====Merck (MRK) reported earnings on Tue 30 Jul 24 (b/o)

 

Merck beats by $0.12, beats on revs; lowers FY24 EPS guidance to reflect negative impact from one-time charge for acquisition of EyeBio, slightly raises rev guidance

• Reports Q2 (Jun) earnings of $2.28 per share, excluding non-recurring items, $0.12 better than the FactSet Consensus of $2.16; revenues rose 7.1% year/year to $16.1 bln vs the $15.87 bln FactSet Consensus.
• KEYTRUDA Sales Grew 16% to $7.3 Billion; Excluding the Impact of Foreign Exchange, Sales Grew 21%.
• Co issues guidance for FY24, sees EPS of $7.94-$8.04, excluding non-recurring items, vs. prior outlook of $8.53 to $8.65. New outlook reflects negative impact from one-time charge of approximately $1.3 bln, or $0.51 per Share, for the acquisition of EyeBio. The FactSet consensus estimate is $8.16; Sees FY24 revs of $63.4-$64.4 bln vs prior guidance of $63.1-$64.3 bln, vs. the $64.29 bln FactSet Consensus.

Earnings this week : July 29 - Aug 2, 24 (wk 31)

Monday (July 29)

• Morning: AMG CTRI CNA HOPE IART MCD OIS ON PHG RVTY
• Afternoon: AMKR BYON BRX CHK CNO CDP CORT CR CWK CVI PLOW ESI EQR FFIV FLS HLIT HOLX KFRC LSCC LTC NEO PCH RMBS SAFE SANM SBAC ST SFM SYM TLRY TRNS VRNS WELL WWD

Tuesday (July 30)

• Morning: AGCO AEP AMT ADM ARCC AWI BP CECO CNP CVLT GLW CTS DTM EXP ECL EPD IT GPK HEES HAYW HWM HUBB ITW INCY IGT IPGP JBLU LDOS DRS LGIH MRK NEOG PYPL PFE PSX PHIN PJT PG PEG RGEN STNG SITC SPGI SOFI SWK SYY TRS UFPI WSO XYL ZBRA
• Afternoon: ATEN AKR AEIS AMD ACGL AROC ANET ATRC AXS AX BHE BLKB BXP CZR CCCS CRK DENN DV EA EQH EQC ESS EXR FSLR FE FRSH HA HLI HURN NARI INFA JBT KAI LSTR LMND LC LFUS LYV MTCH MSFT MOD MDLZ NMIH NOG NWE OI OVV PCRX PEN PINS POWL PRO PSA QRVO WTTR SWKS STAG SBUX SYK TEX TX UDR UMBF UNM VOYA WPC WERN WU ZWS

Wednesday (July 31)

• Morning: ADP ALGT AN ASC ATEC ATHM AVDX AVNS BA BG BLCO BWA CBZ CDW CHEF CLH CMCO CNH COCO COR DAN DAY DD DEA DFIN DSX EDU ENTG FVRR GEHC GNRC GRMN GSK GTES HES HESM HUM JCI KHC KKR LECO LIVN LNTH LXP MA MAC MAR MNRO MO NCLH OMF OPCH OSK OSW PAG PERI PNM PSN PUMP RDWR ROCK SAGE SCL SHOO SITE SLGN SMG SR STRA SXC TEVA THRM TKR TMUS TT TTMI ULS UMC UTHR VRSK WAT WEC WING XRAY
• Afternoon: ACHC ACLS AFL AIG ALB ALKT ALL AM ANSS APA AR ARM AVB AWK BALY BKH BV CAKE CCRN CDNA CFLT CGNX CHRW CNMD CODI COHU CRBG CTSH CTVA CVNA CWAN CWH DLX EBAY EG EIG ENVX EOLS EPR ERII ETD ETSY EVTC EXAS EXPI FCPT FICO FMC FORM GKOS GRBK GT HLF HST IEX IR IRT JAZZ KD KN KRC LRCX MAA MAX MCW MET META MGM MGY MTG MUSA MYRG NE NFG NGVT NMFC NOVA NRDS NTGR OLO PAYC PDM PGRE PK PPC PRDO PTC PTVE QCOM QDEL QGEN QTWO RDN RELY RGR RHP RIG RIOT RRX RSI SCI SDGR SNBR SON SUI TDOC TENB THG TMDX TS TSLX TTEK UDMY VAC VICI WDC WHD ZETA

Thursday (August 1) 

• Morning: ACIW ADT AER AGIO ALE ALGM ALNY AME APD APG APLS APO APPN APTV ARW ATUS AUPH AXTA BALL BAND BDC BDX BIGC BIIB BIP BPMC BTU BUD CAMT CI CMI COP CROX CRTO CWEN CWT D DINO DNB DRVN ECVT ES ETN ETR EVGO EXC EXLS FTDR GWW HII HOUS HSY HTZ IBP ICE IDA IDCC INMD IONS IRM ITRI ITT JHG K KEX KIM KRP KTB LAD LAUR LH LNC LPG LTH MBLY MGPI MIDD MRNA MT MTSI NBIX NSIT NSP NVRI OCSL OMCL PACK PATK PBF PNW PWR RBLX REGN RUSHA SABR SHAK SIRI SNDR SO SPNS STGW SWI TFX THRY TNK TPB TRN UNIT UPBD UTZ VCEL VNT W WCC WEN XEL XPO
• Afternoon: AAON AAPL ACA ACCO ADPT AEE AL ALHC ALTR AMH AMZN ARDX ASUR BBAI BECN BFAM BIO BKNG BZH CABO CC CE CIVI CLFD CLX COIN CPT CRSR CTOS CTRA CUBE CWST DASH DKNG DORM DRH ED ELME EOG FDP FND FOXF FRT GDDY GDYN GEN HCC HTGC HUBG IAS ICFI INST INTC IRTC LASR LEG LMAT LNT LOCO MARA MATX MCHP MIR MMSI MP MPWR MSI MSTR MTD MTZ NET NXT OEC OHI OLED OPEN PCOR PCTY POST PRCT PRU REG RGA RGNX RKT RLJ RMD RNG ROKU RYAN SEM SIMO SKT SNAP SNDX SPT SPXC SQ SWN TEAM TNDM TROX TWLO VCTR VIR VREX VRTX VTR WK WSC X XHR XPOF

Friday (August 2) 

• Morning: ABG ARCB ARES ATMU BERY BTSG CBOE CHD CNK CVX ESAB ESNT FLGT FYBR GTLS HR IMO LIN LYB MOG.A NMRK NWN OMI PAA PIPR PPL PRGO PRLB RBC SNCY TILE TWST XOM
• Afternoon: AMC AES

===Moderna (MRNA), Merck (MRK) vaccine with Keytruda cuts risk of deadly skin cancer returning in half

 

Moderna and Merck (MRK) announce mRNA-4157 in combination with Keytruda demonstrated continued improvement in recurrence-free survival and distant metastasis-free survival in patients with high-risk stage III/IV melanoma following complete resection versus Keytruda at three years 

• Co announced follow-up data from the Phase 2b randomized KEYNOTE-942/mRNA-4157-P201 study, a clinical trial evaluating mRNA-4157 (V940), an investigational individualized neoantigen therapy (INT), in combination with KEYTRUDA, Merck's anti-PD-1 therapy, in patients with resected high-risk melanoma (stage III/IV) following complete resection. In this planned analysis occurring with a median follow-up of approximately three years, adjuvant treatment with mRNA-4157 (V940) in combination with KEYTRUDA continued to demonstrate a clinically meaningful improvement in recurrence-free survival (RFS), reducing the risk of recurrence or death by 49% (HR=0.510 [95% CI, 0.288-0.906]; one-sided nominal p=0.0095) compared with KEYTRUDA alone. mRNA-4157 (V940) in combination with KEYTRUDA also continued to demonstrate a meaningful improvement in distant metastasis-free survival (DMFS), compared with KEYTRUDA alone, reducing the risk of developing distant metastasis or death by 62% (HR=0.384 [95% CI, 0.172-0.858]; one-sided nominal p= 0.0077).
• Adverse events observed with mRNA-4157 (V940) in KEYNOTE-942 remain consistent with those previously reported. At a median planned follow-up of approximately three years, the number of patients reporting treatment-related Grade = 3 adverse events were similar between the arms (25% for mRNA-4157 (V940) in combination with KEYTRUDA vs 20% for KEYTRUDA alone). The most common adverse events of any grade attributed to mRNA-4157 (V940) were fatigue (60.6%), injection site pain (56.7%), and chills (49%).
• Based on data from the Phase 2b KEYNOTE-942/mRNA-4157-P201 study, the U.S. Food and Drug Administration and European Medicines Agency granted Breakthrough Therapy Designation and the Priority Medicines (PRIME) scheme, respectively, for mRNA-4157 (V940) in combination with KEYTRUDA for the adjuvant treatment of patients with high-risk melanoma. The companies previously presented data on the study's primary analysis with a median planned follow-up of approximately two years. The study's primary endpoint, RFS, was presented in April 2023 at the American Association for Cancer Research (AACR) Annual Meeting, and the study's secondary endpoint, DMFS, data was presented in June 2023 at the American Society of Clinical Oncology (ASCO) Annual Meeting. Data from the primary analysis has been submitted for publication in a peer-reviewed journal.

==Merck (MRK) reported earnings on Thur 26 Oct 23 (b/o)

 

 Merck beats by $0.18, beats on revs; lowers FY23 EPS guidance, raises revenue guidance

• Reports Q3 (Sep) earnings of $2.13 per share, $0.18 better than the FactSet Consensus of $1.95; revenues rose 7.0% year/year to $16 bln vs the $15.3 bln FactSet Consensus.
• KEYTRUDA Sales Grew 17% to $6.3 Billion; Excluding the Impact of Foreign Exchange, Sales Also Grew 17%.
• GARDASIL/GARDASIL 9 Sales Grew 13% to $2.6 Billion; Excluding the Impact of Foreign Exchange, Sales Grew 16%.
• LAGEVRIO Sales Grew 47% to $640 Million; Excluding the Impact of Foreign Exchange, Sales Grew 51%.
• Non-GAAP gross margin was 77.0% for both the third quarters of 2023 and 2022, due to the unfavorable impact of foreign exchange, and higher LAGEVRIO sales, which have a low gross margin, offset by lower revenue from third-party manufacturing arrangements, lower manufacturing-related costs and the favorable impact of product mix.
• Co issues mixed guidance for FY23, sees EPS of $1.33-$1.38 vs. $3.03 FactSet Consensus, down from prior guidance of $2.95-$3.05; sees FY23 revs of $59.7-$60.2 bln vs. $59.32 bln FactSet Consensus, up from prior guidance of $58.6-$59.6 bln.

Earnings this week : Oct 23 - 27, 23 (wk 43)

Monday (Oct 23)

• Morning:  BOH HOPE PHG
• Afternoon: AGYS ARE BRO CADE CDNS CALX CATY CLF CR CCK HSTM HXL IBTX MEDP PKG RLI SSD AAN TBI WRB WSFS

Tuesday (Oct 24)

• Morning: MMM HOUS ADM ARCC AWI ABG BANC BCS CNC KO CBU GLW DHR DOV DOW FI FELE GATX GE GM HAL HCA HRI ITW IVZ KMB EDU NEE NEP NVS NUE ONB PCAR PPBI PACW PNR PII PHM DGX RTX SASR SHW SFNC SMPL SPOT SYF TECK TRU VZ XRX
• Afternoon:  GOOG NTB BYD BDN CNI CHX CB CSGP EGP WIRE ENVA FFIV FCF FFBC HA HIW JBT MANH MTDR MSFT MSA NBHC RRC RNST ROIC RHI SNAP LRN TDOC TXN TRMK UMBF VBTX VICR V WM

Wednesday (Oct 25)

• Morning:  ALKS APH ADP AVY BXMT BA BOKF CME CNX CSTM EVR FTV GD GBX GPI HCSG HES HESM HLT IART LKFN LTH LAD MKTX MNRO MCO COOP MSM NAVI NSC ODFL OMF OPCH OTIS OC PAG PRG PB RDUS ROP RES R SLGN SF TMUS TMHC TDY TMO TNL UMC VRT WNC WAB WFRD
• Afternoon:  AEM ALGN ALSN AMP AM AR ATR ASGN AVB AGR BKR BHE CACI CCS CHE CHDN CYH CNMD CVBF EW ESI EIG EPR EQT EQIX ETD EG FIBK FLEX FLS FBIN FTAI GL GSHD GGG IBM ICLR IEX IMAX PI INVH KALU KRC KLAC LSTR LC LXFR MAT MXL META MAA MOH MYRG NTGR NXT ORLY OII CASH PEGA PPC PLXS QS RJF ROL SLM SEIC NOW STC SUI NOVA TER TNET TROX UCTT URI UHS VMI VLTO VICI VKTX WSBC WU WHR WH

Thursday (Oct 26)

• Morning: AOS MO AMT AIT ARCH AMBP BPMC BSX BFH BMY BC BG CRS CARR CBZ CNP CMS CTS CFR EXP EME EXLS XPRO FAF FCFS ULCC FCN THRM GWW HEES HOG HAS HSY HTZ HON INSM IP ITGR KVUE KDP KIM KEX LH LAZ LEA LII LIN LKQ MAS MA MDC MPW MRK MBLY NYCB NEM NOC NVCR OSIS OSTK PATK BTU PCG BPOP RS RITM RCL STX SAH SBSI LUV STM FTI TXT SHYF TSCO TW TPH TRS UPS VLO VLY VC VMC WST WEX WTW
• Afternoon:  ATGE AB AMZN ABCB APPF AJG AX BIO BJRI SAM CPT COF CSL CC CMG CINF COLM CDP COUR CUZ CUBI DECK DXCM DLR EMN ELME EHC ENPH ESS EVTC EXPO FHI FE F GLPI HIG HUBG INTC JNPR KNSL LHX LPLA LTC MGRC MMSI MTX MHK NRDS NOV OLN PEB PFSI PFG PFS PTCT RSG RMD SKX SKYW SSB SPSC SSNC STAG TEX TXRH X UDR VRSN WY

Friday (Oct 27)  

• Morning:  ABBV AER AON ARCB AN AVTR BCPC B BAH CBRE GTLS CHTR CVX CL DAN XOM FHB GNTX IMO LECO LYB NWL NVT OIS PSX PIPR PNM POR SAIA SNY SWK STEL TROW WT XEL
• Afternoon:  ACMR

===Prometheus Biosciences (RXDX) to be acquired by Merck (MRK) for $10.8 billion

 

Merck Strengthens Immunology Pipeline with Acquisition of Prometheus Biosciences, Inc.

PRA023 is a novel, late-stage candidate for ulcerative colitis and Crohn’s disease and other autoimmune conditions

Prometheus Biosciences’ comprehensive data set enables target discovery and precision medicine approach in inflammation and immunology

Merck has agreed to buy Prometheus Biosciences for $10.8bn as the US drugmaker bolsters it pipeline ahead of the possible loss of exclusivity over its best-selling cancer drug later this decade.

The all-cash transaction for Prometheus — a San Diego-based biotech focusing on diseases caused by abnormal activity of the body’s immune system — is the latest sign of a rebound in mergers and acquisitions in the sector following a dip in activity last year.

Prometheus is developing a monoclonal antibody treatment for ulcerative colitis, a type of inflammatory bowel disease. It announced positive trial results for its lead drug candidate targeting the disease from a mid-stage trial in December and is developing several other therapies using machine learning to identify drug targets.

Merck said the deal would strengthen the company’s position in the fast-growing field of immunology, where there is significant unmet patient need.

Merck has been on the hunt for acquisitions over the past year as it seeks to diversify its pipeline ahead of the potential loss of exclusivity on its blockbuster cancer drug Keytruda. Key patents related to that drug, which generated almost $21bn in revenues in 2022, are due to expire towards the end of the decade enabling rivals to launch similar products.

The US drugmaker was reportedly in talks with oncology-focused Seagen about a potential deal last year but did not move forward with a transaction. In March Pfizer swooped on Seagen, announcing a deal for a total enterprise value of $43bn, which was the largest pharmaceutical transaction announced since AbbVie agreed to buy Allergan in 2019.

Imago BioSciences (IMGO) to be acquired by Merck (MRK) for $36.00/share

 

 

Imago BioSciences to be acquired by Merck (MRK) for $36.00/share 

• Cos announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Imago for $36.00 per share in cash for an approximate total equity value of $1.35 billion.
• “This acquisition of Imago augments our pipeline and strengthens our presence in the growing field of hematology,” said Merck Chief Executive Robert Davis in a news release.
• Hematology is the branch of medicine that focuses on the study of blood diseases. Imago is a clinical stage biopharmaceutical company developing new medicines for the treatment of several bone marrow diseases.

Seagen (SGEN) to be acquired by Merck (MRK)?

 The Wall Street Journal reported the $40 billion deal for Seagen Inc. is unlikely to be finalized ahead of the pharmaceutical giant’s earnings later this month, though the talks remain on track, according to people familiar with the matter.

• Seagen helped pioneer a class of drugs known as antibody drug conjugates. The therapies take advantage of the honing abilities of antibody drugs to deliver a potent toxin to a specific tumor target.
• As soon as this month, a study evaluating Seagen’s Padcev as a first-line treatment for bladder cancer could produce data. The study is examining Padcev’s use alone and in combination with Keytruda, according to analysts.
• Longtime CEO Clay Siegall, who co-founded the company more than 24 years ago, resigned in May in the wake of allegations of domestic abuse.
  

Oct 8, 2020 :  Seattle Genetics shortened its name to Seagen, dropping local connection as it goes global. The name reflects the company's growth over 23 years from a Seattle-based biotech to an organization with three cancer fighting drugs on the market.

  

May 16, 2022 — Clay Siegall spent 33 hours in jail and was charged with fourth degree misdemeanor assault. 

Seagen CEO and co-founder Clay Siegall, 61, built the Seattle-area biotech into one of the most successful in the world.   A proxy filing also revealed Siegall to be one of the highest-paid executives in the industry, making $18.9 million in 2021.

 

Seagen has gained FDA approvals for four of its cancer treatments. Last year, the company reported $1.6 billion in revenue.
 

Siegall has been the company’s CEO since he co-founded the company, then called Seattle Genetics, in 1998. The company’s first oncology drug, Adcetris, was approved in 2011, and it now has four commercial products and employs 2,800 people in the Seattle area, Canada, Switzerland, and Europe. New plans are also in place to build a 270,000 square foot manufacturing facility north of Seattle. Seagen’s market value is $20 billion and it reported $1.6 billion in revenue last year.

 

Siegall, 61, is alleged to have pushed his 46-year-old wife, Nellie, to the floor and dragged her causing bruises and abrasions.

 

 Clay and Nellie Siegall

• April 23, 2022 : Clay Siegall is arrested and taken to jail in Snohomish County, Washington.
• Seagen CEO's arrest came during a hazy night of booze, sex and alleged violence
• When police arrived at the home sometime near 4 a.m., Nellie Siegall, Siegall’s wife of nearly three years, was at the front door naked and intoxicated, according to the report, with abrasions on her forehead and knees. Clay Siegall was described as “intoxicated” and “assaultive” as he denied the abuse.
• A summary of jail calls between Siegall and his wife shows that a day after the arrest, Siegall “thanked her for the possibility that he may get fired and that she may have ruined his career.” Siegall was released on April 24.
  
• April 28: Clay Siegall filed for divorce from his wife, Nellie.
• May 15: Seagen CEO and co-founder Clay Siegall resigned from Seagen.  Seagen has named its chief medical officer, Roger Dansey, M.D., to take over as interim CEO.
  

-=Merck (MRK) : experimental COVID-19 pill reduces the risk of hospitalization, death by half

• WASHINGTON (AP) — Drugmaker Merck said Friday that its experimental COVID-19 pill reduced hospitalizations and deaths by half in people recently infected with the coronavirus and that it would soon ask health officials in the U.S. and around the world to authorize its use.
• If cleared, the drug would be the first pill shown to treat COVID-19, a potentially major step forward in global efforts to control the pandemic. All COVID-19 therapies now authorized in the U.S. require an IV or injection.

Merck and Ridgeback's investigational oral antiviral molnupiravir reduced the risk of hospitalization or death by approximately 50 percent compared to placebo for patients with mild or moderate COVID-19 in positive interim analysis of phase 3 study

• Co announced that molnupiravir (MK-4482, EIDD-2801), an investigational oral antiviral medicine, significantly reduced the risk of hospitalization or death at a planned interim analysis of the Phase 3 MOVe-OUT trial in at risk, non-hospitalized adult patients with mild-to-moderate COVID-19. At the interim analysis, molnupiravir reduced the risk of hospitalization or death by approximately 50%; 7.3% of patients who received molnupiravir were either hospitalized or died through Day 29 following randomization (28/385), compared with 14.1% of placebo-treated patients (53/377).
• Merck plans to submit an application for Emergency Use Authorization (EUA) to the U.S. FDA as soon as possible based on these findings and plans to submit marketing applications to other regulatory bodies worldwide.
• Through Day 29, no deaths were reported in patients who received molnupiravir, as compared to 8 deaths in patients who received placebo. At the recommendation of an independent Data Monitoring Committee and in consultation with the U.S. Food and Drug Administration (FDA), recruitment into the study is being stopped early due to these positive results.

=ArQule (ARQL) to be acquired by Merck (MRK) for $20 per share

  

ArQule to be acquired by Merck (MRK) for $20 per share in cash for an approximate total equity value of $2.7 billion

Cos have entered into a definitive agreement under which Merck, through a subsidiary, will acquire ArQule for $20 per share in cash for an approximate total equity value of $2.7 billion. ArQule is a publicly traded biopharmaceutical company focused on kinase inhibitor discovery and development for the treatment of patients with cancer and other diseases. ArQule's lead investigational candidate, ARQ 531, is a novel, oral Bruton's tyrosine kinase (BTK) inhibitor currently in a Phase 2 dose expansion study for the treatment of B-cell malignancies.

Under the terms of the acquisition agreement announced today, Merck, through a subsidiary, will initiate a tender offer to acquire all outstanding shares of ArQule. The closing of the tender offer will be subject to certain conditions, including the tender of shares representing at least a majority of the total number of ArQule's outstanding shares, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. Upon the successful completion of the tender offer,

Merck's acquisition subsidiary will be merged into ArQule, and any remaining shares of common stock of ArQule will be canceled and converted into the right to receive the same $20 per share price payable in the tender offer. The transaction is expected to close early in the first quarter of 2020.

=Merck (MRK) reported earnings on Tue 29 Oct 19 (b/o)

Merck beats by $0.28, beats on revs; raises FY19 EPS and rev above consensus

Reports Q3 (Sep) earnings of $1.51 per share, excluding non-recurring items, $0.28 better than the S&P Capital IQ Consensus of $1.23; revenues rose 14.9% year/year to $12.4 bln vs the $11.59 bln S&P Capital IQ Consensus. 

KEYTRUDA Sales Grew 62% to $3.1 Billion; Excluding the Impact of Foreign Exchange, Sales Grew 64%

Human Health Vaccines Sales Grew 17% to $2.5 Billion; Excluding the Impact of Foreign Exchange, Sales Grew 18%

Co issues upside guidance for FY19, raises EPS of $5.12-5.17 from $4.84-4.94, excluding non-recurring items, vs. $4.97 S&P Capital IQ Consensus; raises FY19 revs to $46.5-47.0 bln from $45.2-46.2 bln vs. $45.88 bln S&P Capital IQ Consensus.

Earnings this week : Oct 28 - Nov 1, 19 (wk 44)

Monday (Oct 28)

• Morning: AMG AWI T AVX CTB L PHG QSR SPOT WBA
• Afternoon: AKAM AMKR APPF ARE AVB BLKB BRO BRX BYND CGNX CR CVCO EHC GDI GOOG/L HLIT HTA HTLF INST JBT LEG MEDP NOV NXPI OFC OFIX OGS OI OMF PCH RE RIG ROIC SANM SBAC SSB SSD TBI TCF TMUS TREX TRTX TXRH VNO VRNS WCN WELL WIRE XPO  GRUB

Tuesday (Oct 29)

• Morning: AGCO AN AOS ASTE BP BTU CEQP CIGI CMI CNX CNXM COP CVLT DBD ECL EME ETN EXLS FDP FELE FMS GLT GLW GM  HCA HSC HUBB HZO I INCY IPGP IR IRDM K KKR LDOS LNN MA MLM MMC MRK NEO PAG PFE R SHOO SHOP SLCA SMPL SPGI TECH THRM VSH WAT WDR WH XRX ZBRA
• Afternoon: ACCO ACGL ADSW AFG AGR AJRD ALL AM AMD AMED AMGN APAM AR ATEN ATGE AX AXS BGFV BVN BXP CAI CAKE CB CCS CHE CHRW CXO CYH DENN DLR EA EIX ENPH EPR EQC EXAS EXR FCF FCPT FEYE FMC FNF GNW HLF HURN HY IEX INVH IPHI KAI KBR LDL LSCC MAT MDLZ MDR MDU MGRC MOH MRCY MSTR MTDR MXIM NATI NBR NWE OKE OSPN PAYC PSA PSMT PTCT QUAD REXR RNR RPAI RRD RXN RYI SAM SGEN SILK SIMO SXI SYK SYX TCO TCS TENB TX UDR UIS UMBF UNM VNOM VRSK WRI YUMC ZEN

Wednesday (Oct 30)

• Morning: AAWW ADP AIT APTV ARCC AXE BDC BG BKR CBZ CIM CLH CME CROX CRTO DAN DIN EAT ETR EXTR FLOW GE GLOP GRMN HEP HES HPP HTLD INSM IQV JHG KFRC LECO LFUS LHX LIVN MAS MCK MCO MDCO MLCO NI NMRK NVT NYCB ORBC OSK RCL SAIA SC SF SITC SITE SMP SNE SO SPG ST SUM TAP TEL TMHC TNC TUP UMC UTHR WCG WING WYND YUM
• Afternoon: AAPL ACA ACAD ADTN AEGN AGI AGNC AKS ALEX ALSN APA ARES ATRC AWK AXTI AZPN BFAM BLDP BOOT CACI CATM CERS CF CHDN CHEF CLI CLR CMPR CNMD CNXN COLM CONE CREE CRUS CRY CSGS CTSH CW DCO DDD DRE DT ECOL EGHT EGOV ELY ENSG EQIX ETSY EVTC EXEL FARO FB FLS FORM FOXF FRT H HABT HCC HCP HTGC HUBG HVT IMMU INOV INT KLAC KW LM LNC LSI LYFT MAA MANT MASI MC MDC MDR MEOH MET MGM MLNX MMSI MSI MUSA MYRG NE NGHC NLY NR NUVA OII OLED PCTY PDM PKI PPC PRAH PS PVG QDEL QGEN QLYS RBBN RDN REG RGA ROG RPT RSG RTRX RWT RYN SBUX SCI SFM SIGI SKT SKY SKYW SOI SPWR SPXC SRI STAG SU SWI TDOC TEX THG TKR TREE TRMB TS TTMI TWLO TYL UCTT VIAV VRTX WDC WHD WMB WPX WTI WTS ZNGA

Thursday (Oct 31)

• Morning: AAON ABMD ADM AGIO AKRX ALNY AMCX AME AMT APO APRN ARD ARW ATI AVP BCE BLD BLL BMY BWA CDW CFR CFX CG CHD CI CLX CNSL COR CPG CRAI CRC CTVA CVE CWT DD DLPH DNKN ECA EIGI EL EQT EXC EXP FCAU FLIR FLR FLWS FSS GIL GNRC GOLF GPN HBI HFC HGV HMHC ICE IDA IDCC IDXX IMAX INGR IP IRM IRWD IT ITGR KHC LAZ LITE LKQ LNTH LXRX MAC MGPI MIXT MMP MNTA MO MPC MPLX MPW MSCI MSG MUR NEWM NNN NTCT NTLA NVCR OSB PBF PBFX PBH PEG PENN PH PQG PWR RDS.A RFP RGEN SABR SILC SIRI SNDR SNY SPAR SPR SRCL STAR STFC STOR SYNH TEN TFX TPH TPX TRI W WAB WCC WEX WLTW WRLD WWE XHR XYL YETI YRCW ZIXI
• Afternoon: ACLS AIV AMN ANET APPN ARCB ATR AYX BGS BIO BLDR BRKR CAR CASA CPT CWST ERII FNKO FTAI FTNT GLPI GPOR HTH JCOM LOCO LYV MELI MERC MINI MOBL MRC MTX MTZ NFG NPTN OEC OLN OTEX PDFS PINS PMT QRVO RMAX SEM SHLX SM SSNC TDS TGH USM VICI VSAT WU X 

Friday (Nov 1)

• Morning: ABBV ABR AIG AMAG ASIX AXL BABA BAH BGG CBOE CCJ CL CVX D FND FTS GSHD HAE HE HMSY HRC IBP IMGN IMO ITT LNG LYB MD MGI MGLN MOG.A NWL OPI PBA PNM POR ROLL RUTH SRE STX TPB TRP USX WOW WPC XENT XOM

Notable earnings reports:

• Alphabet (NASDAQ:GOOGL), Spotify (NYSE:SPOT), Beyond Meat (NASDAQ:BYND), AT&T (NYSE:T), NXP Semiconductors (NASDAQ:NXPI) and Walgreens Boots Alliance (NASDAQ:WBA) on October 28; 
• Shopify (NYSE:SHOP), AMD (NASDAQ:AMD), Electronic Arts (NASDAQ:EA), (NXPI), General Motors (GM), Mattel (NASDAQ:MAT), Mastercard (NYSE:MA), FireEye (NASDAQ:FEYE) and ConocoPhillips (NYSE:COP) on October 29; 
• Apple (NASDAQ:AAPL), Facebook )FB), Lyft (NASDAQ:LYFT), Sony (NYSE:SNE), Yum Brands (NYSE:YUM), Starbucks (NASDAQ:SBUX), General Electric (NYSE:GE) and Twilio (NYSE:TWLO) on October 30; 
• Pinterest (NYSE:PINS), Altria (NYSE:MO), Wayfair (NYSE:W), Kraft Heinz (NASDAQ:KHC ) and MercadoLibre (NASDAQ:MELI) on November 1; Alibaba (NYSE:BABA), AbbVie (NYSE:ABBV), ExxonMobil (NYSE:XOM), Chevron (NYSE:CVX) and U.S. Steel (NYSE:X) on November 1. 

MRK — is it a buy?

• Sept. 19: #37, 10, 22, 26, 72

• next day:

=Merck (MRK) reported earnings on Fri 1 Feb 2019 (b/o)

• 1, 29 (opt. exp.)
• 4, 5, 6, 10, 19-22, 24-26, 29, 49, 52, 58, 61, 85, 88, 92

Feb 1 (Reuters) - U.S. drugmaker Merck & Co Inc's quarterly profit edged past Wall Street estimates on Friday, as its blockbuster cancer drug Keytruda brought in over $2 billion for the first time in a quarter.

Shares of the New Jersey-based company were up 1.6 percent at $75.65 in early trading.

Merck's 2019 earnings and revenue forecast, however, failed to exceed Wall Street expectations, mirroring disappointing profit projections from major drugmakers such as Amgen Inc and Pfizer Inc.

Sales of Keytruda, the most important drug in Merck's portfolio, rose 66 percent to $2.15 billion in fourth quarter, compared with analysts' average estimate of $2.12 billion, according to IBES estimates from Refinitiv.

It surpassed sales of Bristol-Myers Squibb Co's rival cancer drug Opdivo, which brought in $1.8 billion in quarterly sales, for a third straight quarter.

Among a class of medicines called PD-1 inhibitors, Keytruda has been driving much of Merck's sales growth as it continues to produce positive clinical data and amass approvals for treating different types of cancers.

While it drove revenue growth, sales in diabetes drugs Januvia and Janumet fell 4 percent to $1.47 billion in the quarter, and that in cholesterol-lowering drugs Zetia and Vytorin fell 52 percent to $245 million.

Sales in herpes zoster prevention vaccine also fell to $54 million from $121 million, pressured by rival vaccine from GlaxoSmithKline, which was given preferential recommendation by a committee responsible for U.S. vaccination schedules over Zostavax in October.

"Merck's in-line Q4 '18 and 2019 guidance are solid, although underwhelming relative to consensus expectations," said Citi Research analyst Andrew Baum.

Merck forecast 2019 revenue in the range of $43.2-$44.7 billion, compared with analysts' average estimate of $44.53 billion.

Its 2019 adjusted earnings per share forecast was between $4.57 and $4.72, compared with analysts' average estimate of $4.68 per share.

Excluding one-time items, the company earned $1.04 per share versus estimates of $1.03, according to IBES data from Refinitiv.

Revenue rose 5.4 percent to $11 billion and was roughly in-line with analysts' estimates of $10.99 billion.

=Incyte (INCY) and Merck (MRK) : failed key Phase 3 melanoma study

• Biotech stocks (XBI) lower after important immune-oncology combo data (Incyte's IDO inhibitor plus Merck's Keytruda) fails in key Phase 3 melanoma study:  NLNK (IDO inhibitor peer) -37.57%,  INCY -18.23%,  NKTR -9.84%,  JNCE -10.20%,  LABU -5.14%,  FPRX -3.84%,  ONCS -3.72%,  SAGE -2.21%,  SGEN -1.81%,  BLUE -4.85%,  PBYI-1.85%,  SPPI -2.46%,  CRVS -9.17%,  TSRO +0.37%,  BMRN -2.01%, GLYC-2.03%, MRK-1.19% 
• IBB -1.99%,  XBI -1.78%

Incyte announces that the External Data Monitoring Committee determined that the Phase 3 ECHO-301/KEYNOTE-252 study did not meet the primary endpoint 

The co and Merck (MRK) announced that an external Data Monitoring Committee review of the pivotal Phase 3 ECHO-301/KEYNOTE-252 study results evaluating Incyte's epacadostat in combination with Merck's KEYTRUDA in patients with unresectable or metastatic melanoma determined that the study did not meet the primary endpoint of improving progression-free survival in the overall population compared to KEYTRUDA monotherapy.

• The study's second primary endpoint of overall survival also is not expected to reach statistical significance. Based on these results, and at the recommendation of the eDMC, the study will be stopped. The safety profile observed in ECHO-301/KEYNOTE-252 was consistent with that observed in previously reported studies of epacadostat in combination with KEYTRUDA.

Incyte and Merck will inform investigators of the results and work with investigators to appropriately conclude the study in a manner consistent with the best interests of each patient. Data from this study will be analyzed and submitted for presentation at an upcoming scientific congress.

Bristol-Myers (BMY) plunges on failed lung cancer drug trial

• A cancer immunotherapy shocker has Bristol-Myers Squibb tumbling and rival Merck soaring on Friday morning. 
•  The drug, Opdivo, failed to meet a phase 3 trial primary endpoint
• The drop in the shares Friday -- the worst in more than 16 years -- had as much to do with the failure of Bristol-Myers’s drug Opdivo in a clinical trial for lung cancer as it did with investors’ now-shaken confidence in the New York-based company’s ability to be the breakaway leader in the field. 
• No other large pharmaceutical company has recently focused on one disease area like Bristol-Myers has, in this case by targeting drugs that leverage the immune system to attack tumors. The trial results, which showed that Opdivo failed to do better than chemotherapy at keeping previously untreated patients’ cancer from progressing, have left the door open for competitors like Merck & Co., AstraZeneca Plc and Roche Holding AG.
• Immunotherapy is a market potentially worth billions of dollars a year -- Opdivo is predicted by analysts to bring in $10.7 billion in 2020, and the immune-system drugs are projected to make up almost half of Bristol-Myers’s sales by that time. Lung cancer is the biggest killer in oncology, according to the American Cancer Society.