10 Stocks Lead Rally Amid Market Bloodbath

5. CVS Health Corporation (NYSE:CVS)

CVS Health saw its share prices jump by 5.92 percent on Tuesday to finish at $67.63 apiece following the US government’s announcement that it would more than double payments for the Medicare Advantage plans to $25 billion by next year.

CVS, one of the Medicare-focused health insurance companies, is set to benefit from the government plan alongside peers in the sector that are reeling from steep medical costs.

In other news, CVS also raised its growth outlook for the year and named a new chief financial officer.

The pharmacy and health insurance giant now expects to meet or exceed its previously adjusted earnings per share of $5.75 to $6.

Meanwhile, CVS named former UPS CFO Brian Newman as its new CFO. He is set to assume the role on April 21, 2025.

The company also named Amy Compton-Phillips as its chief medical officer effective May 19. She recently served as chief physician executive for Press Ganey.

The management shakeup followed CVS’ change in CEO in October last year when veteran David Joyner took the helm.