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CVS Health

Rite Aid beats Street 2Q forecasts

Shares of Rite Aid tumbled Thursday after the nation's third-largest drugstore chain lowered its annual profit forecast again and reported fiscal second-quarter earnings that tumbled 83 percent partly on debt retirement and deal costs. The Camp Hill, Pennsylvania, company now expects fiscal 2016 earnings to range between 12 cents and 19 cents per share after lowering the forecast in June to 14 cents to 22 cents per share. Analysts were looking for earnings of 19 cents per share on average, according to FactSet. For the second-quarter, Rite Aid earned $21.5 million, down from $129.2 million a year ago when it booked a roughly $40 million benefit from a drug purchasing and delivery...