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Stock Market & Financial Investment News

News Breaks
August 5, 2014
11:58 EDTMRKMerck advised by B.C. of delisting of sitagliptin products Januvia and Janumet
On July 30, Merck was advised by the British Columbia Medical Beneficiary and Pharmaceutical Services Division of the delisting of all sitagliptin products from the British Columbia Pharmacare Benefits Program. Effective August 5, the British Columbia Medical Beneficiaries and Pharmaceutical Services Division is adjusting its coverage of DPP-4 inhibitor drugs; as such, coverage of sitagliptin products will end for all patients on February 5, 2015. Based on Merck’s information, the customary consultation from relevant stakeholders, including health care professionals and patients, has not taken place. Merck strongly disagrees with this approach. Merck wishes to emphasize that the British Columbia Medical Beneficiaries and Pharmaceutical Services Division decision was in no way related to the established safety, tolerability and efficacy of Januvia and Janumet, as detailed in their product monographs.
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April 28, 2015
12:30 EDTMRKOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after crossing back and forth across the flat line during morning trading, much like Apple (AAPL) shares, which were searching for direction despite the company's report last night having topped expectations on several measures, including revenue, profits, iPhone unit sales and capital return plans. ECONOMIC EVENTS: In the U.S., the Case Shiller 20-city home price index rebounded 0.93% on a seasonally adjusted basis in February, versus expectations for it to be up 0.7% on a month-over-month basis. The Conference Board's consumer confidence index dropped 6.2 points to 95.2 in April, versus expectations for it to have risen to 102.2. The Richmond Fed manufacturing index rose to -3 in April, versus expectations for a reading of -2. COMPANY NEWS: Shares of Apple were little changed near noon after the company last night reported March quarter earnings and sales well above expectations and boosted its shares buyback program to $140B from $90B and quarterly dividend by 11% to 52c. FBR Capital called the quarter “Picasso-like,” while Brian White at Cantor Fitzgerald upped his price target on shares to $195. Less sanguine are analysts at Pacific Crest, Maxim and Deutsche Bank. Noted investor Carl Icahn said afterward that Apple is "still undervalued and misunderstood" and promised to put out another in-depth report on the company within two weeks... IBM (IBM) approved an 18% increase in its quarterly dividend to $1.30 per common share. MAJOR MOVERS: Among the notable gainers was Dow member Merck (MRK), which advanced 5% after its Q1 sales and EPS beat expectations. Two other big name, big revenue drugmakers slid after their earnings reports, as Bristol-Myers (BMY) declined 1% and Pfizer (PFE) fell 0.5%. Also lower following its earnings report was The Container Store (TCS), which declined about 16% after its results and outlook missed expectations. INDEXES: Near midday, the Dow was up 49.61, or 0.28%, to 18,087.58, the Nasdaq was up 9.87, or 0.2%, to 5,070.12, and the S&P 500 was up 3.98, or 0.19%, to 2,112.90.
10:00 EDTMRKMerck trades sharply higher after results, levels to watch
The stock is trading up over 5% to $60.17 following results. At that price the only resistance level of significance is at the 52-week high at $63.62. Support is at $59.73, the session low.
09:36 EDTMRKActive equity options trading on open
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08:46 EDTMRKOn The Fly: Pre-market Movers
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08:27 EDTMRKMerck HCV results appear inferior, says Bernstein
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07:59 EDTMRKMerck HCV data supports NDA filing, says SunTrust
SunTrust believes that Merck's C-EDGE & C-SURFER efficacy data at EASL indicates that the company's HCV treatment is competitive with Gilead's (GILD) single pill dose and superior to AbbVie's (ABBV) Viekira Pak. The firm says the data supports Merck's imminent NDA filing with breakthrough designation, potentially enabling a 2H15 launch. It keeps a $72 price target and Buy rating on the shares.
07:03 EDTMRKMerck sees FY15 EPS $3.35-$3.48, consensus $3.37
Sees FY15 revenue $38.3B-$39.8B, consensus $39.2B.
07:02 EDTMRKMerck reports Q1 EPS 85c, consensus 74c
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April 27, 2015
18:56 EDTMRKOn The Fly: After Hours Movers
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18:32 EDTMRKMerck announces publication of pivotal data from Zerbaxa Phase 3 clinical study
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17:13 EDTMRKMerck announces Januvia study achieved primary endpoint
Merck announced that the trial evaluating cardiovascular outcomes with Sitagliptin, or TECOS, of Merck's DPP-4 inhibitor, Januvia, or sitagliptin, achieved its primary endpoint of non-inferiority for the composite cardiovascular endpoint. Among secondary endpoints, there was no increase in hospitalization for heart failure in the sitagliptin group versus placebo. The complete results of TECOS will be presented on June 8 at the Scientific Sessions of the American Diabetes Association. TECOS was an event-driven trial conducted in adults with type 2 diabetes and a history of cardiovascular disease. The study was designed to assess the CV safety of long-term treatment with Januvia as part of usual diabetes care compared with usual care without Januvia. The primary endpoint was the composite of time to the first of any of the following confirmed events: cardiovascular-related death, nonfatal myocardial infarction, nonfatal stroke, or unstable angina requiring hospitalization. TECOS enrolled 14,724 participants from 38 countries between December 2008 and July 2012. The median patient follow-up was approximately three years.
15:04 EDTMRKNotable companies reporting before tomorrow's open
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13:43 EDTMRKEarnings Watch: Merck shares lower by about 5.6% since last earnings report
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09:37 EDTMRKBarclays healthcare analysts hold an analyst/industry conference call
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06:19 EDTMRKPharmceutical companies buy drugs and raises prices, WSJ reports
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April 24, 2015
07:58 EDTMRKMerck May weekly volatility elevated into Q1 and outlook
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05:35 EDTMRKMerck Phase 3 C-EDGE program shows high sustained virologic responses
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April 23, 2015
16:39 EDTMRKACETO subsidiary to launch Timolol Maleate Ophthalmic Solution
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05:40 EDTMRKMerck announces results from C-SURFER Phase 2/3 study
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April 22, 2015
08:18 EDTMRKOrganovo enters into a collaboration agreement with Merck Sharp and Dohme
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