Amazon effect works in reverse as CVS investors get over fears

CVS' STOCK PRICES JUMPED on a report that Amazon.com Inc. had shelved plans to ship prescription drugs for now. / BLOOMBERG FILE PHOTO/CHRISTOPHER LEE
CVS' STOCK PRICES JUMPED on a report that Amazon.com Inc. had shelved plans to ship prescription drugs for now. / BLOOMBERG FILE PHOTO/CHRISTOPHER LEE
NEW YORK - CVS Health Corp., along with rival drugstores and drug distributors, rallied after a report that Amazon.com Inc. had shelved plans to sell drugs to hospitals and other businesses. The report on Monday by CNBC said little about whether Amazon would ultimately enter the broader retail prescription-drug market, but the idea that the…

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