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Thursday, October 6, 2011

Express Scripts shares jump as forecast reassures, (NASDAQ: ESRX), (NYSE: WAG), (NYSE: MHS)

Shares of Express Scripts Inc (ESRX.O) jumped 9.5 percent as the U.S. pharmacy benefit manager's profit outlook for 2011 was less dire than some investors had feared and the company offered positive financial forecasts through 2014. Express Scripts cut its projected 2011 profit range by about 6 percent, citing higher spending and fewer prescriptions being filled because of consumer worry about the weak economy. It said spending would rise due to a contract dispute with drugstore chain Walgreen Co (WAG.N) and in anticipation of integrating its $29 billion purchase of rival Medco Health Solutions Inc (MHS.N). Express Scripts last month warned investors of potentially weak prescription volume, causing some analysts to lower their profit forecasts and investors to send the stock down.

Express Scripts, Inc. is a pharmacy benefit management (PBM) operating in North America, offering a range of services to its clients, which include health maintenance organizations (HMOs), health insurers, third-party administrators, employers, union-sponsored benefit plans, workers? compensation plans and Government health programs. Shares of ESRX traded higher by 9.88% or $3.55/share to $39.49. In the past year, the shares have traded as low as $34.47 and as high as $60.89. On average, 10485200 shares of ESRX exchange hands on a given day and today's volume is recorded at 13963931.

Walgreen Co. (Walgreen) together with its subsidiaries, operates a drugstore chain in the United States. Shares of WAG traded higher by 0.82% or $0.27/share to $33.30. In the past year, the shares have traded as low as $31.60 and as high as $47.11. On average, 8771990 shares of WAG exchange hands on a given day and today's volume is recorded at 1978936.

Medco Health Solutions, Inc. (Medco) is a healthcare company. Shares of MHS traded higher by 5.74% or $2.62/share to $48.27. In the past year, the shares have traded as low as $44.60 and as high as $66.38. On average, 5700540 shares of MHS exchange hands on a given day and today's volume is recorded at 3520236.



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