U.S. Stocks Open Higher, Express Scripts Boosts Guidance

U.S. stocks open higher as Express Scripts says it will beat earlier issued earnings guidance by a mile.
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U.S. stocks open higher as Express Scripts (ESRX) says it will beat earlier issued earnings guidance by a mile. The pharmaceutical benefits company says it's earnings will be 10 to 14% higher than previously thought. Express Scripts has used its large customer base to try to keep a lid on rising drug prices. The St. Louis company forecasts adjusted earnings to range between $6.08 and $6.28 per share. The low end of that range tops the average analyst estimate for next year by three cents, according to FactSet. JP Morgan analysts says 2016 should be a strong one for the company. Express Scripts heads into 2016 facing a transition. Express Scripts announced in September that CEO George Paz will retire in May and be replaced by Tim Wentworth, company president. Paz will remain company chairman. He has served as Express Scripts chief executive for more than a decade.