Merck (MRK) tops earnings, revenue expectations but guidance mixed
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Concern over Merck's Gardasil sales in China sink shares
July 30, 2024 6:32 AM EDTBy Michael Erman and Leroy Leo
(Reuters) -Merck & Co said on Tuesday that shipments of its Gardasil vaccine in the important China market declined in the second quarter, sparking investor concerns, and its shares plunged more than 9%.
Gardasil, which prevents cancer caused by the human papillomavirus, has been one of Merck's top growth drivers aside from cancer immunotherapy Keytruda - the world's top-selling prescription medicine - with much of its increase coming from demand from China.
Sales of the drug have more than doubled since 2020 and are expected to close in on $10 billion this year.
... MoreMerck (MRK) Tops Q2 EPS by 12c, Beats on Revenue; Offers FY24 EPS Guidance
July 30, 2024 6:32 AM EDTMerck (NYSE: MRK) reported Q2 EPS of $2.28, $0.12 better than the analyst estimate of $2.16. Revenue for the quarter came in at $16.11 billion versus the consensus estimate of $15.85 billion.
GUIDANCE:
Merck sees FY2024 EPS of $7.94-$8.04, versus the consensus of $8.16. Merck sees... More
Fed meeting, Microsoft earns, BP dividend - what's moving markets
July 30, 2024 5:31 AM EDTInvesting.com -- The Federal Reserve starts its latest policy-setting meeting, while investors look forward to more corporate earnings, particularly from the important tech sector. BP has already impressed with its second-quarter numbers.Â
1. Fed starts policy-setting meetingÂ
The Federal Reserve starts its July policy meeting later in the session, and after a benign June inflation report, investors after looking for the policymakers to lay the groundwork for a September rate cut.
... MoreMerck (MRK) puts more active than calls with focus on with focus on August 120 puts into quarter results
July 29, 2024 11:25 AM EDTMerck (NYSE: MRK) August weekly call option implied volatility is at 55, August is at 31; compared to its 52-week range of i15 to 26 nto expected release of quarter results before the bell on July 30.
... MoreMerck (MRK) August 2 weekly 125 straddle priced into quarter results
July 29, 2024 5:32 AM EDTMerck (NYSE: MRK) August 2 weekly 125 straddle priced for a move of 4.5% into expected release of quarter results before the bell on July 30.
... MoreMerck (MRK) Receives Positive EU CHMP Opinion for KEYTRUDA Plus Padcev as First-Line Treatment for Patients With Unresectable or Metastatic Urothelial Carcinoma
July 26, 2024 6:50 AM EDTMerck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced that the European Medicines Agencys Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion recommending approval of KEYTRUDA, Mercks anti-PD-1 therapy, in combination with Padcev (enfortumab... More
