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Tag: Merck & Co Inc

  • Merck & Co., Inc. $MRK Shares Acquired by First Pacific Financial

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    First Pacific Financial raised its holdings in shares of Merck & Co., Inc. (NYSE:MRK – Free Report) by 14.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 47,555 shares of the company’s stock after purchasing an additional 6,082 shares during the quarter. First Pacific Financial’s holdings in Merck & Co., Inc. were worth $3,991,000 at the end of the most recent reporting period.

    A number of other institutional investors and hedge funds also recently modified their holdings of MRK. Legend Financial Advisors Inc. purchased a new stake in shares of Merck & Co., Inc. during the second quarter valued at $25,000. Darwin Wealth Management LLC raised its holdings in Merck & Co., Inc. by 237.4% during the 3rd quarter. Darwin Wealth Management LLC now owns 307 shares of the company’s stock worth $26,000 after buying an additional 216 shares during the period. Kilter Group LLC acquired a new stake in Merck & Co., Inc. during the 2nd quarter worth about $27,000. Bare Financial Services Inc lifted its stake in Merck & Co., Inc. by 51.9% during the second quarter. Bare Financial Services Inc now owns 366 shares of the company’s stock valued at $29,000 after buying an additional 125 shares in the last quarter. Finally, Evolution Wealth Management Inc. purchased a new stake in Merck & Co., Inc. during the second quarter valued at about $31,000. Institutional investors and hedge funds own 76.07% of the company’s stock.

    Insider Buying and Selling at Merck & Co., Inc.

    In other news, EVP David Michael Williams sold 8,614 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $83.59, for a total transaction of $720,044.26. Following the completion of the sale, the executive vice president owned 24,578 shares in the company, valued at approximately $2,054,475.02. This represents a 25.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.

    Merck & Co., Inc. Price Performance

    MRK opened at $105.20 on Friday. The stock has a fifty day moving average price of $96.98 and a 200 day moving average price of $87.76. The company has a current ratio of 1.66, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. Merck & Co., Inc. has a 1 year low of $73.31 and a 1 year high of $107.59. The stock has a market cap of $261.11 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.00 and a beta of 0.29.

    Merck & Co., Inc. (NYSE:MRK – Get Free Report) last released its quarterly earnings results on Friday, January 30th. The company reported $1.94 earnings per share for the quarter. Merck & Co., Inc. had a net margin of 29.63% and a return on equity of 44.54%. Analysts forecast that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

    Merck & Co., Inc. Increases Dividend

    The business also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Monday, December 15th will be given a $0.85 dividend. This is an increase from Merck & Co., Inc.’s previous quarterly dividend of $0.81. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, December 15th. Merck & Co., Inc.’s payout ratio is presently 44.91%.

    Analyst Ratings Changes

    Several research analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Merck & Co., Inc. from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. The Goldman Sachs Group raised their price objective on shares of Merck & Co., Inc. from $92.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Merck & Co., Inc. in a report on Monday. Citigroup started coverage on Merck & Co., Inc. in a research report on Monday, October 13th. They issued a “neutral” rating and a $95.00 target price for the company. Finally, Morgan Stanley lifted their price target on Merck & Co., Inc. from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Friday, December 12th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Merck & Co., Inc. presently has an average rating of “Hold” and a consensus target price of $110.13.

    Read Our Latest Stock Report on Merck & Co., Inc.

    Merck & Co., Inc. Profile

    (Free Report)

    Merck & Co, Inc is a global biopharmaceutical company engaged in the discovery, development, manufacture and marketing of prescription medicines, vaccines, biologic therapies and animal health products. Its portfolio spans multiple therapeutic areas with a particular emphasis on oncology, vaccines and infectious disease, as well as therapies for metabolic and chronic conditions. Among its well-known products are the cancer immunotherapy Keytruda (pembrolizumab) and the human papillomavirus vaccine Gardasil; the company also markets a range of medicines and vaccines for veterinary use through Merck Animal Health.

    Founded in the late 19th century as the U.S.

    See Also

    Want to see what other hedge funds are holding MRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merck & Co., Inc. (NYSE:MRK – Free Report).

    Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)



    Receive News & Ratings for Merck & Co. Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Merck & Co. Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • U.S. Capital Wealth Advisors LLC Boosts Stock Holdings in Merck & Co., Inc. $MRK

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    U.S. Capital Wealth Advisors LLC boosted its stake in Merck & Co., Inc. (NYSE:MRK – Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,420 shares of the company’s stock after purchasing an additional 2,532 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Merck & Co., Inc. were worth $2,804,000 as of its most recent SEC filing.

    Several other hedge funds and other institutional investors have also made changes to their positions in MRK. McLean Asset Management Corp lifted its position in shares of Merck & Co., Inc. by 3.7% in the second quarter. McLean Asset Management Corp now owns 3,543 shares of the company’s stock worth $292,000 after buying an additional 125 shares in the last quarter. Foundation Wealth Management LLC PA raised its holdings in shares of Merck & Co., Inc. by 2.4% during the 1st quarter. Foundation Wealth Management LLC PA now owns 5,361 shares of the company’s stock worth $481,000 after acquiring an additional 127 shares in the last quarter. Saiph Capital LLC boosted its position in shares of Merck & Co., Inc. by 3.7% during the 1st quarter. Saiph Capital LLC now owns 3,565 shares of the company’s stock valued at $320,000 after acquiring an additional 128 shares during the last quarter. Physician Wealth Advisors Inc. grew its holdings in shares of Merck & Co., Inc. by 2.9% in the second quarter. Physician Wealth Advisors Inc. now owns 4,587 shares of the company’s stock valued at $363,000 after purchasing an additional 128 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its position in Merck & Co., Inc. by 2.6% in the first quarter. N.E.W. Advisory Services LLC now owns 5,197 shares of the company’s stock worth $466,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 76.07% of the company’s stock.

    Analyst Upgrades and Downgrades

    MRK has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of Merck & Co., Inc. from $97.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 30th. Berenberg Bank cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and decreased their target price for the company from $100.00 to $90.00 in a research report on Wednesday, September 17th. Finally, Morgan Stanley dropped their price target on Merck & Co., Inc. from $99.00 to $98.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $106.41.

    Check Out Our Latest Stock Analysis on Merck & Co., Inc.

    Merck & Co., Inc. Stock Performance

    Shares of NYSE:MRK opened at $79.89 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.69. Merck & Co., Inc. has a 12 month low of $73.31 and a 12 month high of $116.26. The company has a market capitalization of $199.54 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 0.83 and a beta of 0.37. The firm’s 50-day moving average is $82.69 and its 200 day moving average is $82.23.

    Merck & Co., Inc. (NYSE:MRK – Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.10. The business had revenue of $15.81 billion during the quarter, compared to analyst estimates of $15.92 billion. Merck & Co., Inc. had a return on equity of 41.05% and a net margin of 25.79%. Merck & Co., Inc. has set its FY 2025 guidance at 8.870-8.970 EPS. Research analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current year.

    Merck & Co., Inc. Announces Dividend

    The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be paid a $0.81 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.24 dividend on an annualized basis and a yield of 4.1%. Merck & Co., Inc.’s dividend payout ratio (DPR) is presently 49.92%.

    Merck & Co., Inc. Company Profile

    (Free Report)

    Merck & Co, Inc is a health care company, which engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.

    See Also

    Want to see what other hedge funds are holding MRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merck & Co., Inc. (NYSE:MRK – Free Report).

    Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)



    Receive News & Ratings for Merck & Co. Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Merck & Co. Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Jim Cramer: Merck is a buy after the drugmaker’s post-earnings dip — here’s why

    Jim Cramer: Merck is a buy after the drugmaker’s post-earnings dip — here’s why

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  • Whittier Trust Co. of Nevada Inc. Buys 22,578 Shares of Merck & Co., Inc. (NYSE:MRK)

    Whittier Trust Co. of Nevada Inc. Buys 22,578 Shares of Merck & Co., Inc. (NYSE:MRK)

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    Whittier Trust Co. of Nevada Inc. increased its stake in Merck & Co., Inc. (NYSE:MRK – Free Report) by 10.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 247,338 shares of the company’s stock after purchasing an additional 22,578 shares during the quarter. Merck & Co., Inc. comprises 0.9% of Whittier Trust Co. of Nevada Inc.’s investment portfolio, making the stock its 18th largest holding. Whittier Trust Co. of Nevada Inc.’s holdings in Merck & Co., Inc. were worth $32,636,000 at the end of the most recent quarter.

    Other hedge funds also recently modified their holdings of the company. Cross Staff Investments Inc increased its stake in shares of Merck & Co., Inc. by 3.5% in the 4th quarter. Cross Staff Investments Inc now owns 6,710 shares of the company’s stock valued at $732,000 after acquiring an additional 225 shares in the last quarter. PFW Advisors LLC bought a new stake in shares of Merck & Co., Inc. in the 1st quarter valued at $212,000. Dynamic Advisor Solutions LLC increased its stake in shares of Merck & Co., Inc. by 6.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 77,833 shares of the company’s stock valued at $10,270,000 after acquiring an additional 4,433 shares in the last quarter. Kennedy Investment Group increased its stake in shares of Merck & Co., Inc. by 16.0% in the 4th quarter. Kennedy Investment Group now owns 2,564 shares of the company’s stock valued at $280,000 after acquiring an additional 354 shares in the last quarter. Finally, Schear Investment Advisers LLC increased its stake in shares of Merck & Co., Inc. by 16.0% in the 4th quarter. Schear Investment Advisers LLC now owns 3,233 shares of the company’s stock valued at $352,000 after acquiring an additional 445 shares in the last quarter. Institutional investors own 76.07% of the company’s stock.

    Wall Street Analyst Weigh In

    A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Merck & Co., Inc. from $142.00 to $143.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 price target on shares of Merck & Co., Inc. in a research note on Tuesday, June 18th. Berenberg Bank boosted their price target on shares of Merck & Co., Inc. from $140.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company boosted their price target on shares of Merck & Co., Inc. from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. Finally, Argus upgraded shares of Merck & Co., Inc. to a “strong-buy” rating in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.00.

    Check Out Our Latest Stock Analysis on Merck & Co., Inc.

    Merck & Co., Inc. Price Performance

    MRK opened at $126.74 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.99. The company has a market capitalization of $321.01 billion, a price-to-earnings ratio of 140.09, a P/E/G ratio of 2.43 and a beta of 0.38. The firm’s fifty day moving average price is $128.99 and its two-hundred day moving average price is $125.39. Merck & Co., Inc. has a 1 year low of $99.14 and a 1 year high of $134.63.

    Merck & Co., Inc. (NYSE:MRK – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.13. The firm had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.21 billion. Merck & Co., Inc. had a net margin of 3.76% and a return on equity of 14.05%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 EPS. As a group, analysts anticipate that Merck & Co., Inc. will post 8.62 earnings per share for the current fiscal year.

    Merck & Co., Inc. Announces Dividend

    The business also recently declared a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Monday, June 17th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, June 17th. Merck & Co., Inc.’s dividend payout ratio is presently 342.22%.

    Merck & Co., Inc. Company Profile

    (Free Report)

    Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names.

    Featured Articles

    Want to see what other hedge funds are holding MRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merck & Co., Inc. (NYSE:MRK – Free Report).

    Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)

    Receive News & Ratings for Merck & Co. Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Merck & Co. Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • Wells Fargo CEO talks up reasons to love the stock — plus, what’s behind the market drop

    Wells Fargo CEO talks up reasons to love the stock — plus, what’s behind the market drop

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    Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

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  • Montchanin Asset Management LLC Sells 400 Shares of Merck & Co., Inc. (NYSE:MRK)

    Montchanin Asset Management LLC Sells 400 Shares of Merck & Co., Inc. (NYSE:MRK)

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    Montchanin Asset Management LLC reduced its position in Merck & Co., Inc. (NYSE:MRK – Free Report) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,733 shares of the company’s stock after selling 400 shares during the quarter. Montchanin Asset Management LLC’s holdings in Merck & Co., Inc. were worth $546,000 as of its most recent SEC filing.

    A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wahed Invest LLC raised its position in Merck & Co., Inc. by 0.3% in the 1st quarter. Wahed Invest LLC now owns 32,439 shares of the company’s stock worth $3,451,000 after purchasing an additional 91 shares during the period. Richard W. Paul & Associates LLC raised its position in Merck & Co., Inc. by 1.0% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 9,389 shares of the company’s stock worth $1,083,000 after purchasing an additional 94 shares during the period. Financial Gravity Asset Management Inc. raised its position in Merck & Co., Inc. by 32.2% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 386 shares of the company’s stock worth $12,730,000 after purchasing an additional 94 shares during the period. Versant Capital Management Inc raised its position in Merck & Co., Inc. by 11.4% in the 2nd quarter. Versant Capital Management Inc now owns 926 shares of the company’s stock worth $107,000 after purchasing an additional 95 shares during the period. Finally, Providence Wealth Advisors LLC raised its position in Merck & Co., Inc. by 1.0% in the 1st quarter. Providence Wealth Advisors LLC now owns 9,711 shares of the company’s stock worth $1,106,000 after purchasing an additional 96 shares during the period. 74.59% of the stock is owned by hedge funds and other institutional investors.

    Insider Transactions at Merck & Co., Inc.

    In other news, EVP Richard R. Deluca sold 43,823 shares of Merck & Co., Inc. stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $105.03, for a total transaction of $4,602,729.69. Following the completion of the sale, the executive vice president now directly owns 111,764 shares in the company, valued at $11,738,572.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Richard R. Deluca sold 43,823 shares of Merck & Co., Inc. stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $105.03, for a total transaction of $4,602,729.69. Following the completion of the sale, the executive vice president now directly owns 111,764 shares in the company, valued at $11,738,572.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Johannes Jacobus Oosthuizen sold 2,081 shares of Merck & Co., Inc. stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $102.38, for a total transaction of $213,052.78. Following the sale, the insider now owns 18,191 shares of the company’s stock, valued at $1,862,394.58. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

    Merck & Co., Inc. Price Performance

    Shares of MRK opened at $104.36 on Wednesday. The company has a market cap of $264.45 billion, a price-to-earnings ratio of 57.98, a price-to-earnings-growth ratio of 8.78 and a beta of 0.34. Merck & Co., Inc. has a twelve month low of $96.36 and a twelve month high of $119.65. The company has a quick ratio of 1.12, a current ratio of 1.38 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average of $103.07 and a two-hundred day moving average of $106.71.

    Merck & Co., Inc. (NYSE:MRK – Get Free Report) last announced its earnings results on Thursday, October 26th. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.19. The company had revenue of $16 billion during the quarter, compared to the consensus estimate of $15.30 billion. Merck & Co., Inc. had a net margin of 7.77% and a return on equity of 18.26%. Merck & Co., Inc.’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.85 earnings per share. As a group, analysts predict that Merck & Co., Inc. will post 1.37 earnings per share for the current fiscal year.

    Merck & Co., Inc. Increases Dividend

    The company also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 15th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.95%. This is an increase from Merck & Co., Inc.’s previous quarterly dividend of $0.73. The ex-dividend date is Thursday, December 14th. Merck & Co., Inc.’s dividend payout ratio (DPR) is 162.22%.

    Wall Street Analysts Forecast Growth

    MRK has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $135.00 target price on shares of Merck & Co., Inc. in a research report on Wednesday, November 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Merck & Co., Inc. in a research report on Thursday, November 9th. They set a “buy” rating and a $115.00 target price on the stock. BMO Capital Markets raised shares of Merck & Co., Inc. from a “market perform” rating to an “outperform” rating and set a $132.00 target price on the stock in a research report on Friday, October 27th. Truist Financial reaffirmed a “buy” rating and set a $122.00 target price on shares of Merck & Co., Inc. in a research report on Friday, October 6th. Finally, Morgan Stanley raised their target price on shares of Merck & Co., Inc. from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $125.14.

    View Our Latest Stock Report on Merck & Co., Inc.

    Merck & Co., Inc. Profile

    (Free Report)

    Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes, as well as vaccine products, such as preventive pediatric, adolescent, and adult vaccines.

    Read More

    Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)

    Receive News & Ratings for Merck & Co. Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Merck & Co. Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

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  • 5 things to know before the stock market opens Monday

    5 things to know before the stock market opens Monday

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    Here are the most important news items that investors need to start their trading day:

    1. Bond yield boost

    U.S. stock futures slid Monday morning as the 10-year Treasury note yield again ticked above 5% — a level it hit Thursday for the first time since 2007. Earnings and inflation data will help to shape whether equities bounce back from a down week. The Dow Jones Industrial Average fell 1.6%, the S&P 500 dropped 2.4% and the Nasdaq Composite shed 3.2% last week. A string of major earnings reports are due Tuesday through Thursday. The personal consumption expenditures data out Friday will offer clues about whether the Federal Reserve will hike interest rates again this year. Follow live market updates here.

    2. Tech torrent

    The tech sector, which has largely driven market gains this year, will headline a busy stretch of earnings this week. Other key reports will come from the transportation and food and beverage spaces. Investors will focus on General Motors and Ford results as executives will answer questions about the effects of the more than month-long United Auto Workers strike. Here are the major reports this week:

    3. Aid arrives in Gaza

    The first humanitarian aid convoys since the start of the Israel-Hamas war arrived in Gaza over the weekend, and more shipments of food, water and medical supplies are expected Monday. U.S. President Joe Biden spoke to Israeli Prime Minister Benjamin Netanyahu on Sunday, and said there will be a “continued flow” of aid into Gaza. Israel intensified airstrikes on the besieged area in recent days, as it holds off on a potential ground invasion. Leaders around the globe are trying to prevent the conflict from turning into a broader war. Follow live updates on the conflict here.

    4. Oil consolidation ramps up

    5. More Google scrutiny

    Another country is probing Alphabet’s Google for potential anticompetitive practices. Japan’s Fair Trade Commission said it would investigate potential antitrust violations related to Google’s search engine and its apps and platforms. The move in Japan follows scrutiny over allegations of anticompetitive conduct in the European Union and United States. A Google spokesperson told CNBC that Android is an open platform that ensures “users always have a choice to customize their devices to suit their needs, including the way they browse and search the internet, or download apps.”

    – CNBC’s Lisa Kailai Han, Ruxandra Iordache, Matt Clinch and Arjun Kharpal contributed to this report.

    — Follow broader market action like a pro on CNBC Pro.

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  • Federal judge declines to block Medicare drug price negotiations

    Federal judge declines to block Medicare drug price negotiations

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    A pharmacist holds a bottle of the drug Eliquis, made by Pfizer Pharmaceuticals, at a pharmacy in Provo, Utah, January 9, 2020.

    George Frey | Reuters

    A federal judge on Friday declined to block the Biden administration from implementing Medicare drug price negotiations, upholding for now a controversial process that aims to make costly medications more affordable for older Americans.

    Judge Michael Newman of the Southern District of Ohio issued a ruling denying a preliminary injunction sought by the Chamber of Commerce, one of the largest lobbying groups in the country, which aimed to block the price talks before Oct. 1.

    That date is the deadline for manufacturers of the first 10 drugs selected for negotiations to agree to participate in the talks.

    But Newman, a nominee of former president Donald Trump, also declined to grant the Biden administration’s motion to dismiss the case entirely.

    Instead, he asked the Chamber to amend its complaint by Oct. 13 to clarify certain details in the case.

    Newman also gave the Biden administration until Oct. 27 to renew its motion to dismiss the case.

    He said “a final determination on standing issues will be made following a short (60-day) discovery period and—assuming they are filed—renewed motions to dismiss.”

    The ruling from Newman is a blow to the pharmaceutical industry, which views the process as a threat to its revenue growth, profits and drug innovation.

    President Joe Biden’s Inflation Reduction Act, which passed in a party-line vote last year, gave Medicare the power to directly hash out drug prices with manufacturers for the first time in the federal program’s nearly 60-year history

    The Chamber, which represents some companies in the industry, and drugmakers like Merck and Johnson & Johnson filed at least eight separate lawsuits in recent months seeking to declare the negotiations unconstitutional. But the Chamber’s suit was the only one seeking a preliminary injunction. 

    Michael Newman, U.S. District Court Judge Ohio

    Source: U.S. District Court

    The Chamber’s lawsuit argues that the program violates drugmakers’ due process rights under the Fifth Amendment by giving the government the power to effectively dictate prices for their medicines.

    The Chamber said an appeals court established a precedent that when the government sets prices, it must provide procedural safeguards to ensure a company receives a reasonable rate and fair return on investment. It stems from the 2001 case Michigan Bell Telephone Co. v. Engler, according to the Chamber.

    The Medicare negotiations do not provide these safeguards and impose price caps that are well below a drug’s market value, the Chamber argued.

    “There is a very, very high risk, maybe a guarantee, but certainly a very, very high risk, that this regime will result in prices that are unfair,” Jeffrey Bucholtz, an attorney for the Chamber, told judge Newman during a hearing earlier this month.

    He added that drugmakers either must agree to the price the government sets, or face an excise tax of up to 1,900% of U.S. sales of the drug.

    But lawyers for the DOJ said during the hearing that the program was far from compulsory. Drugmakers can choose the alternative to those two options: Withdraw their voluntary participation in the Medicare and Medicaid programs, according to attorney Brian Netter. 

    “The measure of relief here is for manufacturers to decide whether they want to stay in the program under the terms that are on offer,” Netter said. “If they choose not to, that’s their prerogative.”

    The other suits are scattered in federal courts around the U.S.

    Legal experts say the pharmaceutical industry hopes to obtain conflicting rulings from federal appellate courts, which could fast-track the issue to the Supreme Court. 

    Medicare covers roughly 66 million people in the U.S., according to health policy research organization KFF. The drug price talks are expected to save the insurance program an estimated $98.5 billion over a decade, the Congressional Budget Office said. 

    In August, the Biden administration unveiled the 10 drugs that will be subject to the first round of price talks, officially kicking off a lengthy negotiation process that will end in August 2024. The reduced prices for those initial medications won’t go into effect until January 2026.

    That includes blood thinners from Bristol-Myers Squibb and J&J, and diabetes drugs from Merck and AstraZeneca. It also includes a blood cancer drug from AbbVie, one of the companies represented by the Chamber of Commerce. 

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  • Earnings playbook: How to trade some of the biggest reports this week, including Apple

    Earnings playbook: How to trade some of the biggest reports this week, including Apple

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  • Pharmaceutical trade group sues Biden administration over Medicare drug price negotiations

    Pharmaceutical trade group sues Biden administration over Medicare drug price negotiations

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    Traders work on the floor of the New York Stock Exchange during morning trading, April 10, 2023.

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    The pharmaceutical industry’s largest lobbying group and two other organizations Wednesday sued the Biden administration over Medicare’s new powers to slash drug prices for seniors under the Inflation Reduction Act. 

    Pharmaceutical Research and Manufacturers of America, along with the National Infusion Center Association and the Global Colon Cancer Association, argue that the Medicare negotiations with drugmakers violate the U.S. Constitution, in a complaint filed in federal district court in Texas. 

    PhRMA represents many of the largest drugmakers in the world, including Eli Lilly, Pfizer and Johnson & Johnson. 

    The groups asked the court to declare the program unconstitutional and prevent the Department of Health and Human Services from implementing Medicare negotiations without “adequate procedural protections” for drug manufacturers. 

    HHS did not immediately respond to CNBC’s request for comment. 

    It marks the fourth lawsuit challenging the controversial provision of the Inflation Reduction Act, which became law last summer in a major victory for President Joe Biden and Democratic lawmakers.

    The policy aims to make drugs more affordable for older Americans but will likely reduce pharmaceutical industry profits. Merck and Bristol Myers Squibb — who are also represented by PhRMA — and the U.S. Chamber of Commerce filed separate lawsuits against the provision earlier this month. 

    The latest lawsuit argues the plan delegates too much authority to the HHS.

    PhRMA and the two organizations also argue that the provision includes a “crippling” excise tax aimed at forcing drugmakers to accept the government-dictated price of medicines, making it an excessive fine prohibited by the Eighth Amendment. 

    The lawsuit also argues the policy violates due process by denying pharmaceutical companies and the public input on how Medicare negotiations will be implemented. 

    “The price setting scheme in the Inflation Reduction Act is bad policy that threatens continued research and development and patients’ access to medicines,” PhRMA CEO Stephen Ubl said in a statement. 

    “It also violates the U.S. Constitution because it includes barriers to transparency and accountability, hands the executive branch unfettered discretion to set the price of medicines in Medicare and relies on an absurd enforcement mechanism to force compliance,” Ubl said.

    The first 10 drugs the provision applies to will be chosen in September, with the agreed prices taking effect in 2026. 

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  • Bristol Myers Squibb sues Biden administration over Medicare drug negotiations in third such lawsuit

    Bristol Myers Squibb sues Biden administration over Medicare drug negotiations in third such lawsuit

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    Bristol Myers Squibb on Friday sued the Biden administration over Medicare‘s new powers to slash drug prices, the third such lawsuit to be filed against the program in a matter of days.

    The lawsuit filed in federal district court in New Jersey argues the Medicare negotiations violate the First and Fifth Amendments of the U.S. Constitution.

    Bristol Myers Squibb has asked the court to declare the program unconstitutional and prevent the Health and Human Services Department from forcing the company to enter negotiations.

    Bristol Myers Squibb’s arguments mirror those lodged last week by Merck, the first company to sue the federal government over the drug negotiations. The U.S. Chamber of Commerce has also sued HHS over the program with similar arguments.

    The Inflation Reduction Act, passed in 2022 in a narrow party-line vote, empowered Medicare to negotiate drug prices for the first time in program’s six-decade history. The law is the central pillar in the Biden administration’s efforts to control rising drug prices and was a major victory for the Democratic Party.

    Bristol Myers Squibb said its blood thinner Eliquis, used to treat clots and strokes, will be subject to the negotiations this year. The company generated $11.8 billion in revenue from Eliquis last year, about 25% of the company’s $46 billion in total revenue for 2022.

    The drugmaker also said Opdivo, used to treat several types of cancer, will be subject to the Medicare negotiations in the future. Opdivo generated $8.2 billion in sales for the company in 2022, which made up about 18% of the drugmaker’s total revenue for that year.

    Bristol Myers Squibb argued that the federal government is forcing the company to enter negotiations and eventually agree to a heavily discounted price. The company claims this violates 5th Amendment protections against the government seizing private property without just compensation.

    The drugmaker also claimed HHS is forcing the company to publicly present the program as a negotiation over a fair price. The company called the negotiations a sham and claimed the federal government is forcing the drugmaker to “parrot its preferred political messaging” in violation of the First Amendment.

    HHS Secretary Xavier Becerra, in a statement after Merck’s lawsuit last week, vowed to vigorously defend the Inflation Reduction Act in court, saying, “The law is on our side.”

    White House Press Secretary Karine Jean-Pierre, also in a statement after Merck’s suit, said the Biden administration is confident it will win in court.

    “There is nothing in the Constitution that prevents Medicare from negotiating lower drug prices,” Jean-Pierre said.

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  • Moderna cancer vaccine with Merck’s Keytruda delays return of deadly skin cancer

    Moderna cancer vaccine with Merck’s Keytruda delays return of deadly skin cancer

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    Moderna’s sign is seen outside of their headquarters in Cambridge, MA on March 11, 2021.

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    An experimental mRNA vaccine developed by Moderna combined with Merck’s blockbuster immunotherapy Keytruda cut the risk of death or recurrence of the most deadly skin cancer by 44% compared Keytruda alone, U.S. researchers reported at a medical meeting on Sunday.

    The findings suggest that adding a personalized cancer vaccine based on mRNA technology to Keytruda, which revs up the immune response, could prolong the time patients have without recurrence or death, said Dr. Jeffrey Weber of the NYU Langone Perlmutter Cancer Center, who presented the findings.

    “From a general cancer therapeutic standpoint, this is a potential major breakthrough,” Dr. Ryan Sullivan, a melanoma expert at Mass General Cancer who worked on the study, said in a statement.

    The results, presented at American Association for Cancer Research meeting in Orlando, Florida, add data details to partial findings released by the companies in December.

    The Merck/Moderna collaboration is one of several combining powerful drugs that unleash the immune system to target cancers with mRNA vaccine technology. BioNTech and Gritstone Bio are working on competing cancer vaccines based on mRNA technology.

    Moderna’s vaccine is custom-built based on an analysis of a patient’s tumors after surgical removal. The vaccines are designed to train the immune system to recognize and attack specific mutations in cancer cells.

    Merck’s Keytruda, which is approved to treat melanoma and many other cancers, belongs to a class of widely used immunotherapies known as checkpoint inhibitors designed to disable the PD-1, or programmed death 1, protein that helps cancer evade the immune system.

    The midstage trial enrolled men and women at high risk of their melanoma returning.

    Among 107 study subjects who received both the experimental vaccine, mRNA-4157/V940, and Keytruda, cancer returned in 24 subjects (22.4%) within two years of follow-up, compared with 20 out of 50 (40%) who received Keytruda alone.

    There was little difference in response rates among people whose tumors had a lot of mutations – a typical predictor of immunotherapy response – and those whose tumors did not.

    Severe side effects were similar between the two arms of the study, the scientists reported. Fatigue was the most common side effect reported by patients specifically associated with the vaccine.

    Merck said the companies are in talks with U.S. regulators about the design of a late-stage trial, which is likely needed for approval of the combination regimen.

    It could take three or four years before the results of the larger trials are known, Eliav Barr, Merck’s head of global clinical development and chief medical officer, said in an interview.

    Barr said it took Moderna about eight weeks to design a personalized mRNA vaccine for each patient.

    In the past, similar experimental cancer vaccines were developed targeting a single tumor mutation, or neoantigen.

    Moderna’s mRNA technology allowed for the inclusion of as many as 34 neoantigens, which Barr called “astonishing.”

    Currently, scientists cannot predict which single mutation is important in generating an anti-tumor response. With mRNA technology in combination with Keytruda, “we can create this shotgun approach … that can create a more potent immune response,” Barr said.

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  • Barclays highlights 10 top quality stocks that are also cheap

    Barclays highlights 10 top quality stocks that are also cheap

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  • Chinese hospital says half of its staff got Covid

    Chinese hospital says half of its staff got Covid

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    Locals line up for medical treatment at the Beijing Hospital of Traditional Chinese Medicine on June 1, 2022.

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    BEIJING — About half of the nearly 2,000 workers at the Beijing Hospital of Traditional Chinese Medicine got Covid-19 during the latest wave, director Liu Qingquan said Wednesday.

    Liu told reporters the workers all recovered by taking traditional Chinese medicine. He said out of the 1,000 staff infected, only one, who already had high blood pressure, developed pneumonia.

    China has encouraged the use of traditional Chinese medicine alongside Western treatment for Covid. Rather than pharmaceutical drugs, traditional Chinese medicine relies on herb-based remedies and natural methods to help the body heal itself.

    The omicron variant swept China in December as authorities abruptly ended most Covid controls. Local businesses reported the majority of their staff fell sick within a week, before recovering. Tens of thousands of people rushed to fever clinics in a single day in the city of Beijing alone, local authorities said.

    Due to the surge in patients, doctors and nurses couldn’t return home for several days, Liu said. He said the health workers sometimes had to work while they themselves were sick and taking medication.

    In the last two weeks, officials in Beijing city and other Chinese urban centers have said they’ve passed the worst of the Covid outbreak.

    While the situation has eased, “from the perspective of the hospital, our pressure is still very great,” Wang Guiqiang, director of the infectious diseases department at Peking University First Hospital, said Wednesday. That’s according to a CNBC translation of his Mandarin-language remarks.

    The hospital turned additional wards into areas for intensive care, and trained doctors to become ICU nurses, Wang said.

    Pfizer’s Covid-19 drug

    In the wake of China’s latest Covid wave, locals also rushed to stock up on medicine, resulting in shortages and long lines outside pharmacies last month.

    Pfizer‘s Paxlovid drug for treating Covid remains in short supply domestically, Wang said. But he said the drug will soon be produced in China by a local company.

    Pfizer has signed an agreement with a local partner to manufacture Paxlovid in China, CEO Albert Bourla said Monday at the JPMorgan Health Care Conference, according to a transcript. He said local production could begin in as soon as three or four months.

    Read more about China from CNBC Pro

    Paxlovid will only be covered by China’s basic national health insurance until March 31, China’s Healthcare Security Administration said Sunday. The drug failed to make an annual list of insurance-covered medicines because Pfizer asked for too high a price, the administration said.

    CEO Bourla said what China wanted to pay was “lower than the lowest of the middle” price bracket — a range that’s 60% to 70% below what high-income countries pay.

    “We didn’t agree,” Bourla said. “They are the second highest economy in the world. And I don’t think that they should pay less than [El] Salvador.”

    If negotiations don’t change the situation by April, Bourla said, “we will continue with the private market in China, which is significant.”

    Demand for Paxlovid from China has exploded from a few thousands to the millions, he said, without elaborating.

    Merck and Chinese companies are also selling Covid drugs to the local market.

    Focus on treatment

    Since mandatory testing for Covid ended in early December, official numbers on the local outbreak have dropped off sharply.

    When asked about Covid deaths, Wang said calculating excess deaths was the best way, such as comparing figures to December 2021.

    It’s not clear how soon those numbers would be available. China has said only a handful of deaths meet its criteria for being tied to Covid. Anecdotes indicate overall deaths in the country have increased since December.

    “At this time I don’t think it’s necessary to look into every single case. The priority should be treating patients,” said Liang Wannian, executive vice-dean of the Vanke School of Public Health at Tsinghua University. That’s according to a CNBC translation of his Mandarin-language remarks Wednesday.

    Liang said the country would watch for new Covid variants and report them in a timely fashion. He did not go into much detail on the procedures for doing so.

    A change in the hospitalization or death rate associated with Covid would be the earliest indication of a new variant, Dr. Chris Murray, director of the Institute for Health Metrics and Evaluation, said in late December. He said the likelihood of a new Covid variant emerging in China is low.

    The World Health Organization said this week that China is providing more information on the Covid-19 outbreak, but the country is still heavily underreporting deaths, according to Reuters.

    On Wednesday, Liang said that especially in rural areas, the most difficult phase of China’s Covid wave has passed.

    But he said according to China’s latest Covid policy, local authorities facing a large outbreak could still move classes online and limit large gatherings.

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  • Goldman Sachs says China is still ‘months away’ from reopening

    Goldman Sachs says China is still ‘months away’ from reopening

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    An advertisement of the People’s Liberation Army overlooks a street scene in Beijing on the day Chinese President Xi Jinping and his U.S. counterpart Joe Biden hold a virtual summit, in Beijing, China, November 16, 2021.

    Thomas Peter | Reuters

    Stocks in Hong Kong and China rallied at the end of a volatile week last week, driven by speculation that Beijing could soon ease its Covid-zero policy — but economists at Goldman Sachs say China may still be “months away” from reopening.

    Over the weekend, Chinese health officials reiterated the government’s stance of sticking to its policy of zero-tolerance against Covid, even as most of the world has started lifting controls.

    That didn’t stop continued optimism in greater China markets, and the Hang Seng Tech index surged past 5% briefly in Asia’s morning trade on Monday.

    We estimate that a full reopening could drive 20% upside for Chinese stocks…

    “The actual reopening is still months away as elderly vaccination rates remain low and case fatality rates appear high among those unvaccinated based on Hong Kong official data,” Goldman Sachs economists led by Hui Shan said in a Sunday note.

    China stocks may jump 20% at reopening

    Goldman maintains its view that China could reopen in the second quarter of 2023.

    When that time comes, it will be good news for the stock market, economists at the U.S. investment bank said pointing out that there could be a rally leading up to the easing of measures.

    “We estimate that a full reopening could drive 20% upside for Chinese stocks based on empirical, top-down, and historical sensitivity analyses,” a separate note by economists including Kinger Lau said.

    “Equity markets usually react more positively to local policy relaxation than to international reopening, with Domestic Cyclicals and Consumer sectors outperforming,” the note said.

    Read more about China from CNBC Pro

    The Chinese government will likely stick to its zero-Covid policy “until all the necessary medical preparations are done,” Goldman’s analysts said.

    The latest Hong Kong government statistics show only 60.81% of people aged 80 and older have received all three doses.

    Separate government data from Hong Kong showed the fatality rate among the unvaccinated people who were 80 years and above was at 14.79%, while the fatality rate of those in the same age group who received three doses was far lower at about 1.48%.

    “A safe and orderly reopening is very difficult right now,” the Goldman Sachs note said.

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  • Investor Kevin Simpson highlights five dividend-paying stocks to get through high inflation

    Investor Kevin Simpson highlights five dividend-paying stocks to get through high inflation

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