Merck & Co. (NYSE: MRK) has just posted earnings that may be a relief to many who were worried about recent Vytorin woes affecting 2008 numbers. The company posted EPS of $0.80 for Q4 and consensus estimates out of First Call were $0.74. Merck is also guiding its fiscal 2008 of $3.28 to $3.38 EPS, and estimates are $3.36, yet after items it sees a revised 2008 EPS range of $3.80 to $4.00.
Merck shares closed at $48.00 yesterday, down from recent 52-week highs north of $60 earlier in January before the Vytorin woes came out. Its shares are indicated up 1% pre-market.
As estimates had been coming down in recent days, this guidance for 2008 may be a relief to many that worried the latest issues would sharply bring down earnings projections.
Jon C. Ogg January 30, 2008
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