McKesson boosts full-year outlook, shares rise

Pharmaceutical wholesaler McKesson Corp boosted its full-year earnings forecast range by 10 cents, signaling expectations of a particularly strong fourth quarter and its shares rose to a level not seen in more than 10 years.

Excluding items, such as a large litigation charge, McKesson said it earned $1.12 per share for its fiscal third quarter, beating analysts average expectations by one cent, according to Thomson Reuters I/B/E/S.

But for the full fiscal year, McKesson said it now expects to earn $4.82 to $5.02 per share, excluding items, up from its prior view of $4.72 to $4.92. Wall Street had been estimating full-year earnings of $4.82 per share and McKesson shares rose 1.1 percent in after-hours trading to $76 -- a level last touched in 1999.

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- Posted: 2011-01-31 21:51:03

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