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Market Update : 
Medco Health Net Falls 66%
Author: Elena Todorova
123jump.com
Last Update: 10:23 AM EDT May 05 2006


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Stocks surged at opening on weaker-than-expected employment data which helped to offset worries about interest rate increases. The Labor Department said the U.S. economy added 138,000 jobs in April, compared with a forecast of 200,000. In earnings news, El Paso reported Q1 net income rise to $346 million or 49 cents per share. Sanofi-Aventis reported Q1 net income advanced 54% on 9.6% sales rise. Medco Health Solutions posted a 66% slide in Q1 profit, hurt by a $100 million charge.

 

 

 
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