US Stock Market Movement | Merck falls more than 10% after lowering adjusted earnings per share expectations
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On Tuesday, Merck opened lower and fell more than 10% as of the time of publication, trading at $114.9. The company lowered its adjusted earnings per share expectations. Merck's Q2 revenue was $16.11 billion, a 7% year-on-year increase, with market expectations at $15.84 billion. The company revised its adjusted earnings per share expectations from the previous $8.53 to $8.65 down to $7.94 to $8.04. This adjustment reflects one-time costs related to the acquisitions of Harpoon Therapeutics and EyeBio, at $0.26 and $0.51 per share, respectively
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