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What: Shares of Express Scripts (NAS: ESRX) have popped today by as much as 15% after the company reported third-quarter earnings ahead of analysts' expectations.
So what: The pharmacy benefits manager reported third-quarter revenue of $11.6 billion, which translated into adjusted earnings per share of $0.79. Analysts were calling for $11.3 billion in revenue and $0.77 in earnings per share.
Now what: The company has been trying to merge with MedcoHealth Solutions (NYS: MHS) recently in a $29.1 billion deal, and the CEOs of both companies have expressed confidence that the acquisition will pass regulatory muster. Express Scripts has also been locked in a contract dispute with drugstore company Walgreen (NYS: WAG) , which has been weighing on shares. Analysts largely think the dispute with Walgreen won't see a resolution until next year.
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At the time thisarticle was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio.Motley Fool newsletter serviceshave recommended buying shares of Medco Health Solutions. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.