Despite coming from a generally-dogdy source provider (on almost all other fields of endeavor), I think the gist of it (simply repeating various equity analysts' reports, actually), rings pretty true:
. . . .Merck -- reports Oct. 29
Wall Street Expectations: The company is seen reporting earnings of 82 cents and $11.24 billion in revenue. A year earlier, the company earned $1.61 a share, or 90 cents minus items like a gain from the sale of its stake in an animal-health joint venture, as revenue was $6.05 billion.
Key Issues: Merck's results will once again be boosted by last fall's acquisition of Schering-Plough. Sales of its key drugs, which had been a strong point in recent quarters, tailed off slightly in the spring, so investors will be looking at whether they rebounded during the summer. The company has also seen pricing pressure in Europe, where national health programs have been cutting prices to help close budget gaps. . . .
What's sub rosa, in the Fox-blurb above. . . is also hidden -- in plain view -- in the reflections of that blue crystal, imaged above right -- click to enlarge it, and do look closely.
In addition, currencies will be of no help here, as the dollar has continued to strengthen. Srong dollar: on balance, bad for multinationals with significant non-US sales. That is, on balance, the strong dollar dampens sales revenue (required to be accounted for in the parent's home currency, and thus) reported by New Merck as dollar figures. We'll see just how adroitly the finance folk at Whitehouse Station have been about their business during Q3, busily hedging these exposures -- in a little over two weeks' time.
I'll live-blog it all.
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