe products, goes against all they stand for. it is sort of like a drug dealer owning a rehab facility. cvs say they are...
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Feb 8, 2014
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we also get more information on cvs caremark, more on that decision to kick tobacco out of the stores. as well as we hear from trip adviser which rallied seven points. while i adore trip adviser, i don't know if it can maintain this altitude after that spectacular run. wednesday, i'm calling it disappointment day. we can expect to be disappointed by deere. why do i say that? remember the downbeat performance earlier this week? we really have to question the notion that this time could be different. we can anticipate negative chatter that has let us down time and time again. and we need to be prepared for less than robust figures from snack food giant mondelez. if any of these say anything good, you can expect a sharp move higher. that's how beat down the expectations have become for these three going into the quarter. when on the other side of the equation where the expectations started getting better, whole foods. investors are betting that the disappointing last quarter was an aberration and that things will snap back nicely after the company lowered the bar with the previous quarte
we also get more information on cvs caremark, more on that decision to kick tobacco out of the stores. as well as we hear from trip adviser which rallied seven points. while i adore trip adviser, i don't know if it can maintain this altitude after that spectacular run. wednesday, i'm calling it disappointment day. we can expect to be disappointed by deere. why do i say that? remember the downbeat performance earlier this week? we really have to question the notion that this time could be...
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we've heard from the white house, the president's statement, "i applaud this morning's news that cvs caremarktes and other tobacco products in its stores. this will help advance my administration's efforts to reduce tobacco-related deaths, cancer and heart disease as well as bring down health care costs, ultimately saving lives." michelle obama tweeted from her account, thanks, now we can all breathe a little easier and our families can live healthier. i would still push back a little about alcohol. but in a lot of places, they sell alcohol and it's very accessible to those who are abusers of that and arguably -- >> that's a good point. >> a major health issue as well. >> that's a good point. that's right. but 18% of americans, only 18% of americans smoke right now, down from 45% or so, back 50 years ago. so the rate has been dropping. but of course, it's also kind of levelled off over the last few years. and there has been this real dramatic push over the last few months to reinvigorate, if you will, this attempt to get people to put down cigarettes or never start in the first place. 3300 ch
we've heard from the white house, the president's statement, "i applaud this morning's news that cvs caremarktes and other tobacco products in its stores. this will help advance my administration's efforts to reduce tobacco-related deaths, cancer and heart disease as well as bring down health care costs, ultimately saving lives." michelle obama tweeted from her account, thanks, now we can all breathe a little easier and our families can live healthier. i would still push back a little...
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we also get more information on cvs caremark, more on that decision to kick tobacco out of the storesas well as we hear from trip adviser which rallied seven points. while i adore trip adviser, i don't know if it can maintain this altitude after that spectacular run. wednesday, i'm calling it disappointment day. we can expect to be disappointed by deere. why do i say that? remember the downbeat performance earlier this week? we really have to question the notion that this time could be different. and we need to be prepared for less than robust figures from mondelez. if any of these say anything good, you can expect a sharp move higher. that's how beat down the expectations have become. when on the other side of the equation where the expectations started getting better, whole foods. investors are betting that the disappointing last quarter was an aberration and that things will snap back nicely after the company lowered the bar with the previous quarter. all i know is the organic and natural super market chain i told you to avoid, fairway got crushed today. you've got to go with best
we also get more information on cvs caremark, more on that decision to kick tobacco out of the storesas well as we hear from trip adviser which rallied seven points. while i adore trip adviser, i don't know if it can maintain this altitude after that spectacular run. wednesday, i'm calling it disappointment day. we can expect to be disappointed by deere. why do i say that? remember the downbeat performance earlier this week? we really have to question the notion that this time could be...
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president obama praised the decision saying, quote, cvs caremark sets a powerful example.ecision impact the fight against tobacco use and the more than 480,000 smoking-related deaths in the u.s. every year? joining me now from new orleans is former u.s. surgeon general, dr. benjamin. now endowed chair of public health at xavier university in louisiana. dr. benjamin is hosting a summit on the tobacco report this tuesday. the purpose of the event is to find out what will lead to tobacco-friedgen ration. good morning, dr. benjamin. >> good morning. >> i want to ask a question about this. if cvs is making a decision at this point to lose something like $2 billion in sales, this strikes me as really surprising on the part of a whole corporation. >> i come end cvs and caremark on taking such a bold and courageous step and putting people's lives before dollars and helping this become a more healthy and fit nation. this couldn't come at baiter time because this is an anniversary of the 50th anniversary of the surgeon general's first tobacco report and we are celebrating that right
president obama praised the decision saying, quote, cvs caremark sets a powerful example.ecision impact the fight against tobacco use and the more than 480,000 smoking-related deaths in the u.s. every year? joining me now from new orleans is former u.s. surgeon general, dr. benjamin. now endowed chair of public health at xavier university in louisiana. dr. benjamin is hosting a summit on the tobacco report this tuesday. the purpose of the event is to find out what will lead to tobacco-friedgen...
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out a statement almost immediately that said in part, quote, i congratulate and thank the ceo of cvs caremark, larry merlot to make a choice that will have a profoundly positive impact on the health of the country. and then there was this tweet from the first lady, michelle obama saying, "thanks cvs extra, now we can breathe easier and our families can live healthier." casey wian is joining us. $2 billion in annual tobacco sales. a lot of money. walk us through what was behind the cvs decision? >> reporter: according to the cvs president, he had a conference call with reporters this morning and said that selling tobacco products goes against everything that cvs stands for. they say, as you mentioned, they're going to get rid of all of the tobacco products by october. and they're going to double down on the smoking cessation product part of their business. it's always been kind of a weird picture to walk into a cvs or any other drugstore and see tobacco products behind the cash register and then back by the pharmacy you see all these stop smoking products. so they're going to concentrate on th
out a statement almost immediately that said in part, quote, i congratulate and thank the ceo of cvs caremark, larry merlot to make a choice that will have a profoundly positive impact on the health of the country. and then there was this tweet from the first lady, michelle obama saying, "thanks cvs extra, now we can breathe easier and our families can live healthier." casey wian is joining us. $2 billion in annual tobacco sales. a lot of money. walk us through what was behind the cvs...
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we're right to urge you as a company committed to health and wellness of its customers to follow cvs caremark'sing tobacco products and promote cessation efforts in all stores. pretty soon you can't buy cigarettes but you can buy weed. >> i can't recall in recent memory, or anytime seeing congress in such concerted effort in one industry to remove tobacco products. yes, tobacco is at at root of all sorts of cancers and i'llness that is cause death. this for the first time, we're seeing a band of democrat senators you know what, pull tobacco from your store shelves. that might be unprecedented. stuart: it has done cvs a lot of good. the stock price is up when they announced it. it went down initially but now is back. >> drugstores turn into mini clinics and get your heart checked and others as well, will be difficult to look to the side and see tobacco products. i think that is what is going on. stuart: i have to move on. stuart: i want to move to the weather. national weather service calling the storm, this is the national weather service, a catastrophic event. the city will basically shut down
we're right to urge you as a company committed to health and wellness of its customers to follow cvs caremark'sing tobacco products and promote cessation efforts in all stores. pretty soon you can't buy cigarettes but you can buy weed. >> i can't recall in recent memory, or anytime seeing congress in such concerted effort in one industry to remove tobacco products. yes, tobacco is at at root of all sorts of cancers and i'llness that is cause death. this for the first time, we're seeing a...
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. >> kicking the habit, cvs caremark takes a habit, a move that will cost the company $2 billion per ar. this is "market makers," everyone. >> this is the big news from cvs, a move that we have heard the president is in support of, mothers like me are in support of, but the question is, our shareholders? >> mostly. if you are going to assess the economic investor impact of a decision, like the one they just made, not selling tobacco products says -- look, no further than the stock price. last time i looked, it was down only like $.30. >> this is a major move. this is the first company we are seeing doing something like that. the question is, will it be broader-based? >> will it be broader? will walgreens step into it? >> air mark had their earnings this morning. they provide the food at the big stadiums out there with a great morning, but what do you buy there? hot dogs, beer, popcorn, soda. >> we are beginning with breaking economic news. the markets are watching for any piece of data very closely to get a sense of what is happening in the u.s. economy. a key gauge of the u.s. servic
. >> kicking the habit, cvs caremark takes a habit, a move that will cost the company $2 billion per ar. this is "market makers," everyone. >> this is the big news from cvs, a move that we have heard the president is in support of, mothers like me are in support of, but the question is, our shareholders? >> mostly. if you are going to assess the economic investor impact of a decision, like the one they just made, not selling tobacco products says -- look, no further...
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. >>> and big news from cvs caremark announcing it will stop selling cigarettes and other tobacco productss 7,600 stores by october 1st of this year. >> whoa. that is an interesting story. >>> futures extending their losses this morning after the adp employment report showed 175,000 private sector jobs were created last month. that is a bit below economists' forecasts, investors also paying attention to fiscal distress in puerto rico s&p downgrading the country's general obligation bonds to junk level status. why do you say do we care about puerto rico it's issued over $70 billion worth of bonds and it's a large issuer and given its triple free status, it winds up in a lot of other focused municipal bond funds. >> that's what's going on. >> that's why it's broadly throughout the municipal world and that's why we should at least be aware of it and see what the impact is not that this was unexpected because there were many anticipating it would, in fact, happen. >> i was surprised to see they're the third largest issuer s of munis after california and new york. >> i used to sell tons of thes
. >>> and big news from cvs caremark announcing it will stop selling cigarettes and other tobacco productss 7,600 stores by october 1st of this year. >> whoa. that is an interesting story. >>> futures extending their losses this morning after the adp employment report showed 175,000 private sector jobs were created last month. that is a bit below economists' forecasts, investors also paying attention to fiscal distress in puerto rico s&p downgrading the country's...
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dagen: cvs caremark makinn big headlines yesterday announcing it is pulling auto back coproducts fromoctober 1st. connell: our next guest says simply this is the right time for this to happen. our friend, dr. devi, the professor at nyu school of medicine. why, why is the right time for this to happen. >> cigarette sales are going down, they have been going down 30% over the past decade. in terms of people smoking in 1965, said 40% or more thep poppopulation smoked. now it is under 20%. vcs may lose money but it is the ad ideal time for them to get out of this. >> do you think retailers and chains will start doing this and not selling cigarettes any longer? seems like the percentage of americans who smoke has plateaued or evened out somewhat in recent yyars. don't we need something to kick-start it to get more people to quit? >> they might. they might take that approach but the other thing is, why don't we say we absorb customers coming from cvs. connell: right. >> people do have to buy cigarettes. @n addition people buy cigarettes and buy other things from the pharmacy they buy other
dagen: cvs caremark makinn big headlines yesterday announcing it is pulling auto back coproducts fromoctober 1st. connell: our next guest says simply this is the right time for this to happen. our friend, dr. devi, the professor at nyu school of medicine. why, why is the right time for this to happen. >> cigarette sales are going down, they have been going down 30% over the past decade. in terms of people smoking in 1965, said 40% or more thep poppopulation smoked. now it is under 20%....
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also cvs caremark moved higher. two companies gained ground on a drug deal.ged after they agreed to be acquired by a specialty pharma company for $1.3 billion or $14 a share. now, a tough day though for the animal sciences company. gave a disappointing outlook for the full year. we have also got a slew of after hours earning reports. we'll bring you the details as they become available. >> let's get more on today's huge rally. the panel is back with me. courtney reagan also joining us from the new york stock exchange, seema mody at the nasdaq and rick santelli at the chicago mercantile exchange. a huge day, dr. j. a lot of people are saying too far, too fast. >> disagree. disagree. and i think the point that you made about when you're at 16,000 or thereabouts, 200-point move is not a huge move. a 200-point move on a 5,000 point index is a big move. up here, not so big. the fact that the market doesn't like what it doesn't know when there are uncertains out there, the market gets nervous about that, that was the jobs report last week. that was janet yellen tod
also cvs caremark moved higher. two companies gained ground on a drug deal.ged after they agreed to be acquired by a specialty pharma company for $1.3 billion or $14 a share. now, a tough day though for the animal sciences company. gave a disappointing outlook for the full year. we have also got a slew of after hours earning reports. we'll bring you the details as they become available. >> let's get more on today's huge rally. the panel is back with me. courtney reagan also joining us...
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first up, cvs caremark reported $1.12 a share profit. sensus. >> cvs, the stock up by just over 1%. >>> print reporting fourth quarter losses, 26 cents a share, smaller than the 33 cents loss that wall street was expecting. revenue was better than analysts had been expecting and sprint which is 80% owned by japan's -- said it added to subscribers during the quarter. ingersoll-rand matched ikes a w variety of heating, air conditioning and fluid systems. they say inflation is affecting results. >> the latest read on small business is out. cnbc's steve liesman is here with data and a guess. who's your guest? >> if you could guess. >> dunkleburg. >> yes! >> is it every month? >> every month. this is our dedication among the things to dedicate to small business in the economy. >> 0.2 to 94.1. that's the small business index from the national federation of independent businesses. it remains below the 100 average of the prerecession. your typical downbeat report this morning, i slightly disagree. i saw a few golden snug thes that made me a littl
first up, cvs caremark reported $1.12 a share profit. sensus. >> cvs, the stock up by just over 1%. >>> print reporting fourth quarter losses, 26 cents a share, smaller than the 33 cents loss that wall street was expecting. revenue was better than analysts had been expecting and sprint which is 80% owned by japan's -- said it added to subscribers during the quarter. ingersoll-rand matched ikes a w variety of heating, air conditioning and fluid systems. they say inflation is...
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what about -- so how is cvs caremark and is bloomburg on your board now? can't buy cigarettes, what about a big gulp, can't buy a 24-ounce coke at cvs? why are you deciding for me i can't buy a cigarette at your store? >> we're deciding we won't sell them to you. i think the issue is -- >> where do you take it from here? what's after this? candy? sugar? >> i like this move. >> i know. you like the nanny state. >> further on you than me. >> only the most cynical are trying to make a bad face on this. >> that's why you came to me. >> we're a retail company in our roots. added pharmacy, people forget this was consumer value stores and now we're more of a health care company. we have minute clinics and the prescription benefit caremark business and we see ourselves in the future growing more and it's consistent for a company that calls itself a health care company to sell cigarettes. it's a principled decision and the management brought it to the board and the board agrees. >> i like it. >> herb callaher is 82 years old. what if you want to smoke two cigarette
what about -- so how is cvs caremark and is bloomburg on your board now? can't buy cigarettes, what about a big gulp, can't buy a 24-ounce coke at cvs? why are you deciding for me i can't buy a cigarette at your store? >> we're deciding we won't sell them to you. i think the issue is -- >> where do you take it from here? what's after this? candy? sugar? >> i like this move. >> i know. you like the nanny state. >> further on you than me. >> only the most...
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the president made a statement as well applauding cbs caremark, which is not selling cigarettes. >> wow! >> no tobacco products in cvsing? >> it better. let me tell you something, we have so many problems with the products we use and the food we eat, sugar and salt and all that and that is proven in a court of law. why would you as a retailer want to sell that? it's so brave. >> it's most important on the humanistic level. you can do the right thing, which seems like a sacrifice. but at the end of the day, the consumer can feel that. they'll go you know what, we like this company. >> how do you think they made the decision? financially they're probably going to take the hit. >> the decisions are made by people. i'll bet if you go up the ranks, the ceo lost someone to lung cancer. he actually has morality mixed in with his business model and sometimes even loses some money in order to do the right thing. >> you don't do it for that reason but the irene is financially it makes sense. >> i think over the next five, six years given the employment problems we have in this country, job growth, i think for lack of a better
the president made a statement as well applauding cbs caremark, which is not selling cigarettes. >> wow! >> no tobacco products in cvsing? >> it better. let me tell you something, we have so many problems with the products we use and the food we eat, sugar and salt and all that and that is proven in a court of law. why would you as a retailer want to sell that? it's so brave. >> it's most important on the humanistic level. you can do the right thing, which seems like a...
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caremark. it will ban tobacco in all its stores by october. >> we will see what happens when green mountain reopens. take a look at what's happen been happening with the cvswill stop carrying tobacco products by october. who will profit from cvs not carrying these products. stacy from sw retail advisers joins me. great to see you. >> hey, kelly. >> difficult truth is people will still buy cigarettes. >> they absolutely will. 18% of americans still smoke, unfortunately, and i guess the good news for them is that the dollar store, family dollar, and dollar general just started selling tobacco products. family dollar started selling them in 2012 and dollar general just in 2013. this is a win for those two companies because not only, you know, will they maybe get some share, but the more people that come in, they will buy extras potentially when they go in to get their cigarettes. >> i'm curious about two things. how much do tobacco sales drive foot traffic and how much of a halo effect is there where people buy other things when they go for cigarettes? >> it's interesting. dollar general last quarter, they have only had tobacco in their stores for a few quar
caremark. it will ban tobacco in all its stores by october. >> we will see what happens when green mountain reopens. take a look at what's happen been happening with the cvswill stop carrying tobacco products by october. who will profit from cvs not carrying these products. stacy from sw retail advisers joins me. great to see you. >> hey, kelly. >> difficult truth is people will still buy cigarettes. >> they absolutely will. 18% of americans still smoke, unfortunately,...
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the white house putting out a statement just now, george, congratulating and thanking the ceo of cvs caremark it will have a positive impact on america's health. thank you. >>> to the search for a missing virginia police captain. kevin quick vanished never showing up to a birthday party on saturday that he had planned for his brother. authorities suspect foul play. abc's steve osunsami has the latest on the misery thrt this morning virginia police are searching for one of their own. >> greatest fear is obviously the worst case scenario and that we would not get him back. >> reporter: kevin quick, a 45-year-old police captain and young father never showed up to the surprise party that he had been planning for his younger brother last saturday. police believe he disappeared friday night and the last anyone knew he was heading to visit a friend. surveillance photos show his silver suv in two different parts of the state on saturday, three days later police found it abandoned here nearly 60 miles away outside a home in mineral, virginia. his friends and family in blue suspect foul play. >> these
the white house putting out a statement just now, george, congratulating and thanking the ceo of cvs caremark it will have a positive impact on america's health. thank you. >>> to the search for a missing virginia police captain. kevin quick vanished never showing up to a birthday party on saturday that he had planned for his brother. authorities suspect foul play. abc's steve osunsami has the latest on the misery thrt this morning virginia police are searching for one of their own....