Express Scripts’ stock soars 20% premarket after Cigna buyout deal

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Express Scripts shares rise as earnings, outlook top Street view

Express Scripts Holding Co. shares ticked higher in the extended session Tuesday after the pharmacy-benefits manager’s results and outlook topped Wall Street estimates. Express Scripts shares rose 3% after hours. The company reported fourth-quarter net income of $2.33 billion, or $4.10 a share, compared with $1.43 billion, or $2.34 a share, in the year-ago period. Adjusted earnings were $2.16 a share. Revenue rose to $25.38 billion from $24.86 billion in the year-ago period. Analysts surveyed by FactSet had estimated $2.09 a share on revenue of $25.1 billion. Express Scripts estimates earnings of $1.73 to $1.78 a share in the first quarter, and $9.27 to $9.47 a share for the year. Analysts expect earnings of $1.73 a share for the first quarter and $8.83 a share for the year. The company also said it will offer non-executive employees tax-cut bonuses of $500 to $2,000 each based on tenure.

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