Express Scripts Inc posted better-than-expected third-quarter earnings on Tuesday as the U.S. pharmacy benefit manager reported increased use of more profitable generic drugs.The company also said it expected strong client retention in 2012 despite a contract dispute with Walgreen Co that threatens to leave the drugstore chain out of Express' pharmacy network.Express, which has agreed to acquire rival Medco Health Solutions Inc , said third-quarter net income rose to $324.7 million, or 66 cents per share, from $301.5 million, or 56 cents per share, a year earlier.Excluding items, earnings of 79 cents were 2 cents ahead of the average estimate of analysts, according to Thomson Reuters I/B/E/S.
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 fell by 4.89% or $-1.98/share to $38.47. In the past year, the shares have traded as low as $35.69 and as high as $60.89. On average, 9715740 shares of ESRX exchange hands on a given day and today's volume is recorded at 10051643.
Itau Unibanco Holding S.A. is a bank in Brazil. The Company has four operational segments: Commercial Banking, Itau BBA, Consumer Credit and Corporate and Treasury. Shares of ITUB fell by 3.81% or $-0.72/share to $18.19. In the past year, the shares have traded as low as $14.47 and as high as $26.30. On average, 19460800 shares of ITUB exchange hands on a given day and today's volume is recorded at 18337948.
Walgreen Co. (Walgreen) together with its subsidiaries, operates a drugstore chain in the United States. Shares of WAG fell by 1.43% or $-0.49/share to $33.82. In the past year, the shares have traded as low as $32.00 and as high as $47.11. On average, 8504110 shares of WAG exchange hands on a given day and today's volume is recorded at 4149434.
Source
