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
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.