Merck's Shares Rise After Company Reports Profit Jump

Merck & Co.'s shares rose the most in 16 months after the drugmaker said first quarter profit jumped 13 percent, beating the drugmaker's forecast and analysts' estimates.

Earnings increased to 78 cents a share, or 34 percent more than expected, the Whitehouse Station, New Jersey-based company said in a statement yesterday. Merck's shares rose $3.27, or 7 percent, to $49.42 at 9:34 a.m. in New York Stock Exchange composite trading.

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- Posted: 2007-04-13 10:03:49

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