Blue Chips Knocked Lower by Merck Recall
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The blue-chip Dow Jones average fell  on Thursday after drug maker Merck & Co., a member of the Dow,  recalled its widely sold Vioxx painkiller and oil prices  hovered around $50 a barrel.
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Merck &amp; Co. profits plunged in the third quarter in the wake of the recall of its Vioxx arthritis drug and Eli Lilly &amp; Co.
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Merck &amp; Co., the second-largest US drugmaker, lost its AAA credit rating from Standard &amp; Poor&#39;s because of revenue losses and potential liabilities from the company&#39;s September recall of the Vioxx painkiller.
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Merck said lost Vioxx sales and estimated customer returns totaled $492 million in the third quarter, and the recall slashed net income by about $553 million.
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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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U.S. stocks futures tumbled on  Thursday after drug company Merck & Co. MRK.N announced it  was recalling a key drug, indicating the market would open  lower.
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NEW YORK - Investors sent stocks lower Thursday after Merck & Co. said it would be forced to remove its best-selling Vioxx arthritis drug from the market due to serious health risks...
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Wall Street stock indexes closed out a dismal third quarter mixed Thursday after Merck &amp; Co. stated it would remove its best-selling Vioxx arthritis drug from the market.
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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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Merck & Co. MRK.N on Thursday said  its quarterly profit fell 28 percent due to last month's recall  of its Vioxx arthritis drug, and the company predicted 2004  earnings will fall as much as 11 percent because of the recall.
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Merck and Co  reported a fourth-quarter loss on Wednesday on legal settlement costs and sales that disappointed investors, sending shares down 4 percent.
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UK blue chips closed lower Thursday having spent much of the afternoon tracking Wall Street which was unsettled by rising oil prices and mixed economic data, but overall were subdued amid ongoing interest rate concerns at home.
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US STOCKS slipped yesterday as drug-maker Merck recalled its widely sold Vioxx arthritis drug, and oil resumed its climb to $50 a barrel.
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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 - Wall Street closed out a dismal third quarter with a mixed performance Thursday after Merck & Co. said it would be forced to remove its best-selling Vioxx arthritis drug from the market...
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Wall Street closed out a dismal third quarter with a mixed performance Thursday after Merck &amp; Co. said it would be forced to remove its best-selling Vioxx arthritis drug from the market.
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US stocks futures tumbled on Thursday after drug company Merck &amp; Co. (MRK.N: Quote, Profile, Research) announced it was recalling a key drug, indicating the market would open lower.