Shares of Express Script Holding Co. topped $60 for the first time in more than a year and were on track to set an all-time high closing price Wednesday, a day after the pharmacy benefits manager reported second-quarter results that trumped expectations. It also raised its 2012 forecast.
THE SPARK: The St. Louis company said Tuesday after markets closed that it recorded adjusted earnings of 88 cents per share in the three months that ended June 30, as generic drugs helped net income and the company saw better-than-expected savings from its acquisition of Medco Health Solutions.
Express Scripts also said it now expects 2012 earnings of $3.60 to $3.75 per share this year, up from its previous range of $3.36 to $3.66 per share. The company's second-quarter revenue more than doubled to $27.69 billion with the Medco acquisition.
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