Why Merck Stock Is Plummeting Today
Shares of Merck (NYSE: MRK) were trading lower on Tuesday. The company's stock had lost 10.1% as of 2 p.m. ET, but was down as much as 12.5% earlier in the day. The drop comes as the S 500 gained 0.5% and the Nasdaq Composite gained 1.1% on the day.
Merck's stock sank after the company reported fourth-quarter and year-end 2024 earnings this morning. Although it narrowly beat Wall Street's revenue targets, weak guidance for 2025 disappointed investors.
For Q4 2024, Merck reported global sales of $15.6 billion, up 7% year over year and narrowly beating expectations. The company delivered a net income of $3.74 billion, which although up from a $1.2 billion loss in Q4 2023, missed Wall Street's expected $3.92 billion. For the full year, Merck reported $64.2 billion in revenue, up 7% from 2023.
Source Fool.com
