Merck Lifts Blue Chips; Cisco Hurts Techs
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U.S. blue chip stocks rose on  Wednesday, helped by drugmaker Merck & Co. Inc. MRK.N, but  technology stocks were weaker as results from tech bellwether  Cisco Systems Inc. CSCO.O disappointed Wall Street.
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NEW YORK - Stocks were mixed Tuesday as oil prices stepped back from earlier lows, but better-than-expected earnings from International Business Machines Corp. and Texas Instruments Inc., boosted blue chips and technology shares...
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US blue chips fell on Thursday after drug company Merck &amp; Co.(MRK.N: Quote, Profile, Research) said it was withdrawing its key arthritis drug Vioxx, while relentless oil prices floated back to $50 a barrel.
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After an early morning skid, markets rebounded, boosted by an optimistic earnings report from Merck and a more favorable outlook for the technology sector.
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Technology stocks climbed near a  2-month high on Monday, as investors seeing value in a battered  group bought software and semiconductor shares, while higher  crude oil prices limited blue-chip gains.
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U.S. technology stocks rose on Wednesday as Cisco Systems'profit and outlook reinforced optimism over earnings, while blue chips ended little changed as an oil price drop weighed on energy shares.
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NEW YORK - US technology stocks rose late Thursday afternoon (NY time), led by semiconductor shares, while blue-chip stocks were slightly lower.
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Charges hurt the quarterly results of Johnson & Johnson, Merck & Co. and Schering-Plough Corp., but the drugmakers' shares rose as J&J's earnings beat Wall Street forecasts and Merck sales edged higher despite the withdrawal of its best-selling Vioxx arthritis drug.
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Technology stocks rose on Monday as  semiconductor companies returned to favor on Wall Street, led  by Intel Corp.INTC.O, and helped lift major indexes.
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The blue-chip Dow Jones average was  knocked lower on Thursday after drug maker Merck & Co.MRK.N,  a member of the Dow, recalled its widely sold Vioxx painkiller  and oil prices hovered around $50 a barrel.
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U.S. stocks rose Monday on strong Merck & Co. profits and news of a nearly $18 billion oil services takeover, while Treasury bonds eased as reduced fears about the subprime credit market made riskier assets attractive again.
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US BLUE-chips edged higher yesterday after Ford raised its earnings forecasts, but wireless technology provider Qualcomm held back the Nasdaq after saying an accounting review may reduce its pre-tax income.
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Better-than-expected profit news from Merck also raised the mood on Wall Street, helping shares partly recover from a steep sell-off Friday.
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TORONTO (CP) - The Toronto stock market posted a small gain Thursday, pushed higher by the gold sector, but drug company Merck &amp; Co.
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Drug maker Merck & Co. Inc. MRK.N  dominated trading in U.S. stocks on Thursday, single-handedly  driving the 30-stock Dow Jones average lower after it withdrew  its arthritis drug Vioxx because a study showed it doubled the  risk of heart attack and stroke.
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The blue-chip Dow average ended  slightly higher on Monday and the tech-driven Nasdaq also  gained as declining crude-oil prices made equities aside from  energy names attractive.
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The blue-chip Dow average declined  slightly, while the Nasdaq and the S&P 500 were little changed  on Tuesday as investors waited for an expected quarter-point  hike in U.S. interest rates and results from technology  bellwether Cisco Systems Inc. CSCO.O.