CVS EARNINGS: WHAT THE BEAT MEANS FOR THE MARKETS

Credit: The Street
Published on November 6, 2019 - Duration: 02:00s

CVS EARNINGS: WHAT THE BEAT MEANS FOR THE MARKETS

Let's talk about Real Money stock of the day CVS .

The company posted earnings before the bell Nov.

6.

TheStreet's Martin Baccardax and Jeff Marks, senior portfolio analyst with Jim Cramer's Action Alerts PLUS portfolio, joined TheStreet to break down what the earnings mean for the markets.

"I think it was another important beat for the sector and it just shows that the second-half performance is really overshadowing the poor start that the sector had in the first six months of the year.

We're only up about 8.2% and that does trail the S&P 500 but I think investors are now starting to enjoy the defensive tenor of the sector.

They're seeing beets in the managed healthcare.

CVS being one.

United House being another.

And we're also getting some clarity on the potential settlements that companies are going to have to pay for the opioid crisis.

And that's giving investors a bit of confidence as well.

So I think the defensive tenor, the cash flow characteristics of this sector and the second half performance make it a good buy going into the final months of the year," said Baccardax.

"Even New York Mets fans appreciate the prolific home run call of the crosstown rival Yankees radio play by play announcer John Sterling.

"It is high, it is far...it is...GONE!!

Baseball season may be over.

Earnings season, not yet.

CVS Health hit one out of the park on Wednesday morning," wrote Real Money's Stephen Guilfoyle over on TheStreet's sister site.

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