This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Merck Completes Medco Spinoff

Pharmaceutical giant Merck (MRK - Get Report) completed the spinoff of Medco Health Solutions (MHS), its pharmacy benefits division, to its stockholders on Wednesday.

Merck stockholders received 0.1206 Medco common shares for each Merck share they held on Aug. 12. Shares of Medco were recently trading at $24.26, up 41 cents.

Medco had revenue of $33 billion in 2002, and last year it filled or processed about 548 million prescriptions.

Regular trading began today on the New York Stock Exchange for Medco's securities follows the distribution of 270 million shares to stockholders of Merck, which has owned Medco Health since 1993. Also with the opening day of trading, Medco joined the S&P 500.

Shares of Merck were adding 41 cents to $51.25.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
MHS $70.30 0.00%
MRK $60.26 -0.38%
AAPL $125.01 -0.63%
FB $78.10 0.70%
GOOG $524.22 -1.24%


DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs