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Merck & Co. Inc. shares rose 0.7% in premarket trade Friday after the company reported a fourth-quarter profit beat and revenue miss. The company reported a loss of $872 million, or a loss of 32 cents per share, after a loss of $594 million, or a loss of 22 cents per share in the year-earlier period. Adjusted earnings-per-share were 98 cents, compared with the FactSet consensus of 94 cents. Revenue rose to $10.43 billion from $10.12 billion, compared with the FactSet consensus of $10.49 billion. The latest results include about $125 million in lost sales relates to the company’s June cyber-attack. The company also noted that it took a $2.6 billion charge related to the U.S. corporate tax overhaul. Sales of the company’s Januvia, Keytruda and Gardasil beat FactSet expectations. Merck expects 2018 revenue of $41.2 billion to $42.7 billion, compared with the FactSet consensus of $41 billion, and 2018 adjusted EPS of $4.08 to $4.23, compared with the FactSet consensus of $4.10. Merck also touted its plans to invest $8 billion in U.S. capital projects over the next five years, of a planned $12 billion total, and an intended “one-time, long-term incentive award” for employees in the second quarter. Merck shares have risen 8.1% over the last three months, compared with a 9.4% rise in the S&P 500 and a 11.4% rise in the Dow Jones Industrial Average .

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Estee Lauder Cos. shares rose 1.1% in premarket trade Friday, after the cosmetics, hair and skin care company reported stronger-than-expected earnings for its fiscal second quarter and raised its guidance. The company said it had net income of $123 million, or 33 cents a share, in the quarter, down from $428 million, or $1.15 a share, in the year-earlier period. The number includes a one-time charge of $1.05 a share from the impact of the U.S. tax reform signed into law in December. Adjusted per-share earnings came to $1.52, ahead of the FactSet consensus of $1.44. Sales rose to $3.74 billion from $3.21 billion, also ahead of the FactSet consensus of $3.67 billion. The company is now expecting fiscal 2018 sale to rise 12.5% to 13.5% and expects adjusted EPS of $4.27 to $4.32, compared with a current FactSet consensus of $4.20. Shares have gained 64% in the last 12 months, while the S&P 500 has gained 24%.

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A minivan plowed into pedestrians in downtown Shanghai, China, on Friday, according to media reports, injuring at least 18 people. At least three of those are in critical condition, the state-run People’s Daily newspaper reported. The incident, apparently an accident, happened at a busy intersection by a Starbucks Corp. cafe near People’s Park around 9 a.m. local time, according to reports. The People’s Daily reported the van was carrying multiple gas cannisters inside, which burst into flames. Videos shared on social media show a brown van crashed into a tree, multiple victims sprawled motionless on a sidewalk, and firefighters dousing flames coming from the interior of the van. Authorities believe the incident was an accident, not a terror attack, the Associated Press reported, citing Shanghai police who said the driver was smoking while transporting gas cannisters.

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From:: Stock Market News

A vehicle plowed into pedestrians in downtown Shanghai, China, on Friday, according to media reports, injuring at least 18 people. Videos shared on social media show a brown van crashed into a tree, and multiple victims sprawled on a sidewalk. Authorities are investigating the incident, and it is not yet known if the van purposely targeted pedestrians.

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Fidel Castro’s eldest son committed suicide Thursday in Havana, Cuban state media reported. Fidel Castro Díaz-Balart, 68, reportedly suffered from depression. Castro Díaz-Balart trained as a nuclear engineer in the Soviet Union, once served as head of Cuba’s nuclear program, and was most recently scientific adviser to the Cuban Council of State. His father, Fidel Castro, ruled Cuba from 1959 until 2008, and died in 2016 at the age of 90.

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Guess Inc. shares sank almost 18% in Thursday trading after model Kate Upton tweeted allegations of harassment against the company’s co-founder, Paul Marciano. In a tweet posted late Wednesday, Upton wrote, “It’s disappointing that such an iconic women’s brand @Guess is still empowering Paul Marciano as their creative director #metoo.” When TMZ questioned Upton further at Los Angeles International Airport, she said she was “excited to tell [her] whole story,” but didn’t elaborate further. Upton has modeled for the brand since 2011, according to New York magazine’s The Cut blog. “Mr. Marciano denies any misconduct toward Ms. Upton,” Guess said in a regulatory filing Thursday afternoon. “The company will fully investigate her claims once they are known to determine if they have any merit.” Guess shares are up 31.8% for the last year while the S&P 500 index is up nearly 24% for the past 12 months.

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CVS Health Corp. and Aetna Inc. said they each received Thursday a request for additional information from the Justice Department in connection with the department’s review of their potential $69 billion merger. The companies still expect the deal will close in the second half of the year. “Aetna and CVS Health have been cooperating with the DOJ staff since shortly after the announcement of the Merger Agreement and are continuing to cooperate with the DOJ staff in its review of the transactions contemplated by the Merger Agreement,” the companies said in the filing. The deal, announced in December, is subject to shareholder and other approvals. Shares of CVS rose 0.3% and shares of Aetna gained less than 0.1% in late trading Thursday after ending the regular trading session up 0.1% and 0.3%.

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