US Stock Market Movement | Merck falls more than 10% after lowering adjusted earnings per share expectations
On Tuesday, Merck opened lower and fell more than 10% as of the time of publication, trading at $114.9. The company lowered its adjusted earnings per share expectations. Merck's Q2 revenue was $16.11 billion, a 7% year-on-year increase, with market expectations at $15.84 billion. The company revised its adjusted earnings per share expectations from the previous $8.53 to $8.65 down to $7.94 to $8.04. This adjustment reflects one-time costs related to the acquisitions of Harpoon Therapeutics and EyeBio, at $0.26 and $0.51 per share, respectively
According to the Zhitong Finance and Economics APP, on Tuesday, Merck (MRK.US) opened low and continued to decline, with the stock falling more than 10% to $114.9 as of the time of publication. The company has lowered its adjusted earnings per share expectations.
Merck's Q2 revenue was $16.11 billion, a 7% year-on-year increase, exceeding market expectations of $15.84 billion. The company has revised its adjusted earnings per share guidance from the previous range of $8.53 to $8.65 down to $7.94 to $8.04. Merck stated that this adjustment reflects one-time expenses related to the acquisitions of Harpoon Therapeutics and EyeBio, which are $0.26 and $0.51 per share, respectively