• Kraft (NYSE:KFT) reported third quarter earnings of 55 cents a share on revenues of $9.8 billion, beating Zacks estimates of 48 cents, but slightly below revenue projections of $10.24 billion

• MedcoHealth Solutions (NYSE:MHS) reported third quarter earnings of 75 cents ex-items, 4 cents above Zacks estimates, on revenues of $14.80 billion, up from estimates of $14.71 billion

• Miller Tabek upgraded entertainment stocks such as CBS (NYSE:CBS), Entravision (NYSE:EVC), News Corp. (NASDAQ:NWS), Viacom (NYSE:VIA.B), and Disney (NYSE:DIS) from "neutral" to "buy"

• Disney (NYSE:DIS) said China approved its plans for a $3.5 billion theme park in Shanghai, set to open in 2014 at the earliest

• Time Warner (NYSE:TWX) reported third quarter earnings of 61 cents a share, ahead of Zacks estimates of 52 cents.  Revenue of $7.14 billion was almost inline with Zacks estimates.  The firm said it sees full-year earnings of at least $2.05

• Garmin (NASDAQ:GRMN) reported third quarter earnings of $1.02 a share, versus Zacks estimates of 70 cents on revenues of $781 million, which beat Zacks estimates of $695 million

• Energizer Holdings (NYSE:ENR) was removed from Goldman Sachs' (NYSE:GS) Conviction Buy List, on the outlook for disappointment in its margin recovery

(BIOS) BioScrip Earnings Report Beats Forecasts in Q3

(ESRX) Express Scripts’ Earnings Report is In-Line With Forecasts

Technician Leo Fasciocco looks for "breakout" stocks in his Ticker Tape Digest advisory. Here, the advisor  reviews pharmacy services firm, Medco Health Solutions (NYSE: MHS).

"With annual revenues: of $51 billion, Medco provides pharmacy benefit management services a pharmacy services designed to help lower the cost of healthcare. 

"Its services are provicded through its national networks of retail pharmacies and its own mail-order pharmacies, as well as through its specialty pharmacy segment, Accredo Health Group. , a pharmacy services firm that helps lower the cost of healthcare.

"Technically, the stock has edged out from an eight-week flat base recently to hit an all-time high. The action is nicely bullish. The stock also has a low beta of 0.47 versus 1.00 for the stock market. So, it is half as volatile as the stock market.

"The stock began trading in 2003 and has stayed in a solid up trend. It weathered the bear market very well. It has since come back strongly. Over the past 12 months, MHS's stock appreciated 45% versus an 18% rise for the S&P 500 index. It has done well for a big cap issue.

"The stock's momentum indicator is extremely bullish. The accumulation - distribution line is in a strong up trend. That shows good buying interest that should be supportive of a push higher.

"This year, MHS should show a 20% increase in net to $2.78 a share from $2.33 a year ago. The stock sells with a price-earnings ratio of 20, which is reasonable. Going out to 2010, the Street sees net climbing 16% to $3.24 a share.

"Institutional sponsorship is excellent. The largest fund holder is 4-star rated T. Rowe Price Growth Stock Fund with a 2.4% stake. It was the largest buyer recently picking up 633,000 shares. Also, 5-star rated Fidelity Contrafund purchased 363,000 shares recently.

"The stock is a good looking big cap play. We are targeting the stock for a move to 66 within the next few months. A protective stop can be placed near 54, which is tight. Overall, we rate MHS a good intermediate-term play for conservative investors."