DGX's earnings increased from $154 million (79 cents per share) 1 year ago to $170 million (87 cents per share), beating analysts’ expectation. The company also plans to buy back up to $500 million of stock.
Shares jumped more than 8 percent on July 5th when speculation renewed about Quest being the target of a take-over.
Stock price increased by 4% on the 7th after rival LabCorp renewed its contract with health insurer Cigna Corporation, but was not named as the exclusive contractor.
After lowing fiscal year 2007 estimates to be in line with analyst expecations, Quest's stock price dropped and stayed low through the month of May.