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Mail-Order Business Boosts Caremark Rx.(B)(NYSE STOCKS IN THE NEWS)
Byline: Craig Shaw
Caremark Rx is shaping a 26-week base after peaking at 21.95 on May 1. It's back above its 50- and 200-day averages, trading 16% off its high.
The employee prescription benefit plan manager said Oct. 24 that third-quarter profit rose 63%, boosted by higher drug volume. It beat estimates by 3 cents a share and raised 2002 forecasts to $1.15 from the earlier range of $1.06-$1.08.
Caremar, though smaller than rivals AdvancePCS and Express Scripts, has earned the No. 2 spot in the industry in the lucrative mail-order drug business, according to a Dec. 28, 2001, New America article.
It's posted solid ...
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