Merck Visits The Proctologist (MRK)

Health and Healthcare

Published: July 21, 2008 4:20 pm

Last Updated: April 28, 2020 1:34 am

Merck_logo_2 Merck & Co. (NYSE: MRK) posted earnings that look pretty good on the surface. The problem is that the surface is about the only thing that looked appealing for the drug giant today. Merck posted $0.86 EPS on a constant basis on $6.1 Billion in worldwide sales. First Call estimates were $0.83 EPS on $6.05 Billion in revenues.

To make matters worse, the company has opted not to give 2008 and long-term guidance on earnings and revenues to assess the effects of today’s Vytorin study data.

Vytorin sales were already down 14%, and now with today’s very cautious data it’s just hard to think much here that is positive. Its Gardasil cervical cancervaccine sales were down and it offered 2008 guidance of $1.4 to $1.6 Billionin global Gardasil sales. Fosamax sales were also down and it gaveguidance for 2008 at $1.4 to $1.7 Billion for that franchise. Merckalso noted that its pre-tax expenses for restructuring will run $220 to$300 million for 2008. As far as the rest, it just doesn’t reallymatter for now. The damage has been done.

Shares had closed down over 6% at $35.33 today in regular trading andshares are down another 8% at $32.50 in after-hours trading. Its52-week trading range was $34.49 to $61.62.

For some reason this feels like being the proctologist for the traveling circus, and you keep getting the Siamese twins revisiting every day.

Jon C. Ogg
July 21, 2008

Travel Cards Are Getting Too Good To Ignore (sponsored)

Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.

We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.

It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.

We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.