McKesson

McKesson's second quarter sales rose 8 percent to 111 billion dollars, and adjusted profit per share jumped 18 percent to 11.68 dollars. For the second quarter in a row, leadership raised its full year forecast, now 45.60 to 46.40 dollars per share. That works out to 17 to 19 percent profit growth for the year.

Cancer care sales grew 24 percent to 15 billion dollars, as more treatment moves to neighborhood clinics that McKesson supplies. The company is doubling down by agreeing to invest about 1.4 billion dollars for roughly half of Option Care Health, which helps patients get complex specialty treatments closer to home. It also just finished buying Precision Medicine Group.

McKesson moved 111 billion dollars of products this quarter but kept only about 1.2 billion dollars as profit, roughly a penny on every dollar of sales. With so little cushion, a small pricing squeeze from a drug maker or a big customer can take a real bite out of earnings.

McKesson is splitting off its medical supply business while also buying Precision Medicine Group and putting about 1.4 billion dollars into Option Care Health. That is a lot to manage at once, and the medical supply unit's adjusted profit already fell 10 percent this quarter. Cancer care profit also grew just 8 percent, even though its sales jumped 24 percent.