NEW YORK — CVS Health fell short on third-quarter profit, but it posted strong sales Nov. 6, and the health care giant shook up leadership under new CEO David Joyner after a rough year that has sent its shares plunging. The company earned $87 million in the three months ended in September, down 96 percent from a year ago.
The results were weighed down by hefty restructuring charges. On an adjusted basis, earnings per share totaled $1.09, short of the average forecast of $1.
44. Revenue rose 6.3 percent to $95.
43 billion, topping estimates. CVS also named UnitedHealth executive Steve Nelson as the leader of its troubled Aetna health insurer, effective immediately. Prem Shah, who joined the company in 2013, will lead the CVS Caremark, CVS Pharmacy and Health Care Delivery businesses.
Previous CEO Karen Lynch resigned Oct. 18. TOKYO — Toyota's July-September profit sank to less than half of what it was in the same period the previous year, as a production stoppage that followed a certification scandal and recalls dented vehicle sales, the Japanese automaker said Nov.
6. Toyota Motor Corp.'s quarterly profit through September totaled $3.
7 billion. Sales for the period rose slightly to $75 billion. Toyota, which makes the Camry sedan and Lexus luxury models, apologized and suspended production on some models after acknowledging wide-ranging fraudulent testing, including the use of inadequate or outdated data in crash tests, as well as incorrect testing of airbag inflation.
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