CVS Health (CVS) CEO Karen Lynch will be replaced by longtime executive David Joyner following extended profit struggles, according to the Wall Street Journal. CVS shares are falling by over 6% in Friday's pre-market session.

Morning Brief hosts Seana Smith and Brad Smith report on this headline as the pharmacy chain shares preliminary guidance for its third quarter while withdrawing its 2024 profit forecasts reported in the second quarter on August 7.

CVS is scheduled to report third quarter results on Wednesday, November 6.

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This post was written by Luke Carberry Mogan.