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Wednesday, May 8
McKesson (MCK +6%) racks up a gain today despite posting lackluster Q1 results yesterday,...
McKesson (MCK +6%) racks up a gain today despite posting lackluster Q1 results yesterday, missing on both EPS and revenue as net earnings fell 50% Y/Y due to declining revenue and higher operating expenses. The caveat comes out of its FY14 guidance, which - on the surface at least - was largely in-line with Street estimates. However, according to Credit Suisse, buy-side analysts appear to have priced in expectations $0.10 - $0.15 lower than the sell-side consensus, thereby giving the juice for today's upside move.