Drug maker Merck & Co. Inc. (NYSE: MRK) this morning lowered its first quarter non-GAAP EPS estimate to $0.95-$0.98, well below the previous consensus estimate of $1.03. For the full-year, Merck expects non-GAAP EPS of $3.75-$3.85, compared with a consensus estimate of $3.81.
The company also said that 2012 revenues “to be at or near 2011 levels on a constant currency basis. At current exchange rates, sales would be unfavorably affected by about 2 to 3 percent.” Merck’s calculations are based on an exchange rate of $1.31/euro.
The euro/dollar exchange rate is also expected to have a negative impact of -1% to -2% on first quarter earnings. Full-year sales are expected to get whacked by -2% to -3% as a result of the euro/dollar exchange rate.
Merck’s shares are down more than -1% in the pre-market, at $38.02 in a 52-week range of $29.47-$39.43.
Smart Investors Are Quietly Loading Up on These “Dividend Legends”
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
