Written on Fri, 07/30/2010 - 9:34am
By Chip Brian
7/30/2010-Merck (NYSE:MRK) reported Q2 EPS of $0.86, ex-items, topping consensus estimates of $0.83.
Revenues in the quarter surged to $11.35 billion, but came in below consensus estimates of $11.47 billion.
Merck has said that it plans to slash its workforce by 15% as part of its restructuring plan after merging with Schering-Plough last year.
Merck said it sees 2010 EPS of $3.29-$3.39 on revenues of $45.4 billion-$46.1 billion. Meanwhile analysts, on average, were projecting EPS of $3.37.
Merck & Co., Inc. is a global pharmaceutical company that discovers, develops, manufactures, and markets a broad range of human and animal health products. Merck's products include a treatment for elevated cholesterol, a treatment for male pattern hair loss, a preventive treatment for osteoporosis, a treatment for hypertension, and a treatment for allergic rhinitis.
SmarTrend currently has Merck in an Uptrend. Since 2008, SmarTrend subscribers trading Merck using our alerts outperformed the stock by 67%. We are monitoring these developments and will alert subscribers to any change in trend.
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