CVS Drops on Investor Worries About Government Ratings (1)

CVS Health Corp. shares dipped after executives during a private investor meeting provided no details about its upcoming quality ratings from the US government and offered no financial guidance.

Chief Executive Officer David Joyner and Chief Financial Officer Brian Newman made the remarks in a presentation to investors hosted by Morgan Stanley on Monday, according to a person familiar with the event who asked to remain anonymous discussing what was said.

CVS shares fell as much as 5.7% Monday morning, before paring losses.

Later in the presentation, one of the executives noted the drop in the stock price and said ...