Thursday morning, Merck & Co. (MRK) announced that it would shut down eight manufacturing plants and eight research sites around the world, along with consolidating some of its offices.

Merck notes that these moves are part of the ongoing consolidation triggered by the acquisition of Schering-Plough last November. The acquisition made Merck the second-biggest pharmaceutical firm in the world. That said, the company is going to eliminate roughly 15% of its workforce (which comes out to 16,000 jobs) in order to save roughly $3.5 billion a year.

Continue reading Merck to Close Eight Plants

Merck to Close Eight Plants originally appeared on BloggingStocks on Thu, 08 Jul 2010 10:50:00 EST. Please see our terms for use of feeds.

Continue reading JPMorgan Leads in Year Bankers Make Money on Each Other

JPMorgan Leads in Year Bankers Make Money on Each Other originally appeared on BloggingStocks on Thu, 04 Mar 2010 11:40:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: The Win from Left Field (BRK-B, KFT, MRK, SPG, RIGL)

Closing Bell: The Win from Left Field (BRK-B, KFT, MRK, SPG, RIGL) originally appeared on BloggingStocks on Tue, 16 Feb 2010 16:00:00 EST. Please see our terms for use of feeds.

Merck & Co. (MRK) reported Tuesday that it earned $6.49 billion, or $0.79 per share on an adjusted basis, in the fourth quarter, compared with $1.64 billion, or $0.78 per share a year ago. Earnings were in line with consensus estimates.

Sales for the quarter rose 40.2% from a year ago to $10.09 billion, due in large part to the acquisition of rival Schering-Plough Corp. for $41 billion in early November.

Continue reading Merck Rises on Strong Q4 Revenue, Reaffirmed Outlook

Merck Rises on Strong Q4 Revenue, Reaffirmed Outlook originally appeared on BloggingStocks on Tue, 16 Feb 2010 14:00:00 EST. Please see our terms for use of feeds.

Global pharmaceutical giant Merck & Co. Inc. (MRK), whose brands include Claritin, Coppertone, Lotrimin, Propecia, Singulair and Vytorin, is scheduled to discuss its fourth-quarter and full-year financial results in a conference call Monday, Feb. 16, at 8:00 AM (ET), hosted by CEO Richard T. Clark and CFO Peter N. Kellogg. A live webcast of the call will be available at the company's website.

During the three months that ended in December, Merck merged with Schering-Plough, appointed a chief medical officer and announced a quarterly dividend. Analysts surveyed by Thomson Reuters are looking for earnings for that period of $0.78 per share, down from $0.90 per share in the previous quarter and $0.87 per share a year ago. But revenue for the fourth quarter is expected to have jumped 60.8% from a year ago to $9.7 billion.

Continue reading Merck Earnings Preview: Lower Profit, Higher Sales Expected

Merck Earnings Preview: Lower Profit, Higher Sales Expected originally appeared on BloggingStocks on Mon, 15 Feb 2010 17:00:00 EST. Please see our terms for use of feeds.

A lot of earnings reports were issued last week. The market was busy sorting them all out. I'm going to take a fast look at several of the issuing companies.

American Express (NYSE: AXP): Don't leave home without it. Good advice for the card, perhaps, but what about the company? Should your portfolio leave home and forget this stock? I'd say so. It's not that American Express lost the earnings game. On the contrary, Bloomberg reported a beat. American Express earned 44 cents per share from continuing operations, adjusted. This was six pennies ahead of forecasts. Okay, I applaud such performance. And shares are way off the single-digit 52-week low. Thing is, I'm in love with another card business. Visa (NYSE: V). As I've stated before, I enjoy the beauty of Visa's lower-risk model. It doesn't have to put up with loan risk. Yes, the situation at American Express might be improving, but I'm not going to buy this one.

Continue reading Quick opinions on some quarterly earnings: AXP, MRK, MCD, NYT, UP ...

Quick opinions on some quarterly earnings: AXP, MRK, MCD, NYT, UP ... originally appeared on BloggingStocks on Sun, 25 Oct 2009 10:20:00 EST. Please see our terms for use of feeds.

Merck (NYSE: MRK) closed at $32.68. The Schering-Plough (NYSE: SGP) and Merck merger is expected to close before year end. SGP shareholders will receive 0.5767 shares and $10.50 in cash for each share of SGP. MRK October and January option implied volatility of 31 is below its 26-week average of 37, according to Track Data, suggesting decreasing price movement.

Pfizer (NYSE: PFE) closed at $16.77.Pfizer is expected to close on the acquisition of Wyeth (NYSE: WYE) for $33 in cash and 0.985 of a share of Pfizer by the end of 2009. PFE October option implied volatility is at 26, December is at 31; below its 26-week average of 36, according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Options Update: Merck and Pfizer volatility low into pending acquisitions originally appeared on BloggingStocks on Thu, 27 Aug 2009 08:00:00 EST. Please see our terms for use of feeds.

Pharmaceutical company Merck (NYSE: MRK), whose colleagues include Pfizer (NYSE: PFE) and Johnson & Johnson (NYSE: JNJ), issued its Q2 numbers earlier in the week. Quite frankly, I found them to be boring. Of course, maybe boring isn't too bad these days, right? It's a lot better than an exciting ride on a profit-decline express.

Well, actually, Merck did see a decline in its bottom-line profit, but it wasn't an outrageously awful drop or anything like that. Merck made an adjusted 83 cents per share compared to an adjusted 86 cents per share in the comparable period. Three less pennies isn't the worst thing in the world on a relative basis. Plus, revenues increased 3% if you exclude currency effects (including them gives a decrease of 3%).

Continue reading Not much going on with Merck's Q2

Not much going on with Merck's Q2 originally appeared on BloggingStocks on Thu, 23 Jul 2009 10:40:00 EST. Please see our terms for use of feeds.

Continue reading EMEA accepts Schering-Plough's schizophrenia drug Sycrest for review

EMEA accepts Schering-Plough's schizophrenia drug Sycrest for review originally appeared on BloggingStocks on Tue, 02 Jun 2009 10:20:00 EST. Please see our terms for use of feeds.

Wyeth (NYSE: WYE) closed at $43.11. Pfizer (NYSE: PFE) announced on January 26 the acquisition of WYE for $33 in cash and 0.985 of a share of PFE. PFE closed at $14.04. WYE April and May option implied volatility of 23 is near its 13-week average of 23, according to Track Data, suggesting non-directional price movement.

Schering-Plough (NYSE: SGP) and Merck (NYSE: MRK) approved a definite merger agreement on March 9. SGP shareholders will receive 0.5767 shares and $10.50 in cash for each share of SGP. SGP closed at $24.19. MRK closed at $27.16. SGP April and May option implied volatility of 37 is near its 2-week average according to Track Data, suggesting non-directorial price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Options Update: Wyeth and Schering-Plough volatility flat; on buyout spreads of 8% originally appeared on BloggingStocks on Mon, 30 Mar 2009 09:00:00 EST. Please see our terms for use of feeds.

More and more, there are signs that the capital markets are finding equilibrium. For example, Pfizer Inc. (NYSE: PFE) was able to raise $13.5 billion in debt financing this week. The structure was a five-part issue of notes.

Of course, Pfizer needs the cash to pull off its $64.2 billion acquisition of Wyeth (NYSE: WYE).

Continue reading Pfizer raises a healthy $13.5 billion

Pfizer raises a healthy $13.5 billion originally appeared on BloggingStocks on Tue, 17 Mar 2009 17:30:00 EST. Please see our terms for use of feeds.

Merck (NYSE: MRK) and Schering-Plough (NYSE: SGP) approved a definite merger agreement; SGP shareholders will receive 0.5767 shares and $10.50 in cash for each share of SGP. MRK is recently trading at $21.90 in pre-open trading, below its close at $22.74. MRK April option implied volatility of 55 is above its 26-week average of 50, according to Track Data, suggesting larger price movement.

SGP is recently trading at $20.70 in pre-open trading, above its close of $17.63. SGP March option implied volatility is at 88; April is at 69; above its 26-week average of 55, according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Options Update: Merck and Schering-Plough volatility elevated into deal originally appeared on BloggingStocks on Mon, 09 Mar 2009 08:00:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Anadarko Petroleum Corp. (NYSE: APC) reported that its Q4 profit tripled but it fell short of estimates.
• Biogen Idec Inc. (NASDAQ: BIIB) met earnings estimates but it is getting more pressure from Carl Icahn.
• BP (NYSE: BP) surprised Wall Street with a multibillion dollar Q4 loss due to lower oil prices.
• Cisco Systems Inc. (NASDAQ: CSCO) beat Q2 estimates but warned that incoming orders have declined.
• Dick's Sporting Goods Inc. (NYSE: DKS) reaffirmed its previous Q4 guidance, which pleased investors.
• Estee Lauder Companies Inc. (NYSE: EL) topped Q2 earings estimates and it announced job cuts.
• Humana Inc. (NYSE: HUM) Q4 earnings fell on higher claim expenses and lower investment income.
• JDS Uniphase Corp. (NASDAQ: JDSU) adjusted earnings were in line with estimates but revenue fell.

Continue reading Earnings highlights: Time Warner, BP, Cisco, Motorola, Visa and others

Earnings highlights: Time Warner, BP, Cisco, Motorola, Visa and others originally appeared on BloggingStocks on Sat, 07 Feb 2009 09:40:00 EST. Please see our terms for use of feeds.

If you've been watching earnings this past week, or if you read last week's Week in Preview, then this coming week may leave you feeling a bit like Bill Murray in Groundhog's Day. That is, again analysts surveyed by Thomson Reuters expect earnings declines to be more frequent and deeper than earnings gains.

Motorola Inc. (NYSE: MOT), Dow Chemical Co. (NYSE: DOW), Anadarko Petroleum Corp. (NYSE: APC), IAC Interactivecorp (NASDAQ: IACI), Moody's Corp. (NYSE: MCO), Elizabeth Arden Inc. (NASDAQ: RDEN), Devon Energy Corp. (NYSE: DVN), Diebold Inc. (NYSE: DBD), Tyco International Ltd. (NYSE: TYC), United Parcel Service (NYSE: UPS), Cisco Systems Inc. (NASDAQ: CSCO), Polo Ralph Lauren Corp. (NYSE: RL), ITT Corp. (NYSE: ITT), and Walt Disney Co. (NYSE: DIS) are scheduled to report quarterly results this week, and they're all expected to report double-digit declines in earnings.

But again this week, let's take a look who Wall Street feels may have done well in the past quarter.

Continue reading The week in preview: High hopes for MasterCard, Avon, Aflac, Northrop Grumman

The week in preview: High hopes for MasterCard, Avon, Aflac, Northrop Grumman originally appeared on BloggingStocks on Sun, 01 Feb 2009 12:30:00 EST. Please see our terms for use of feeds.

Drugmaker Schering-Plough Corp. (NYSE: SGP) reported this morning a drop of 48% in its fiscal first-quarter profit, hurt by higher costs tied to a buyout in the prior quarter. However, the company was able to post adjusted earnings well above analysts' predictions, pushing its shares up in morning trading.

Schering-Plough's profit during the first-quarter plunged to $291 million, or 15 cents a share, dragged down by charges related to its acquisition of Organon Biosciences NV. Excluding items, Schering-Plough's earnings figures would have come at 53 cents per share. Analysts' forecasts (which typically exclude one time items) were for 37 cents per share in the quarter.

The company's quarterly revenue jumped by a respectable 57% to $4.66 billion. For the period, the company benefited from strong gains from Organon, which came with sales of $1.3 billion. Anti-inflammatory Remicade sales also saw a growth of 36%, while allergy treatment Nasonex revenue saw a rise of 8%. Higher drug prices offset lower prescriptions in the U.S. Analysts, on average, expected Schering-Plough's revenue to be $4.52 billion, according to Thomson Reuters.

Continue reading Schering-Plough (SGP) sees quarterly profit falling 48% on merger costs

Schering-Plough (SGP) sees quarterly profit falling 48% on merger costs originally appeared on BloggingStocks on Wed, 23 Apr 2008 11:23:00 EST. Please see our terms for use of feeds.

• DJIA 12,262.89 (+46.49, +0.38%)
• NASDAQ 2,279.10 (+17.92, +0.79%)
• S&P500 1,322.69 (+7.47, +0.57%)
• 10YR-TBond 3.432% (-0.034%)
• Full 52-Week Lows

Continue reading Closing Bell: DJIA's first "almost" positive month this year (C, GU, MRK, SGP, MON, NCST)

Closing Bell: DJIA's first "almost" positive month this year (C, GU, MRK, SGP, MON, NCST) originally appeared on BloggingStocks on Mon, 31 Mar 2008 17:19:00 EST. Please see our terms for use of feeds.

Schering-Plough, Merck get clobbered originally appeared on BloggingStocks on Mon, 31 Mar 2008 13:11:00 EST. Please see our terms for use of feeds.

Continue reading Cramer on BloggingStocks: This market is rough

Cramer on BloggingStocks: This market is rough originally appeared on BloggingStocks on Mon, 31 Mar 2008 09:20:00 EST. Please see our terms for use of feeds.

Schering-Plough (NYSE: SGP) is recently at $15.80 in pre-open trading, below its close of $19.47.

A panel of cardiologists called on physicians to sharply curtail their use of cholesterol-lowering drugs Vytorin (combination of Merck's (NYSE: MRK) Zocor an SGP's Zetia) and Zetia after a clinical study showed the drugs didn't work better than less expensive statin drugs.

SGP April option implied volatility of 58 is above is 26-week average of 36 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: Schering-Plough volatility elevated into clinical study originally appeared on BloggingStocks on Mon, 31 Mar 2008 08:59:00 EST. Please see our terms for use of feeds.

Here are some highlights of this past week's earnings coverage from BloggingStocks:

• Applied Materials Inc. (NASDAQ: AMAT) first-quarter profits fell due to market conditions.
• Best Buy Inc. (NYSE: BBY) lowered its earnings forecast on declining sales.
• Campbell Soup Co. (NYSE: CPB) posted unexciting second-quarter results, but shares rose anyway.
• Chipotle Mexican Grill Inc. (NYSE: CMG) posted solid results but fell short of expecations.
• Comcast Corp. (NASDAQ: CMCSA) beat expectations and annouced it first dividend in a decade.
• Denny's Corp. (NASDAQ: DENN) fourth-quarter results were dragged down by the sale of restaurants.
• General Motors Corp. (NYSE: GM) posted a record loss and made a buyout offer to union employees.
• Hasbro Inc. (NYSE: HAS) post better-than-expected fourth-quarter results on popularity of the Transformers.
• Jones Apparel Group Inc. (NYSE: JNY) narrowed its loss in the fourth quarter as restructuring continued.
• Lions Gate Entertainment Corp. (NYSE: LGF) missed earnings estimates despite strong revenue growth.
• Marriott International Inc. (NYSE: MAR) profit fell on losses from discontinued operations.
• Molson Coors Brewing Co. (NYSE: TAP) beat estimates as profits rose 75%.
• PolyOne Corp. (NYSE: POL) beat expectations and raised its guidance.
• Schering-Plough Corp. (NYSE: SGP) beat expectations, excluding a charge for acquistion costs.
• UBS (NYSE: UBS) posted a big loss on write-downs due to the subprime crisis.
• VNUS Medical Technologies Inc. (NASDAQ: VNUS) beat expectations on strength overseas.
• World Wrestling Entertainment (NYSE: WWE) beat expectations despite weakness in its movie business.

Also, Jim Cramer defends his interest in GM after its record loss.

Upcoming results to watch for include Wal-Mart (NYSE: WMT), Hewlett-Packard (NYSE: HPQ), OfficeMax (NYSE: OMX), Whole Foods (NASDAQ: WFMI), MGM Mirage (NYSE: MGM), JCPenney (NYSE: JCP), and Safeway (NYSE: SWY).

Visit AOL Money & Finance for more earnings coverage.

Earnings highlights: GM, Comcast, UBS, Best Buy, Hasbro, Marriott, and others originally appeared on BloggingStocks on Sat, 16 Feb 2008 09:40:00 EST. Please see our terms for use of feeds.