Following the market opening Monday, the Dow traded down 0.09
percent to 15,555.79 while the NASDAQ declined 0.04 percent to
3,941.74. The S&P rose, gaining 0.04 percent to 1,760.49.
Top Headline Merck & Co (NYSE:
) reported an
Merck's quarterly profit declined to $1.12 billion, or $0.38
per share, down from $1.73 billion, or $0.56 per share, in the
year-earlier quarter. Its adjusted earnings fell to $0.92 per
share from $0.95 per share.
Its sales dropped to $11.03 billion from $11.49 billion.
However, analysts were estimating earnings of $0.87 per share on
revenue of $11.1 billion. Merck now expects 2013 adjusted
earnings of $3.48 to $3.52 per share, versus its earlier forecast
of $3.45 to $3.55 per share.
Equities Trading UP Bristol-Myers Squibb Company (NYSE:
) shot up 4.65 percent to $51.04 after the company presented
efficacy and safety data
from Phase IIb dose-ranging study of subcutaneous clazakizumab.
Morgan Stanley upgraded the stock from Equal-Weight to Overweight
and lifted the target price from $45 to $60.
Shares of Burger King Worldwide (NYSE:
) got a boost, shooting up 5.49 percent to $20.84 after the
reported a rise
in its third-quarter profit.
Clovis Oncology (NASDAQ:
) was also up, gaining 10.21 percent to $62.74 after the
demonstrated promising clinical activity and safety in Phase I
Equities Trading DOWN Shares of Sohu.com (NASDAQ:
) were down 12.37 percent to $71.35 after the company reported a
20 percent drop
in its quarterly profit.
) shares tumbled 16.86 percent to $29.69 after the company
reported Q3 unaudited financial results. Edwards Lifesciences
) was down, falling 4.76 percent to $73.39 on Q3 results.
Commodities In commodity news, to $97.54, while gold traded up
0.04 percent to $1,353.10. Silver traded down 0.24 percent Monday
to $22.59, while copper fell 0.08 percent to $3.27.
Euro zone European shares today. The Spanish Ibex Index fell
1.03 percent, while Italy's FTSE MIB Index tumbled 0.66 percent.
Meanwhile, the German DAX dropped 0.19 percent and the French CAC
40 fell 0.75 percent while U.K. shares declined 0.16 percent.
Economics US industrial production increased 0.6 percent in
September, versus economists' expectations for a 0.4 percent
growth. Capacity utilization climbed to 78.3 percent versus 77.9
The pending home sales index declined 5.60 percent in
September. The Treasury is set to auction 3-month bills, 6-month
bills and 2-year notes.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Free Trading Education -
Check out the free events taking place on Marketfy
this week. Spaces are limited. Sign up today.