BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Merck shares plummet 10%: earnings topped estimates, but no guidance]]>http://www.bloggingstocks.com/2008/07/21/merck-shares-plummet-10-earnings-topped-estimates-but-no-gu/http://www.bloggingstocks.com/2008/07/21/merck-shares-plummet-10-earnings-topped-estimates-but-no-gu/http://www.bloggingstocks.com/2008/07/21/merck-shares-plummet-10-earnings-topped-estimates-but-no-gu/#commentsFiled under: ,

Merck & Co., Inc. (NYSE: MRK) reported earnings per share of 82 cents, but excluding restructuring charges, the pharmaceutical company said it earned 86 cents per share, topping analyst estimates of 83 cents per share. Revenue came in at $6.1 billion for the quarter, a decrease of 1% from the second quarter of 2007, but in line with estimates. Yet the stock is plummeting 10% in after-hours trading, after closing at $35.33, down 6.24% during the session.

This shouldn't really be surprising, Merck is not providing 2008 equity income guidance and any long-term financial performance guidance while it is assessing the effects on the Vytorin/Zetia drugs after the failed study result. It also lowered sales guidance for Gardasil, which may not be surprising. But what is surprising is that the drugmaker also lowered sales estimates for its allergy-fighting Singulair.

If investors thought Merck has its work cut out for it, this earnings report underscored the issue even more. Already punished 35% year-to-date, Merck shares will likely continue to be soft until a clear outlook can be seen. Right now, with so many open question and even the company not willing to make educated predictions, many will likely stay away.

Merck shares plummet 10%: earnings topped estimates, but no guidance originally appeared on BloggingStocks on Mon, 21 Jul 2008 18:05:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsgardasilinthenewsmerckmrksingulairvytorinzetiaMon, 21 Jul 2008 18:05:00 EST<![CDATA[Closing Bell: Late day recovery fizzles as we enter earnings season]]>http://www.bloggingstocks.com/2008/07/07/closing-bell-late-day-recovery-fizzles-as-we-enter-earnings-sea/http://www.bloggingstocks.com/2008/07/07/closing-bell-late-day-recovery-fizzles-as-we-enter-earnings-sea/http://www.bloggingstocks.com/2008/07/07/closing-bell-late-day-recovery-fizzles-as-we-enter-earnings-sea/#commentsFiled under: , , ,

If we told you that a $3.00-plus drop in the price of oil wouldn't cause a major stock rally, it might only not be a surprise the bears who believe we are headed lower no matter what. Today was one where the markets spent much time in negative territory and then recovering towards the end of the day before making one last dive. If you think it was a quiet day, we had nearly a 300-point difference between today's high in the morning and the lows before today's recovery. These are today's unofficial closing levels:

The Walt Disney Company (NYSE: DIS) saw a severe downgrade after Lehman cut it to Underweight on its premium to peers and weakness tied to Theme Park exposure. Shares were down over 2% at $30.22 in today's final minutes.

Continue reading Closing Bell: Late day recovery fizzles as we enter earnings season

Closing Bell: Late day recovery fizzles as we enter earnings season originally appeared on BloggingStocks on Mon, 07 Jul 2008 16:26:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>carl icahnCarlIcahngardasilmortgagessteve ballmerSteveBallmerMon, 07 Jul 2008 16:26:00 EST<![CDATA[Analyst downgrades: MRK, AZN, MI, ONT and ZION]]>http://www.bloggingstocks.com/2008/07/07/analyst-downgrades-mrk-azn-mi-ont-and-zion/http://www.bloggingstocks.com/2008/07/07/analyst-downgrades-mrk-azn-mi-ont-and-zion/http://www.bloggingstocks.com/2008/07/07/analyst-downgrades-mrk-azn-mi-ont-and-zion/#commentsFiled under: , ,

MOST NOTEWORTHY: Merck, On2 Technologies and Zions Bancorp were today's noteworthy downgrades:
  • UBS downgraded Merck & Co Inc (NYSE: MRK) to Neutral from Buy citing slowing Gardasil trends and vaccine supply issues.
  • Merriman cut On2 Technologies Inc (AMEX: ONT) to Neutral from Buy to reflect the reduced visibility into financials and management changes.
  • Baird downgraded shares of Zions Bancorporation (NASDAQ: ZION) to Neutral from Outperform to reflect deteriorating credit quality and growing capital concerns. The firm lowered their target price to $32 from $43.
OTHER DOWNGRADES:

Analyst downgrades: MRK, AZN, MI, ONT and ZION originally appeared on BloggingStocks on Mon, 07 Jul 2008 11:44:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Acme PacketAcmePacketAPKTAstraZenecaAZNdowngradesGardasilinthenewsMarshall IlsleyMarshallIlsleyMerckMerck coMerckCoMIMRKOn2On2 TechOn2 TechnologiesOn2TechOn2TechnologiesONTZIONZIons BancorpZionsBancorpMon, 07 Jul 2008 11:44:00 EST<![CDATA[Merck falls on profit forecasts]]>http://www.bloggingstocks.com/2007/12/04/merck-falls-on-profit-forecasts/http://www.bloggingstocks.com/2007/12/04/merck-falls-on-profit-forecasts/http://www.bloggingstocks.com/2007/12/04/merck-falls-on-profit-forecasts/#commentsFiled under: , , ,

Shares of drug maker Merck & Co Inc. (NYSE: MRK) are trading down 3.0% in early day trading after the company stated its 2007 profit forecast, which fell short of analysts' expectations. The company also forecast an earnings increase in 2008 due to strong sales of its HPV vaccine Gardasil and diabetes treatment Januvia.

Merck announced it expects earnings between $3.08 and $3.14 a share for 2007, while analysts, on average, predicted earnings of $3.15 a share. Including items, the company predicted its earnings will fall in a range between $1.45 to $1.51 per share.

Looking ahead to 2008, the company now anticipates its profit will rise to a range of $3.28 to $3.38 a share helped by increased sales of its products. Including a $100 million restructuring charge and an AstraZeneca partnership gain, the company forecast earnings between $3.96 to $4.06 a share in 2008. But the target offered by Merck for 2008 also missed analysts' predictions for earnings of $3.39 a share.

Continue reading Merck falls on profit forecasts

Merck falls on profit forecasts originally appeared on BloggingStocks on Tue, 04 Dec 2007 11:12:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AstraZenecabad newsBadNewsearningsforecastsGardasilinthenewsJanuviaMerckMerck earningsMerckEarningsMRKRichard ClarkRichardClarkTue, 04 Dec 2007 11:12:00 EST<![CDATA[Merck wants to open HPV vaccine to older market]]>http://www.bloggingstocks.com/2007/11/05/merck-mrk-wants-to-open-hpv-vaccine-to-older-market/http://www.bloggingstocks.com/2007/11/05/merck-mrk-wants-to-open-hpv-vaccine-to-older-market/http://www.bloggingstocks.com/2007/11/05/merck-mrk-wants-to-open-hpv-vaccine-to-older-market/#commentsFiled under: , , ,

MRK logoMerck & Co. Inc. (NYSE: MRK) announced on Sunday that Gardasil, its vaccine for preventing cervical cancer, may offer protection for women up to age 45. The vaccine is approved for use in girls and women ages 9 to 26, but Merck is seeking FDA approval to expand its use to older women. Even though Merck's vaccine has been shown to decrease the chances of developing cervical cancer by up to two-thirds, the drug has found opponents who balk at vaccinating their daughters against HPV, which is generally a sexually transmitted disease. However, expanding the market to older women could take the focus off that issue as well as increase Merck's market at the same time. If you think that the company won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on MRK.

The stock has hit a one-year high of $58.36 this month after hitting a one-year low of 42.29 last November. MRK opened this morning at $55.00. So far today the stock has hit a low of $55.00 and a high of $56.85. As of 10:50, MRK is trading at $56.63, up $0.59 (1.1%). The chart for MRK looks bullish and steady, while S&P gives the stock a 4 STARS (out of 5) buy rating.

Continue reading Merck wants to open HPV vaccine to older market

Merck wants to open HPV vaccine to older market originally appeared on BloggingStocks on Mon, 05 Nov 2007 12:23:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>GardasilHPVinthenewsMerckMRKoptionsMon, 05 Nov 2007 12:23:00 EST<![CDATA[Merck & Co. Inc.: A Big Pharma comeback]]>http://www.bloggingstocks.com/2007/05/14/merck-and-co-inc-a-big-pharma-comeback/http://www.bloggingstocks.com/2007/05/14/merck-and-co-inc-a-big-pharma-comeback/http://www.bloggingstocks.com/2007/05/14/merck-and-co-inc-a-big-pharma-comeback/#commentsFiled under: ,

You can't go to a drugstore and not notice the name Merck & Co. Inc. (NYSE: MRK). Maker of many proprietary drugs, Merck was recently slammed by a stream of patent expirations, the bane of any pharmaceutical company. Why buy full price drugs when you can get the same, generic version for a fraction of the cost?

The biggest of these, in 2006, was the expiration of the patent on its successful cholesterol drug, Zocor, which fed coffers at Merck to the tune of more than $4 billion in 2005. The losses will continue into the future. In 2008, it will lose osteoporosis drug, Fosamax, and glaucoma drug Cosopt, and in 2010, the patent for anti-hypertensive drug, Cozaar.

Further, lawsuits against Merck for its arthritis drug, Vioxx, will continue to cost the company massive amounts in the upcoming years. Analysts predict that the suits will cost Merck hundreds of millions of dollars, if not billions. Merck withdrew the drug in 2004 due to concerns about increased risk of heart attacks among those who took it. It had been one of the most widely prescribed drugs in the country up until then.

Continue reading Merck & Co. Inc.: A Big Pharma comeback

Merck & Co. Inc.: A Big Pharma comeback originally appeared on BloggingStocks on Mon, 14 May 2007 14:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>GardasilHilary on StocksHilaryOnStocksMRKsgpVIOXXMon, 14 May 2007 14:30:00 EST<![CDATA[Newspaper wrap-up 2-28-07: HPV more prevalent than previously thought]]>http://www.bloggingstocks.com/2007/02/28/newspaper-wrap-up-2-28-07-hpv-more-prevalent-than-previously-th/http://www.bloggingstocks.com/2007/02/28/newspaper-wrap-up-2-28-07-hpv-more-prevalent-than-previously-th/http://www.bloggingstocks.com/2007/02/28/newspaper-wrap-up-2-28-07-hpv-more-prevalent-than-previously-th/#commentsFiled under: , , , , , ,

MAJOR PAPERS:
  • The Wall Street Journal (subscription required) reported that the Bush administration has agreed to join in regional talks with Iran and Syria over Iraq, which are being launched by the Iraqi government next month.
  • Also in the Wall Street Journal, billionaire investor Carl Icahn is pushing Blockbuster Inc's (NYSE: BBI) board to withhold some of CEO John Antioco's $7.6 million bonus.
  • In what could be good news for Merck & Co Inc's (NYSE: MRK) Gardasil vaccine, a study suggested the prevalence of HPV, which can cause cervical cancer, is greater than previous estimates had suggested, reported the Wall Street Journal.
  • According to the Financial Times (subscription required), Russia has increased the pressure on a key asset held by TNK-BP, BP p.l.c. ADS's (NYSE: BP) Russia venture, as BP CEO Lord Browne arrived in Moscow for talks of a possible transfer of part of a key asset to the state.
OTHER PAPERS:
  • The Economic Times of India reported that confectionery-maker Hershey Company (NYSE: HSY) is acquiring a 51% stake in the food and beverage business of the Godrej group for about $54 million.
  • Investor's Business Daily's "New America" column highlighted Radvision Ltd (NASDAQ: RVSN).

Newspaper wrap-up 2-28-07: HPV more prevalent than previously thought originally appeared on BloggingStocks on Wed, 28 Feb 2007 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bbiblockbusterbpbushcarl icahnCarlIcahneconomic timesEconomicTimesfinancial timesFinancialTimesftgardasilhersheyhpvhsyibdinvestor's business dailyInvestor'sBusinessDailyinvestors business dailyInvestorsBusinessDailyiraniraqmerckmrknew americaNewAmericanewspaperpaperperiodicalradvisionrussiarvsnwall street journalWallStreetJournalwsjWed, 28 Feb 2007 10:00:00 EST