The beginning of a new bull-run, or just a temporary (year-end bounce) high water mark? Who knows?
CEO Frazier says he expects 2012 will be better than 2011, but that doesn't imply a price above $40, in my estimation. So. . .
Will 2012 see an eclipse of the highest NYSE prices, set immediately post the Schering-Plough bust-up transaction? We shall see. 
Friday, January 6, 2012
Two Years Later, Merck's NYSE Share Price Approaches Immediate Post-Merger Euphoria
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Better than 2011? It was not that long ago when the CFO laid out all of the 'headwinds' the company will face throughout 2012. Did the ball dropping in Times Square erase the lag from the events of 2011 so that 2012's challenges can be dealt with head-on?
From the inside the company is rotting with low morale, a nearly abused workforce and the shift of many internal operations to low cost outsource providers - some areas have as much as 90+% contractor resources now. Much of the staff tasked with making such shifts provided shortcut or no knowledge transfer. A decline of internal operations' effectiveness would add more headwinds I'm not sure management has a plan to deal with.
As a reminder - the link to the headwinds post: http://shearlingsplowed.blogspot.com/2011/12/cfos-summation-of-what-2012-will-look.html
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