Diamonds and Dogs

8/29/23

AT&T (T) and Verizon (VZ) are higher on upgrades. Both stocks are up 3% as the analyst at Citigroup upgraded the stocks to buys with $17 and $40 price targets saying the dividends look safe and any cleanup costs from any toxic lead that covers their underground cables is manageable.

CVS Health (CVS) modestly lower heading into the fall and flue season. CVS Health will lay off 140 of its Massachusetts employees in October as part of its plan to eliminate 5,000 positions across the entire company. CVS Health recorded a $496 million restructuring charge in Q2 to cover severance and other employee-related costs related to the cuts.

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