Entries tagged "Merck "
Despite the return of M&A Monday, the markets failed to rally -- not even merger adviser Morgan Stanley's stock benefited from the news.
The pharmaceutical industry is notorious for creating copycat drugs. Now Pfizer's $68 billion bid for Wyeth could prompt Merck, Sanofi-Aventis and other peers to launch 'me-too' mergers.
Deal news from PharmaNet and Amylin gave pharmaceutical stocks a boost on Tuesday.
While the credit markets are displaying signs of thawing over the past week as interbank lending rates have dropped, disappointing bottom-line performance for a handful of bellwether blue-chip stocks gave investors cold feet over the past two days. Following a 200-plus point drop Tuesday, the Dow Jones Industrial Average sunk 514.25 points Wednesday to close at 8,519.25, due in part to double-digit earnings declines reported by both drug giant Merck & Co. and the world's largest aircraft manufacturer Boeing Co., whose stocks fell 6.54% to $28.01 and 7.52% to $42.91, respectively. ...
