Pharmaceutical giant Merck & Co., Inc. (MRK) on Tuesday provided a first quarter earnings forecast that would miss analyst expectations.
The Whitehouse Station, NJ-based company said its expects first quarter earnings to range from 95 to 98 cents per share, excluding special items. On average, Wall Street analysts projected $1.01 per share for the period.
Merck also backed its previously-announced full-year 2012 forecast, which calls for earnings of $3.75 to $3.85 per share, excluding items.
Merck shares fell 58 cents, or -1.5%, in premarket trading Tuesday.
The Bottom Line
Shares of Merck (MRK) have a 4.37% dividend yield, based on last night’s closing stock price of $38.45. The stock has technical support in the $35-$36 price area. If the shares can firm up, we see overhead resistance around the $39-$40 price levels.
Merck & Co., Inc. (MRK) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here