In this video from Wednesday's Investor Beat, host Chris Hill and Motley Fool analysts Jim Gillies and Bill Barker dig into the biggest business stories of the day for Foolish investors.
CVS has announced that as of Oct. 1, it will no longer sell cigarettes or related tobacco products. The second largest pharmacy chain in the U.S. does about $2 billion per year in tobacco revenue. While the media is applauding the move, the stock fell slightly today. In the lead story on today's Investor Beat, the guys discuss how big a deal it is that the company is leaving that $2 billion a year on the table from here on, and why they like the move in the long run.
Then, Bill and Jim look at three stocks making moves on the market today. 3D Systems fell hard today after the company issued a profit warning for the fourth quarter and the full year. The company is slated to announce earnings on Feb. 28. Retail franchiser Winmark popped today on the news that it will pay out a special dividend of $5 per share. And same-store sales for Buffalo Wild Wings rose more than 5% at its company-owned locations, but fourth-quarter revenue came in a bit light, and shares were down on the news.
And finally, Jim discusses Ascena Retail Group, parent company for Dress Barn among other retail chains, and why he'll be watching this multi-decade success story, while Bill looks at Advance Auto Parts, and why the rough winter weather this year is great news for an auto-parts store.
Bill Barker and Chris Hill have no position in any stocks mentioned. Jim Gillies owns shares of Winmark and has options on Ascena Retail Group. The Motley Fool recommends and owns shares of 3D Systems and Buffalo Wild Wings. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.